Cutting 1 percentage point off your home loan rate might not sound like a whole lot, but over 25 years it’s a massive saving of nearly $50 000 – where else can you save that kind of money without changing your lifestyle.
Borrowers are demanding lower rates and savings thousands of dollars in doing so. It’s very important that clients stay in contact with their mortgage brokers and insure they are remain ahead of the market.
How much can we save you?
If your mortgage broker saves you 0.25 percentage points today, that would put $528 a year back in your pockets on an average loan of $300, 000, which is great.
- But wait, there’s more!
A discount of almost 4 times that, close to $2000 per year is possible if you switch from the average to one of the lowest standard variable options!
You’re not the only one
Analysis of the Australian Bureau of Statistics figures shows the number of owner occupiers refinancing their home loans was up by 17 percent to an amazing $27 billion in the first half of the 2013-14 financial year.
Taking a longer look back, refinancing has really taken off over the past 20 years. It’s becoming much easier for people to get information about home loans and they are always looking for a better deal.
Your home loan is often your biggest investment, don’t fall behind! If you want more information on how we can help you save, please call us on 03 8795 7007.