Home Loans Australia

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Who is reaping the rewards of a low interest rate: you or your lender?

When banks don’t pass on interest rate savings, homeowners take matters into their own hands

The Reserve Bank of Australia has opted once again to leave cash rates at record-breaking lows; in fact, rates haven’t been officially raised since November 2010. Though this seems like great news for homeowners, there could be a catch.

A handful of big banks are putting the brakes on refinancing for investor loans, which means they aren’t passing those rate savings down to customers. This ban on refinancing has customers wondering what their options are. You could wait for your lender to open up refinancing again, likely at higher rates, or you could keep on paying the rate you pay now, despite the lower rates out there.

Luckily, there’s another option. Customers can still save on their mortgage by comparing home loans across a range of lenders with RateComparison.com.au. If you’re hesitant to leave your lender, ask yourself if paying more on your home loan is worth it. When you stay with a lender who charges you too much, that extra cash is going straight from your bank account to their pocket.

Here’s How You Do It:

Step 1: Select your type of property below.
Step 2: After answering a few questions, you will have the opportunity to compare quotes in your area and could be eligible for significant savings.

There’s no guarantee that the rates will stay this low forever, so it’s your right to lock in a better deal while you can find one. Shopping around can be the key to saving money on any type of home loan, whether it’s residential or an investment. If your bank is unwilling to let you refinance, then it’s time to take matters into your own hands.

Comparing home loans is easier than you think. Enter your details into the home loan finder and the system will scan its database for the best offers available to you. The database is constantly updated and includes some of Australia’s most trusted lenders, from well-known big brands to smaller boutique lenders. You’ll be able to compare loans from across the spectrum and identify the best deal you can find.

When it’s time to complete the paperwork associated with your new, more affordable, mortgage, your consultant will handle that for you. Gone are the days when you had to block out entire days to set up mortgage paperwork; now it can all be done over the phone in a matter of minutes.

Act now to reap the benefits of the current low interest rates, because they may not be available for long. Compare with RateComparison.com.au to see how easy saving money can be.

Get Started Now:

Step 1: Select your state below.
Step 2: After answering a few questions, you will have the opportunity to compare quotes in your area and could be eligible for significant savings.

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