Login
ISCOVER
By: Staff Reporter
Demand for capped interest rate loans is driving up the level of refinancing activity, according to FirstMac.
To continue reading the rest of this article, please log in.
Looking for more benefits? Become a Premium Member.
Create free account to get unlimited news articles and more!
Looking for more benefits? Become a Premium Member.
The non-bank’s chief financial officer James Austin said the lender had received a growing number of applications from borrowers looking to move away from the big four banks and gain extra security by moving into a capped rate product.
“The capped interest rate product provides borrowers with greater security during this rising interest rate environment whilst still providing the benefits of a cheaper floating interest rate in the short term,” Mr Austin said.
