The competitive landscape amongst banks is changing and it’s putting property owners in the driver’s seat. Lenders are dropping their pants (so to speak) to win your business. And they’re offering fixed and variable rates at historical lows.
A three year fixed rate from 4.69%* with no establishment fee is a very attractive option. Or you might like to fix a little longer and go for the five year rate from 4.94%* with a $395 annual package fee.
Variable rates are also getting the same attention; with one bank offering a variable rate of 4.65%* for loans in excess of $150,000 that are up to 80% of your property value with no ongoing fees.
Whether you’re buying your first home, investing in property or looking to refinance, securing a ‘historically low’ rate is a good win.
Lowering your repayments can improve your lifestyle and give you more cash in your back pocket. Based on the average home loan of $550,000, a 1% difference in your interest rate would equate to an annual interest saving of $5,500. Now that’s a decent holiday away.
So, how do you know what finance option is right for you?
Always speak with a credit advisor so you can weigh up all your options and discuss your short, medium and long term plans. We’re able to provide you with all the options, more details on the exciting rates and negotiate further on your behalf. We’ll be there every step of the way.
If you were thinking about reviewing your finances, now is the perfect time to take advantage of the competitive market.
*These rates are a promotional offering and only available for a limited time.