Join our investing community

Don't pay the advertised mortgage rate

Discussion in 'Finance & Banking' started by Tropo, 20th Aug, 2008.

  1. Tropo

    Tropo Well-Known Member

    Joined:
    17th Aug, 2005
    Posts:
    3,394
    Location:
    NSW
    20/08/08
    Don't pay the advertised mortgage rate

    Anyone paying the banks' indicator variable mortgage rate of 9.45 per cent is being taken advantage of.
    Banks offer discounts on their "indicator" rates to new customers or to existing customers who threaten to move their mortgage.
    New customers can also get better deals on term deposits and high interest online savings accounts than existing bank customers.

    Source: Sydney Morning Herald
     
  2. Billv

    Billv Getting there

    Joined:
    15th Jul, 2007
    Posts:
    1,796
    Location:
    Sydney, NSW
    Tropo

    This has been going on for years...:)

    Did the SMH notice it now?

    Cheers