Non-bank slashes variable rates
01 JUL 2010
1 min read
Finance
National Mortgage Company has welcomed the new financial year in style, slashing 10 basis points from its ING funded variable full doc loans.
According to a company statement, the reduction applies to all new applications from 1 July 2010.
The non-bank lender’s head of wholesale mortgages Grant Lloyd said the rate cuts would stimulate competition in the market.
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“While other lenders are trimming their fixed rates, we have made the decision to reduce some of our variable products which have a higher take up rate by consumers,” Mr Lloyd said.
“Moving forward we will be releasing more competitive product offerings in support of our clients.”
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