Revealed: The home loan that could save you a fortune
Posted by Katrina Parrington on May 24, 2010
- By Nick Gardner
- From: The Sunday Telegraph
HOMEBUYERS are to be offered never-ending mortgages in a bid to overcome Australia’s affordability crisis.
ING Direct, Australia’s fifth largest lender, is preparing to sell loans that have no fixed term and no requirement to repay any capital along the way.
At current rates, the interest-only loans would cut repayments on a $300,000 mortgage by $5000 a year.
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