Home loans customers 'dissatisfied after rate rises'

Friday 08 April 2011

Article by Mozo

Home loans customers in Australia have expressed greater levels of dissatisfaction in light of recent increases to rates, according to recent data.

Home loans customers 'dissatisfied after rate rises'

Figures published by Roy Morgan Research indicated that the Commonwealth Bank was the worst hit by the consumer backlash, reports the Sydney Morning Herald.

The financial institution increased its standard mortgage rate by 0.45 per cent over the last few months.

People looking for finance for a property or who want to change the bank they are with might consider heading online to compare home loans to ensure they get the best rate available.

According to the Roy Morgan Research figures, there was an 8.7 percentage points decline in satisfaction among home loans customers for the Commonwealth Bank between October and February.

The other three big banks in the country only experienced drops of two percentage points.

According to the RP Data Rismark index, the cost of property in the country remained relatively stable during February 2011.

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