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 …

How the banks help the ATO….

When it comes to small business, the ATO must love the Big Banks these days. Why? Banks have placed a high level of importance on businesses having their tax affairs in order. If businesses have tax arrears or even an ATO sanctioned repayment arrangement in place, obtaining finance can be tough. Invariably, before approving or continuing funding arrangements, businesses will …

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 …

The relationship banker revolving door

One of the biggest frustrations for business banking clients is the regular turnover of relationship managers. Clients invest time and energy explaining their business to their bankers in order to achieve a strong relationship. Rapport and trust is built over time and many meetings. So when a banker moves on, the process of building this relationship must start again. Almost …

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 …