Mortgage News

Controversial break fees gone?

Monday 20th of February 2012

Bruce Patten at Loan Market says a client of his needed to break a two-year fixed loan last week.

The loan had been placed with Westpac at 6.15% in December. Westpac's current advertised two-year fixed rate is 5.79%.

Patten says all Westpac asked for was a $300 administration fee.

He had a similar experience with ANZ Bank last year - a client had taken out a three-year fixe...

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