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Banks move to ditch long-term low fixed rate offers
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Banks move to ditch long-term low fixed rate offers
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Banks move to ditch long-term low fixed rate offers
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ING lifts high-LVR mortgage rates
ING lifts high-LVR mortgage rates
05 February 2021 6:19AM
ING Australia has added 11 basis points to the interest rate on owner occupier mortgages with loan-to-valuation ratios above 90 per cent.
The rate rises from 2.94 per cent to 3.05 per cent for high-LVR borrowers with an Orange Advantage loan and from 2.89 per cent to 3 per cent for borrowers with a Mortgage Simplifier loan.
Canstar finance expert Steve Mickenbecker said more lenders were pricing for risk.
Mickenbecker said that so far this year Adelaide Bank, Credit Union SA, Freedom Lend, Homestar Finance, Newcastle Permanent, People’s Choice Credit Union and QBank have also increased rates for some groups of borrowers.