Powered by MOMENTUM MEDIA
SUBSCRIBE TO OUR NEWSLETTER SIGN UP
Powered by MOMENTUM MEDIA

Website Notifications

Get notifications in real-time for staying up to date with content that matters to you.

Uptake of basic loans on the rise

Staff Reporter 1 minute read

Australian borrowers are going “back to basics" with their home loans, according to loan data released by Mortgage Choice today.

Over November the number of borrowers choosing a basic variable rate rose by a sharp seven per cent to 44 per cent of all approvals.

Kristy Sheppard, Mortgage Choice senior corporate affairs manager, said: “Borrowers really are favouring the basics – fewer features in return for a lower interest rate – when it comes to choosing their home loan”.

Fixed rate loan demand also continued to wane – they accounted for less than three per cent of all Mortgage Choice November approvals.

 

Uptake of basic loans on the rise
default
TheAdviser logo
default

 

more from the adviser
digital home ta Heritage to introduce new origination platform

The non-major bank has teamed up with a credit reporting firm to ...

woman financia counselling ta SA offers free financial counselling to women

At-risk women living in SA will be given access to free financial...

Sam Carrello bc64 WA broker reveals his top tips for hiring staff

Napoleon Finance broker and director Sam Carello has revealed his...

FROM THE WEB