Category: Interest Rates

Follow our Smartline blog for up to date latest Australian finance and property news.

Repay @ the Bank “Buffer Rate” and Save a Fortune

Australia’s banks are required to test how you would cope with an interest rate increase. They do this by adding approximately 3.00% p.a. to the current rate. Here is what this calculation would look like for someone with a $450,000 variable rate mortgage: @ 4.25% p.a. the monthly repayment is $2,214 over 30 years. @ […]

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Loan Redraw or Offset Accounts? Which is Best?

Offset accounts and redraw facilities work in similar ways; they both allow you to reduce the balance of your home loan, and therefore the interest charged, by applying extra money to your debt. They also are an effective means to build a “buffer” for a rainy day. Redraw allows you to deposit spare income into […]

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The Truth About Fixed Rate Loans

With interest rates at an all-time low, taking the option of locking in an interest rate on your home loan to guard against possible future fluctuation may be attractive. However, it pays to know the ins and outs of fixed-rate loans before committing to one. When purchasing a property, borrowers can decide between fixed-interest loans […]

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10 Reasons to Get a Home Loan Pre-approval

A home loan pre-approval provides confidence when it comes to making an offer on your property because it gives you a clear indication of how much you can borrow. You won’t waste time on properties you cannot afford and can concentrate on properties within your price range Your offer will be more attractive to the […]

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RBA remains firm on 2 per cent cash rate

While the victor in yesterday’s Melbourne Cup may have come as a surprise to some, Reserve Bank of Australia (RBA) Governor Glenn Stevens’ announcement that the official cash rate (OCR) would remain on hold at 2 per cent did not. The decision to hold the rate is good news for mortgagors or those considering a […]

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What do you do when interest rates rise?

When you take out a home loan, you have a good idea of how much you can borrow and what your repayments will be. However, economic conditions can change alongside your personal financial situation. It could be a loss of income, unexpected emergency or, as we see happen often, an interest rate rise that means […]

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3 things to do when interest rates are low

The cash rate has been kept at 2 per cent for another month, and it doesn’t look like it’s moving any time soon. According to CommSec’s analysis of Reserve Bank Governor Glenn Stevens’ public statements, it doesn’t appear as if the cash rate will change over the next year. This means that the low interest […]

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Client stories

Khris Lloyd

25-year-old Khris Lloyd was left in the lurch when his beloved credit union did a backflip on their pre-approval for a run-down...

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Elly and Nic Marie

It was Christmas Eve 2015 and Elly Marie and her husband Nic were busy with their new baby and planning their upcoming wedding in...

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Belinda Fellows

Having a great mortgage broker can really help ease the stress and strain that comes with buying a property – particularly when...

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