"Fixed-rate hikes are coming thick and fast as the cost of funding continues to put pressure on the banks' bottom line," she said.
It will decrease its fixed-home-loan interest rates by up to 0.75 per cent for new customers and existing variable-rate customers who want to fix their interest rate, from 5 August. Discounts offered by banks for new borrowers saw refinancing jump 9.7 per cent in June to a record $12.7 billion. The value of new loan commitments remains at an historically high level, but it is starting to fall away.
It says for borrowers with a 40 per cent deposit or the equivalent equity in their property, 49 per cent of lenders on its comparison site are offering interest rates that are on average 0.21 per cent below the rate being paid by borrowers with a deposit half that size. "There may be a strong case for borrowers in this position to open up a negotiation with their lenders for a rate reduction," he said.
And we're yet to establish if these copy 'n' paste homes have any resale after the current owners go bust..
AthenaHomeLoans avoids this sort of crape behaviour
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Source: dailytelegraph - 🏆 21. / 51 Read more »