It's time to review
On May 3, 2016 the RBA slashed the cash rate by 25 basis points to an historic low of 1.75%.
Lenders were quick to follow announcing they would pass on rate cuts of between 0.05% - 0.25%
What rate cut did your lender pass on?
If you have had your home loan for more than 2 years or you are unsure if you are receiving a competitive rate it’s a good time to call for a review.
A review of your home loan may reveal you are paying too much or maybe the product you have does not suit your lifestyle any more. Ever wanted to dispense with those credit cards and personal loans or add that extension you’ve been thinking about?
Reviewing your home loan and current financial situation can provide opportunities to save money on fees, interest and repayments. It may also highlight the need for a better structure to reduce repayments or maximise equity in your home so you can purchase that investment property you’ve had your eye on.
Whatever the outcome a review is free and it’s a good way to track how you’re going financially and make sure your home loan is in great shape and working for you.