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ISCOVER
Staff Reporter
National Mortgage Company has slashed the interest on its fixed rate products in a bid to make its home loans more competitive within the industry.
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The non-bank lender yesterday announced it would cut 50 basis points from both its four and five year fixed rate products.
The rate cut takes the interest rate on both products to a competitively priced 7.95 per cent.
NMC’s head of sales Fernando Lemos said the company had seen a shift by consumers to fixed rate products and wanted to cater effectively to this growing demand.
“We have seen a slight shift to fixed rates with consumers wanting certainty for the future and talk of banks moving rates independently of the reserve Bank. We are always looking at ways of passing on any funding benefits directly onto our consumers,” he said.
