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Uncertainty over high interest charges has brought mortgage business to a standstill as customers shy away from loans to service their dream homes.
A spot check at National Bank revealed that interest charged on retail mortgages have been reviewed from 15.45 per cent to 18 per cent with a further review currently underway to determine the final figure to be announced soon with estimations pointing to 21 per cent. Construction mortgages at the bank are up to 21 percent from 17 per cent.
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