Is your mortgage working hard for you?

August 27, 2013
David Wilson

If it’s been some time since you’ve had your mortgage reviewed by a home loan expert, then now is the time to make sure your loan is still working hard for you.  

In today’s competitive environment, we've recently seen the Reserve Bank of Australia cut official interest rates by 0.25% and lenders are now falling over each other to attract and retain customers.  

We’ve also had many borrowers take advantage of financial and other incentives to switch lenders. Fixed rate pricing continues to fall below 5% p.a., plus there are a range of variable rate discounts on offer, and fees are being waived or reduced.

 

 

To illustrate the current refinance market, here are two refinance specials that lenders on our panel are currently offering:  

Lender A - $1,000 Refinance Rebate

  • $1,000 refinance rebate per application
  • Min loan amount $250,000
  • Applications submitted by 30 November 2013 & settle by 28 February 2014 ·
  • Up to 1.00% p.a. off the Standard Variable Rate   

Lender B – Spring Home Loan Campaign

  • $700 refinance rebate per borrowing entity 
  • Minimum loan amount $150,000 
  • Applications submitted by 27 September 2013 & settle by 3 January 2014 
  • Up to 1.00% p.a. off the Standard Variable Rate   

When done properly, loan refinancing can save money and work very well. However, there are drawbacks involved - namely the cost. The reasons for refinancing should be legitimate and the cost benefits in the long run should definitely outweigh the short-term costs.  

As your local home loan experts, we can provide you with a no charge to you home loan service. We'll compare your current loan to more than 300 products from up to 27 banks and lenders to see if there is a better option for you. We can also simplify the process and make it as stress free as possible by taking care of all the paperwork and follow up.

If you would like to explore your options, please give us a call on 9432 6070 or click on the 'contact us' tab at the top of this page.

Posted in: Refinancing

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