P&I Homeowners Are Big Winners

P&I Homeowners Are Big Winners

Trent Richards Trent Richards

Trent Richards

C.E.O. Black Diamond Private Wealth LTD

发布日期: 2017年6月14日
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Housing loan customers are being asked to pay higher interest rates and larger deposits as banks increase mortgage charges, but one type of borrower remains exempt.

Owner-occupiers opting to pay down their debts and make principal and interest (P&I) repayments remain the biggest winners of the competitive mortgage market.

New analysis shows that for an owner-occupier paying P&I on a $300,000 home loan the average variable rate is 4.45%, compared to investors paying P&I at 4.89%.

The monthly repayments are $79 more for investors, financial comparison website Mozo has found. Investors opting for interest-only loans are paying an average variable rate of 4.99%.

Mozo's Kirsty Lamont said owner-occupiers who are paying down their debt will almost always secure better rates than those with other types of loans. "They are still enjoying rock bottom interest rates that can be less than 3.5%," she said.

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