Millennium Bank cuts mortgage rates by 3.5%

The interest rates of the individuals’ mortgage and home equity loans have been cut up to 3.5% by Millennium Bank.

Millennium Bank

The calculation of new rates are based on the loan to value of the credit and they are applicable for the loans that are acquired starting with August 10, 2009.

Eliza Erhan, Head of Retail Product Development Millennium Bank has stated that the decreasing trend of interest rates have been followed by these changes, but they have also position Millennium Bank’s offer among the best on the market, especially for lower risk loans.

For mortgage loans the new interest rate is calculated as the three-month Robor/Euribor, plus a margin starting from 6.5%. For home equity loans the new interest rate is calculated as the three-month Robor/Euribor, plus a margin starting from 7%.

According to the three-month Euribor/Robor evolution, Mortgage and home equity loans are offered by Millennium Bank with variable interest rate, these are updated every three months. Clients gets their benefit in the form of zero administration fee and free life insurance.

People who liked this Post also read

  • Where to Find Mortgage Lenders
    Mortgage lender is any bank, financial or some other institution that lend you loan to purchase home. You must search for the best mortgage lender who fulfills your requirements. You can search for them through new paper as well on internet. The repute o ...
  • Mortgage Rates Rises as Unemployment Rate Falls
    Today mortgage rates jumped after the Bureau of Labor Statistics have said that the unemployment rate was fallen to 9.4% in July as compared to 9.5% in June, which has surprised most of the economists who have estimated that the rate would go as high as.....
  • A Guide to Mortgage Refinancing Loans
    Mortgage refinancing is a good option to replace your pre-existing expensive mortgage loan with a new affordable mortgage. The new mortgage or refinancing loan will replace the existing higher interest rate with lower rate, large monthly payments with sma...
  • Low Cost Mortgage loans
    Low cost mortgage loans are a good way to get your finances in control. These loans are ideal for self employed, low income individuals or people having difficulties if getting financing. The best way to get low cost mortgages is the use of internet and o...
  • Reverse Loan Rates
    Reverse mortgage loans are the good options to refinance your mortgages without having to pay off monthly loan payments. These loans are also helpful in reducing the monthly expenses by cutting down monthly loan payments....


is an experienced IT Consultant turned Blogger, Interested in Technology, Personal Finance, Humans and Life...You and discover more about him by following RMak on twitter.

Leave a Reply

CommentLuv badge

© 2011 Loan Mortgage Credit!. All rights reserved.