by Australian Finance Planning | Aug 28, 2014 | Interest Rate
LOWEST INTEREST RATES EVER
SAVE MONEY NOW!!
Historically lowest interest rates from the RBA for the past 12 months have created intense competition from all Banks. Now is the time to check you loans and re-negotiate the interest rate you are currently paying.
Banks have a nominal advertised Standard Variable interest rate but will now negotiate 0.7% to 1.2% discounts off the Standard Variable rate depending on loan size and the strength of the Borrower.
You still need to find a loan that best suits your particular objectives, needs and be flexible as the lowest interest rate loan may be inflexible with hidden costs and charges for any changes. The best loan feature you need is a full Offset account to reduce interest costs.
Variable rates are flexible and great when interest rates fall but can be stressful and more expensive when interest rates increase.
Now is a great time to fix your interest rates for 3 years at 4.65% and for 5 years at 4.99%. The key to fixing interest rates is timing as you want to fix interest rates about 0.5% from the lowest variable interest rates as the market increases longer term interest rates before we hit the lowest variable rate.
Fixed interest rates give you better cashflow certainty and less debt stress when variable interest rates start to go up again. Banks often use fear to get you to fix interest rates just before the top of the interest rate cycle to lock in extra profits.
If you are uncertain, you can always split your loan into part fixed and part variable interest rates.
Contact your Mortgage Broker now to refinance or negotiate a better deal on your loans.
by Australian Finance Planning | Aug 27, 2014 | Business, Finance, Interest Rate
There have been lots of speculation around if the interest rates are going to stay down and whether we will even see them this low again in our lifetimes. Currently at the time of this blog the RBA has held its cash rate steady for 15 months now at 2.5%. The rate has remain unchanged since August 2013, but according to a survey of 12 economists all saying they have predicted a rate hike in 2015.
So in the next 12 months interest rate are going to go up and you’re not going to be able to take advantage of the incredibly low interest rates the banks are offering. Refinancing existing loans using a fixed rate is one of the most effective way to save thousands of dollars a year.
So you only have the next 12 months to take advantage of these incredible low rates, there won’t be a better time possibly in our lifetime to obtain a loan or refinance.
Get in contact with us for a free consultation to see if you can take advantage.
by Australian Finance Planning | Aug 27, 2014 | Business, Finance, Interest Rate, Refinance
With the current interest rates being slow incredibly low you could be saving thousands a year! Have you refinanced yet?
No? Well, what are you doing?
Everyone wants to improve their cash flow and everyone sits there and says they wish they had more money to do this and that. Yet we are seeing the lowest interest rates we have seen or are likely to see in this lifetime yet not many people are flying out of their seat to refinance their loans.
I don’t know about you but I’d love to save thousands a year. If your Boss came to you and said I would like to offer you a $10,000 pay rise would you be happy? I hope so, and that is potentially what you could be saving by refinancing.The Current fixed rate will allow you to take advantage of these incredibly low rates for years to come. So I ask again why you haven’t considered refinancing?
We offers free loan comparisons for anyone to see if you could save thousands, all our services are free of charge and we would love to help. Get in contact with us today.
More about Refinance here
