Call your bank for a better deal on your home loan

I tested out a theory today.  I called my bank this morning to ask for a better interest rate for my home loan.  I’m on a pretty good rate already (given I am a broker, I should be!).  But I simply just asked the question.  It was that simple.  And the result?  I’ve saved $600 per annum or $50 per …

Making the most of low interest rates

It’s great news that the recent Reserve Bank Cash Rate Decision has seen banks pass on a reduction to Home Loan Customers. Not all banks passed on the whole amount, but most did. Some are now suggesting there will be another interest rate cut later this year. Maybe in August/September. It isn’t really possible to predict but even at their …

Why Refinance?

How much attention do you pay to your home loan? If you haven’t reviewed it for the past 2 or so years, it is possible you are missing out on some significant opportunities. Here are a few: • There’s the opportunity to save money by improving your interest rate. • The option to fix a rate to achieve repayment certainty. …

Should I lock in my interest rate?

I am often asked whether now is a good time to fix (or lock in) Interest rates on loans.  The answer is always the same – it depends on your motivation for fixing! One of the biggest traps a borrower can fall into is to fix their interest rate with the intention of saving money compared to a variable rate.  Whilst it could certainly …

What’s your story?

Many years ago, early in my career, I was given the opportunity to write and win my first cash flow deal. The  prospect ran a group of Gymnasiums with a complex structure and an even more complex request for finance. Enthusiastically I absorbed and interpreted all the financial data available to me. I left no stone unturned and prepared a detailed …