Dec 2018 2 Minutes
Time To Give Your Finances A Spring Clean?
When was the last time you checked your current loan details? Summer is here so it's the perfect time to give your finances a spring clean!
Whilst many lenders home loan rates went up a little last month, they are becoming increasingly competitive in the home and residential investment loan space. Many lenders are offering incentives for new lending including flyer points and cashback offers from between $1,250 and $3,500! Rebates vary between lenders and have a few criteria to meet. It’s a great time to consider a review of your lending right now!!
We find that most people don’t take much notice of their home loan rates until reminded by a trusted advisor to check their current loan details. This is when it becomes obvious that their incumbent bank has put through a few rate rises since they last checked! Or perhaps the loan was set so long ago that the rates are just not competitive in todays’ environment.
We recently refinanced one client for a $630k loan and saved them 1% on their interest rate!! This equated to an interest saving of $6,300 per year and a cashback of $1,500 – a fantastic saving and cash flow relief of over $500 per month.
So, if it’s been a while since you reviewed your existing loans or you are thinking of making a purchase which requires new borrowings, call us now to ensure your finance package is the best it can be!
Written by guest blogger Julie Bishop, Cohesive Finance. ACL 498099
Julie is a Partner in Cohesive Finance and has over 20 years banking experience. If you would like to get in contact with Julie to discuss your individual situation, then please contact the Walker Wayland office and someone can put you in touch.