Rate Cuts

Why are more and more people seeking their new Home Loans via Mortgage Brokers rather than their Bank?

Listed below are some of the benefits many have discovered that may be appealing to you . . .

BROKER: Choose from 100’s of Home Loan options with dozens of Banks + Building Societies + Credit Unions + Non-Bank Lenders

BANK:      Limited to the Home Loans offered by the one Bank

BROKER: Your Mortgage Specialist will negotiate with the Banks to achieve lower interest rates & fees on your behalf

BANK:      Banks will only offer basic rates & nominal discounts unless the you are able to provide proof of “Other Bank Offers” & threaten to “Take your business elsewhere”

BROKER: Continue to have direct access with the same dedicated Mortgage Specialist before & after you take out a new Home Loan to ensure you can receive ongoing advice & assistance from the individual who knows your personal & financial circumstances

BANK:      Once your Home Loan has commenced you will be referred by the bank manager to the bank’s websites & call centres for any ongoing service requirements

BROKER: Your Mortgage Specialist will conduct reviews of your Home Loan and will inform you “How to achieve lower interest rates” if other Banks are offering better deals

BANK:       The Bank will not inform you if a competitor Bank has a superior loan product

BROKER: Is paid by the Bank not the client (i.e. Broker Commissions are NOT added on to your Home Loan)

BANK:      Is paid by the Bank not the client (i.e. Bank Manager Salaries are NOT added on to your Home Loan)  

CONCLUSION:

MORTGAGE BROKER …  WORKS for “YOU”

BANK MANAGER … WORKS for “the BANK”

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Now is a great time for Borrowers to use the record low interest rates to own their Home sooner.

HOW ???

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.

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.

The Reserve Bank Governor, Glenn Stevens, has provided great confidence to Borrowers & Home Buyers.

In his speech at the Committee for Economic Development of Australia dinner, Mr Stevens hinted that low Interest Rates are here to stay for some time … possibly years.

The RBA Governor also challenged the Federal Government to provide greater assistance to Small Business to encourage more opportunities in this sector which will in turn create jobs and reduce unemployment.

LOWEST RATE IN 139 YEARS !!!

Yet another Small Bank is leading the way with record low Home Loan Interest Rate of 3.99% p.a.

Ooooh … The Big 4 won’t be happy

BORROWERS … ASK YOUR BANK TO MATCH THIS RATE