Business Services Industry
Aussies winning mortgage battle.
Australasian Business Intelligence, August, 2001
Aug 9, 2001 (The Mercury
ABIX via COMTEX) -- National Australia Bank (NAB) research indicates Australians are making significant savings by paying off their home loans sooner. 50,000 Australians were surveyed by Roy Morgan Research. Home buyers have reduced the initial home loan term to an average of 21 years, representing a saving of $A24,500 on a standard 25-year loan. NAB CEO of Australian Financial Services, Mike Pratt, reported an average loan term of 19.2 years and savings of $A40,000. Pratt said a trend of shorter loan terms emerged in 1990 when NAB launched tailored home loans.
NATIONAL AUSTRALIA BANK LIMITED -
ASX NAB:
AUSTRALIAN FINANCIAL SERVICES PTY
LTD:
ROY MORGAN RESEARCH CENTRE PTY LTD
...
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