Sell with Confidence
Read More
News

You Better Shop Around

By Dan Sowden

Borrowers looking to counter the recent official interest rate rises should be aware that it’s currently possible to secure home loans with variable rates more than one per cent cheaper than the standard variable rates offered by some major lenders.

 With the Reserve Bank of Australia (RBA) expected to take official interest rates from their current level to around 5.0 per cent by the end of the year, home owners should be seeking the most competitive variable rate.

Did you know that a one per cent variance translates to more than $200 in monthly savings on a $350,000 loan at a 25 year term?

 For larger loan sizes, borrowers also have the option of negotiating a lower variable rate with their lender.

 Small lenders are providing increased competition to the major banks and this is benefitting consumers in a rising interest rate climate.

 It is also worth keeping in mind that while official interest rates are expected to stay on hold for the next few months, banks could raise home mortgage rates independently of any moves by the Reserve Bank of Australia (RBA).

 Problems facing European financial systems may result in higher funding costs for Australian banks, potentially leading to rate rises as some of the majors did last year.

 A mortgage broker is well placed to review the circumstances of your current home loan and determine whether you can get a better deal from your lender.


Source:  Loan Market – Sunshine Coast Mortgage Broker

Up to Date

Latest News

  • Million-dollar views!

    3/10-12 Marina Walk, Alexandra Headland Sold for $1,000,000 by Pam Thomas There’s a reason locals refer to Marina Walk at Alexandra Headland as part of the “Golden Triangle”. Positioned at the most elevated point of Alexandra Hill, it offers sweeping ocean views and a prime location close to Mooloolaba Esplanade. … Read more

    Read Full Post

  • Bli Bli home sells under the hammer for $103,000 over reserve

    24 Waterview Crescent, Bli Bli Sold by Jason Mills for $623,000 Achieving a result of more than $100,000 over the reserve price on this Bli Bli property at 24 Waterview Crescent came as no surprise to agent Jason Mills. “The uniqueness was it’s easy access to the water,” says Jason. … Read more

    Read Full Post