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.

No frills home loans attract largest borrower demand

Staff Reporter 1 minute read

Borrowers are becoming increasingly conservative with their home loan options with basic variable rate home loans attracting the biggest demand.

According to loan data released by Mortgage Choice yesterday, basic home loan popularity continued to grow in February to almost half of all approvals – 49 per cent. This represented a significant leap in popularity from the 12 month average of 33 per cent.

Standard variable loans were the second most popular choice at 43 per cent of all approvals, while just 5 per cent of borrowers chose a line of credit and 2.5 per cent decided to lock in a fixed rate.

 

No frills home loans attract largest borrower demand
default
TheAdviser logo

If you’re feeling overworked and overwhelmed in this fast-paced mortgage market, it’s time to make some changes, and the Business Accelerator Program can help! Early bird tickets are on sale now. Work smarter, not harder, this year.

default

 

more from the adviser
mortgage document sign ta 1 in 5 borrowers lies on loan applications

One-fifth of Australians have admitted to not telling the whole t...

money au ta Judo Bank valued at $1.9bn after equity raise

The SME challenger bank has announced its latest equity funding r...

gentlmen handshake Choice announces commercial white label service

The aggregator has partnered with a finance brokerage to add a co...