In a time when we are experiencing a strong property market and a low interest rate environment it is easy to become complacent about our current finance arrangements.
Lenders are currently very competitive in their pricing to attract new business and with both variable and fixed interest rates at historical lows, it is an opportune time for borrowers to review their current finance they have in place. A simple review can ensure you take full advantage of the current favourable environment while the going is good. In some cases this may mean that in order to take full advantage of current rates you will need to consider an alternative lender but the savings made can be substantial. Alternatively, we may be able to get you a better deal with your current mortgage provider.
One main stream lender has just released a special offer that sees most borrowers eligible for a variable rate of 4.69%. This rate is set at 1.3% below their standard variable rate for the life of the loan and not a honeymoon rate. Furthermore, the standard $375 annual package fee is also waived for the life of the loan. With no application fee or ongoing costs this is a compelling variable rate option and I believe the most competitive package offer I have seen in the past 12 years.
The fixed rate environment is also favourable for those who like certainty in their repayments. 3 year rates are available from 4.59% and 5 years from 4.69%.
I am more than happy to offer the valued clients of Skeen Property the opportunity to undertake a no obligation review of your current loans to ensure you benefit from current market conditions and ensure the structure of your property loans is providing you maximum benefit both now and into the future. You may save yourself a considerable sum of money, or if nothing else gain peace of mind that your current loans are competitive and working well for you.
Call Rob to discuss how we can help you.