Many families will instinctively dislike Joe Hockey’s first budget because it forces changes to their standard of living. But Perth home owners can fight back before it hits their hip pockets by refinancing to a new loan or lender.
Is your bank pro-active or re-active?
There’s a mortgage war raging - there’s significant competition between lenders. It gives home owners a great opportunity to secure a lower rate and put savings in their hands rather than adding to a banks bottom line profits. It also begs the question why hasn't my bank told me of these great deals? So, is your bank a pro-active or re-active bank?
Rates continue to stay on hold
Rates have been on hold for nine consecutive months. Stable rates are a sign of ongoing strength in our economy. There are many factors to consider when refinancing. By shopping around and reducing your rate you could make significant savings. For example on a $300,000 loan, switching to a loan which is 0.5% lower than your current rate, you could save yourself around $1500 a year. This will certainly help offset any increases from the budget announcement.
So why wait……….act now!
Perth mortgage broker, Steve Sims is always on hand to get you a better deal. Call today on 0433 124 081 or email email@example.com to see if Steve can help you offset the budget blues.