Try something new? Some home loan insight
Did you know there is a general practice in the business of banking and home loans to offer the latest deals to new clients? The result is that existing clients are left in the dark and could very well miss the opportunity to gain access to these innovations.
Daniel Pym of Loan Market advises that in order to take advantage of these new products, you have to do your research and determine what is being offered on the market. At the moment for owner occupied home loans, if you are borrowing more than $250,000 then the optimum rates on the market are 3.99%. Anything more than that should seriously be reconsidered.
If you are happy with the service of your current lender and just can’t be bothered to deal with the stress of refinancing, then call up your current provider and try to negotiate.
As rule of thumb however, if you have had a loan for more than 3 years you will almost always get a better deal by refinancing. Try something new, give Daniel Pym a call today 0412 838 490.