Interest rate increased recently and you are unsure why? Read on.
July 21, 2017
With the recent changes to interest rates for investment loans and interest only loans, there has never been a better time to review your current debt and mortgage situation.
Currently, the residential interest rates on offer range from approximately 3.67% to 6.26%, which is the largest discrepancy in rates for over fifteen years. Additionally, cash incentives offered by some banks to attract loan refinance business means you have the potential to receive thousands of dollars in interest savings.
Best of all, you do not need to provide full financial information or forms to work out if we can make these savings work for you – it can simply be done over the phone in just a matter of minutes.
The only information we require is:
- • current (approximate) residential loan balances;
- • loan types, whether investment or owner occupied;
- • repayment types, whether interest only or principal and interest;
- • current applicable interest rates for each loan; and
• an estimate of what your property or properties are worth.
Most of this information can be obtained through the internet banking site of your current lender. If you require assistance accessing this information, we can happily guide you through the process.
- For further information or to see how we can help significantly improve your position, please contact us by phoning your respective broker or the office on 9477 4188.