There is “chaos” in pricing of home loans, according to one bank chief executive and borrowers have all the power.
The Co-operative Bank chief executive Bruce McLachlan says there is significant discounting happening amongst lenders.
“Rate cards are quite high in my view,” he says.
Borrowers need to be asking for the best possible deal when they take out a loan or refinance an exiting one.
“The poor old customers who don’t challenge are missing out,” he says.
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