Uptake of basic loans on the rise

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”.

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Written by Staff Reporter

Last Updated: 09 March 2022

Published: 16 December 2008