Does your mortgage interest rate start with a 3?
If not it is definitely time for your mortgage Interest Rate Check up
At present the mortgage lending market place is in a state of flux. The major banks are under intense scrutiny from the Banking Royal Commission and are not currently not as competitive as those medium and smaller mortgage lenders that are offering very competitive lower rates.
This is opening up the market for some of the medium / small sized lenders to take market share from the Big 4 banks with mortgage products that are as good or better than the traditional bank mortgages.
That is all well and good, but what does that mean for you?
Well on a $600,000 loan, over a 30 year term, if your rate stayed at say 5% for the entire term of your mortgage, that would cost you over $490,000 in interest! That means you would be paying 81% above the $600,000 original mortgage amount. So it is definitely worth looking for the best mortgage rate possible.
You should expect to refinance your home loan 3-4 times over the full term of the mortgage as better interest rates and loan features enter the market and save you $$.
How Can we help?
Current Best Rate Available – 3.59%
As of the date of publishing, we can put you into a rate of 3.59% for an Owner Occupied, Principle & Interest Home Mortgage Loan
(Comparison Rate of 3.59% over 25 years on a $150,000 Loan. WARNING : This comparison rate is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate.’)
To achieve this saving, we would need to understand your personal circumstances to ascertain the most appropriate lender for your needs.
We have access to more than 20 Australian lenders and an experienced team to help you decide. Click Here for our mortgage options