With the first Reserve Bank interest rate rise since November 2010 came a flurry of enquiry about a loan review, fixed rates and what’s next for borrowers.
Interestingly when interest rates were holding steady borrowers were less concerned about what rate they were on.
The fact is that whether rates up going up or down if your loan is over 2 years old you’re probably paying too much.
It costs you nothing and just half an hour of your time to find out if there is a better deal out there for you and from our experience there normally is.
Some clients are asking about fixed rates. Last year I wrote the following blog (click here) Unfortunately I believe the horse has now well and truly bolted on fixed rates. However we can analyse your personal circumstances to way up any benefit to you.
We are also sometimes asked about lender cashbacks. When we analyse a borrowers requirements we do not consider cashbacks as a priority nor do we promote them. There are other important considerations such as lending policy, interest rate and borrowing capacity. If you would like to include cashbacks in our discussions that’s easy done.
The bottom line is if your loan settled two years ago or more, we recommend you find time for yourself and work with us on a Finance Health Check.
While we are at it we can see if we can save you money and improve cashflow by reviewing all of your debts, including commercial property debt, asset finance, credit cards, car loans, personal loans etc.
We will be very, very surprised if we can’t save you some of your hard-earned.
Please call me anytime on 0409 02 99 22 and we’ll get the ball rolling.