Rate Rises

The days of locking in a record low interest rate on your Home Loan may be behind us with several banks (including Westpac) confirming they will be increasing their Fixed Interest Rates by up to 0.50% p.a.

DPF Mortgage Specialists have confirmed that Westpac will be increasing their 2, 3 + 5 Year Fixed Interest Rates as at midnight this Sunday.

The biggest increase for Westpac will relate to the 5 Year Fixed Interest Rate which will rise from 3.89% p.a. to 4.39% p.a. (Premier Advantage Package Home Loan).

Based on a $400,000.00 loan you could save up to $10,000.00 over the 5 Year Fixed Rate term by contacting Westpac today (ph: 132558) rather than waiting until Monday.

If you are not with Westpac & are considering locking in your interest rate, you may need to act fast as “Other Banks” are likely to consider following the lead of Westpac, ING, Bank of Qld, Rams & ME Bank, who have already jumped to increase their fixed interest rates.

Please note that no changes have been announced at this time relating to Variable Interest Rates.

I hope this early “Heads Up” will help you to save your $$$$

Westpac has announced an increase to the Variable Interest Rate for all existing and new Home Loans & Investment Property Loans.

The increase will be effective on 20th November 2015 with Westpac Variable Interest Rates rising to: 

Home Loans

5.68%p.a. (CR 5.82%) – Standard

4.98%p.a. CR 5.35%) – Premier Advantage Package discount of 0.70%

Investment Property Loans      

5.95%p.a. (CR 6.09%) – Standard

5.25%p.a. (CR 5.62%) – Premier Advantage Package Discount of 0.70%

These increases are the result of recent penalties being applied to Westpac by APRA, and whilst Westpac is incurring the wrath of APRA, other Banks are continuing to offer record low variable interest rates from:

Home Loans: 3.99%p.a.    (CR 4.43%)

Investment Property Loans: 4.14%p.a.    (CR 4.15%)

Based on these interest rates a Westpac customer with a loan amount of $400,000.00 can be paying higher interest charges of

Home Loans: $3,960.00 p.a. – $6,760.00 p.a.

Investment Property Loans: $4,440.00 p.a. – $7,240.00 p.a.

There are several options that may be available to Westpac customers to protect themselves from paying these higher interest rates.

Our Mortgage Specialists will personally be contacting all DPF Mortgage Specialists clients with Westpac loans over the coming days to discuss the impact of these changes and their options.

If you have any questions, or you have a friend / family member would like to discuss their options, please do not hesitate to call ph: 0755 274744 or click on ” CONTACT US “.

The Commonwealth Bank is penalising Investors by charging higher interest rates of up to 0.40% p.a. for Investment Property Loans.

These rate increases do not apply to Owner Occupied Home Loans and has sent a clear message by the CBA to investors to “Take Your Business Elsewhere” if you wish to achieve a competitive interest rate for your Investment Property Loan.

Fortunately for Investors there are many alternative Banks & Non-Bank Lenders with low interest rates who are more than keen to welcome investors as new clients.

If you have a Commonwealth Bank Investment Loan & would like to know more click on “CONTACT US” or talk to our Mortgage Specialists on ph: 0755274744

The team at DPF Mortgage Specialists wish to say a special “Thank You” to all our valued clients for your loyalty and support.

As a token of our appreciation DPF Mortgage Specialists is pleased to announce from the 1st of May 2015 – 31st July 2015 we will be rewarding our clients & supporters with a new Apple Watch if you:

• Take out a new Home Loan with DPF Mortgage Specialist and recommend a new client who proceeds with a new Home Loan with DPF Mortgage Specialists.

OR

• Recommend 2 new clients who proceed with new Home Loans with DPF Mortgage Specialists.

Over the last 17 years so many of our clients have recommended our services to their friends & family and this is our way of showing our appreciation for this wonderful & generous compliment.

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