February 23, 2015 in Insider Tips
, Latest News
If you are suffering hardship as a result of Cyclone Marcia please be aware that your Bank can provide “Hardship Assistance” to help you and your family whilst you get yourselves back on your feet.
For more information please contact our Mortgage Specialists.
Now is a great time for Borrowers to use the record low interest rates to own their Home sooner.
Many Banks will automatically reduce your Home Loan repayments when Interest Rates fall.
TELL THE BANK “NO” !!!
By retaining your Home Loan repayments at their previous level or even better … increasing your repayments you will:
1. Pay off your Home Loan faster
2. Reduce your current + future interest costs
3. Create a “Buffer” which you may be able to redraw in the future if / when required
4. Own your Home sooner
Making your money work for you now whilst rates are low will save $$$ now and $$$$$$$$$$$$$$ in the future.
February 16, 2015 in Insider Tips
, Latest News
The recent 0.25% RBA Rate Cut has been well publicised however many Borrowers are yet to discover that Banks have slashed 3 Year Fixed Rates + 5 Year Fixed Rates below 4.50% p.a.
With Fixed Interest Rates as low as 4.28% p.a. (3 Year) and 4.39% p.a. (5 Year) borrowers are able to “Lock-In” record low Interest Rates for years.
Westpac has confirmed it will be passing MORE than the Reserve Bank rate cut (RBA 0.25% p.a.) by reducing their Variable Interest Rate by 0.28% p.a.
However … don’t be too quick to heap praise on the “Big Red W” as Westpac’s Variable Interest Rate was higher than the other major banks prior to the rate drop.
The Reserve Bank Board has voted to reduce the Official Cash Rate by 0.25% to 2.25%.
This is the first change to the Cash Rate since August 2013 which the RBA hopes will stimulate the Australian Economy which is currently growing slowing than RBA expectations.
Senior Economists of several major banks are predicting a further rate cut in March which is great news for Australian families and the Business Sector.