Not happy about the banks hiking rates? While you’re here, have a read of my blog post where I provide a couple of examples of how I’m saving homeowners up to $3,000 per year in interest on their mortgages.
|LENDER||INCREASE||NEW STD VARIABLE
|NEW STD VARIABLE
|Adelaide Bank||0.07 – 0.17%||Various||Various||20/11/15|
|Bank of Melbourne||0.15%||5.60%||5.85%||20/11/15|
|Better Mortgage Management|
|Credit Union Australia|
|Keystart Home Loans|
|Resimac Financial Services|
|Smartline Home Loans – New||0.17%||12/11/15|
If you found a good home loan rate a few years ago, you are not sorted for life. Lenders can move their variable rates at any time and how they compare to other lenders can vary. Therefore a loan that was competitive in the past might not be as competitive a couple of years later. It’s ideal to review your loan every year or two to ensure that your rate is still competitive. If not, you could be wasting thousands of dollars unnecessarily.
If you’d like an obligation and cost free chat to review what you’ve got, I’d love to hear from you.
Jason Thomson | Mortgage Adviser and Finance Broker | Smartline Cairns