A review of current bank interest rates as regularly advertised in national dailies shows a substantial difference in the rates being charged to home owners as opposed to businesses. This is in spite of the fact that business loans are often secured through mortgages on private property suggesting that the risk profile is not all that different.
We suggest that, in cases where such security is provided, any interest rate differential needs to be justified.
Letter to Senate Standing Committee on Economics – Download Now (Word format)
