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Banks get picky with mortgage deals, awarding cashed-up owner-occupiers

Clancy YeatesBanking reporter
Updated

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New figures reveal a widening gap between the interest rates that banks offer owner-occupier borrowers with big deposits and what they're ready to give other types of borrowers in the home loan market.

Last year saw the re-emergence of a two-tier mortgage market, in which investors are charged more than people paying off a loan for a house they live in. This had been the norm at many banks until the late 1990s.

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Clancy Yeates is deputy business editor. He has covered banking and financial services, and was previously national business correspondent in the Canberra bureau. Connect with Clancy on Twitter.

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    Original URL: https://www.afr.com/companies/financial-services/banks-get-picky-with-mortgage-deals-awarding-cashedup-owneroccupiers-20160125-gmd918