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Higher rate of interest of the banks is a serious matter of subject for all those holding a housing loan. One of the most preferred mortgage lenders of the country is also experiencing the same sounds of hike among its consumers across the nation. According to sources of www.propertykhazana.com around 15 percent of total home loan consumers had made early payment of their dues looking to the increasing rate of interest. Along with this it was also came to focus that the number of consumers applying for a home loan has degraded up to 35 percent due to all this ill effects on last 18 months.
But on a different aspect explaining about the Banks trend Rajib Sabharwal – retail asset head of the company has said that the company has already made a strict note of the increasing interest rates and walk cautiously along the different clients of business. Source of www.propertykhazana.com also reveals that the second largest group of mortgage lender has recently increased its rates twice at a short interval of two months with a basis point of 75.
Interestingly higher rate of mortgage has now made another road block to borrowers with lower monthly income. Now the amount of the funds also been reduced to 5 -10 percent as compared to the earlier times. Talking to other heads of the company via www.propertykhazana.com they say the financial unit is now taking cautious measure to lower the burden of the interest unlike the foreclosure homes in United States.
Source: NBTVLIVE

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