Insider Tips

The Reserve Bank Board may have voted to retain the Official Cash Rate at the current 1.50% p.a. however, several banks have already increased their Variable Interest Rates, with more banks expected to announced their intention to do the same over the next few weeks.

The banks are blaming “the increasing costs of funds” however the reality is borrowers can still negotiate lower interest rates with their banks despite the bank’s belief that the majority of their customers will simply “cop it sweet”.

If your Home Loan Variable Interest Rate is currently (or soon will be) greater than 3.90% p.a. … CALL ME !!!

 Many of our clients have already taken advantage of our free advice & reduced their interest rates which has saved them $$$

 We are also pleased to confirm that over 90% of these DPF clients have achieved these savings without the need to refinance or change banks.

 Please remember … WE WORK FOR YOU … not the banks … so please call me if you’re not happy with the rate your bank is charging you.

Please be mindful when you receive your next Home Loan Statement to view the interest rate you are currently being charged. 

We are seeing a steady increase in the number of long term bank customers who are unknowingly being charged higher interest rates on their Home Loans. 

Each week we are assisting clients to strike back & achieving lower rates with the vast majority accomplishing this with a simple phone call. 

Last week one of our clients was shocked to learn how much their bank was overcharging them & absolutely thrilled when our Mortgage Specialist passed on an “Insider Tip” which saved them $3,959.00 per annum without having to refinance or change banks.

 Q: How much was our client charged to achieve this ?

 A: $NIL

 Please take a minute to jump onto your internet banking to check your latest statement. If your bank has targeted your Home Loan you could be paying thousands more than you need to.

 Please feel free to call or email and always remember … WE WORK FOR YOU … not the bank

Question:

Why are banks charging higher interest rates on Home Loans & Investment Property Loans to their loyal clients whilst offering lower interest rates to new customers ?

Answer:

1. The banks have discovered that loyal clients don’t tend to “Shop Around” when seeking a new Home Loan or Investment Property Loan & rather will simply contact their bank or visit their local branch manager. As a result the banks don’t need to provide the lowest interest rate to win this customer’s business.
2. The banks are aware that many of their loyal customers don’t look too closely at their current interest rate which appears on their Home Loan / Investment Property Loan statement.
3. The banks are also aware that many loyal customers will simply assume their bank is continuing to provide them with a competitive interest rate similar to that which they were offered when they first established their Home Loan / Investment Property Loan.
4. If the situation arises that a loyal client approaches their bank & requests a lower interest rate the bank believes a small discount will often be sufficient to satisfy this client.

Over the last 2 weeks alone our Mortgage Specialists have assisted 7 separate families who were not aware that the interest rates they were being charged on their Home Loans were 0.50% p.a. – 0.80% p.a. higher than the interest rates their banks were currently offering to new customers.

In dollar figures these higher interest rates cost each family an additional $1,200.00 to $5,600.00 per year.

Fortunately our Mortgage Specialists don’t work for the banks & the end results were great for all 7 of these families who, after working together with their Mortgage Specialist, are now thrilled to be keeping an additional $1,200.00 p.a. – $5,600.00 each year in their own pockets.

Please remember … Our Mortgage Specialists work for YOU … not the bank

Question: How much is your bank charging for your loyalty ???

Luke & Melissa were recently contacted by their Mortgage Specialist as the fixed interest rate on their Home Loan was due to expire. During their conversation Luke mentioned that the new interest rate being offered by their bank was 4.26% p.a.

DPF informed Luke & Melissa that 4.26% was not low enough as the same bank was offering even lower rates to new clients.

Our clients were happy for DPF to negotiate with the Bank on their behalf, and absolutely thrilled when their Mortgage Specialist informed them their Home Loan interest rate was reduced to 3.75% p.a. which saves them an additional $2,682.00 p.a. (i.e. $223.00 per month).

Not a bad result for a 5 minute chat.

Q:       How much did this cost Luke & Melissa ???

A:        $Nil

Q:       Did Luke & Melissa need to refinance their Home Loan to a new bank ???

A:        No

Q:       How ???

A:        Having your own Mortgage Specialist can save you $$$

If you or someone you know are being charged too much by a Bank click on “CONTACT US” to talk with a DPF Mortgage Specialist

or

Contact us directly on 07 5527 4744 or mail@dpfinance.com.au