Tuesday, September 25, 2007

Home Loan From Insurance Companies

When we bought a new property, we were looking around for a good home loan interest rate and found it in the form of an alternative financial institution. In recent times, insurance companies have been giving the banks quite a lot of competition as they are able to provide home loans at cheaper rates. We enquired with them and found that all we had to do to get that cheaper rate was to purchase a mortgage life insurance policy with them or to pay for the usual MRTA. In the end, we opted for the MRTA option as it is a one-off payment and less of a burden every month.

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