- ENQUIRE ONLINE OR CALL US
- 08 8451 1500
The RBA’s interest rate statement for March 2023
The RBA’s interest rate statement for April 2023
How to pay less interest on your loans…
As your trusted finance broker, it’s our job to find you the best possible deal when buying a property.
However, over time lenders ‘adjust’ their rates as they look to maximise the profits on their existing loan portfolio while also competing in the ‘market’ to win new customers.
The result – new customers almost always get offered lower interest rates than existing customers – so much for being ‘loyal’ right!
So, how do you make sure you’re not getting ripped off by your lender?…
OPTION 1 – REPRICE YOUR EXISTING LOANS [DIY OR ASSISTED]
Want to always be on the best rate with your lender?… make them compete for your business!
Simply pick up the phone and give them a call – tell them you are seriously considering moving your loan/s to a different lender unless they reduce your interest rate.
By the way if you don’t feel comfortable doing this we will happily do it for you!
Called a Reprice Request – it’s where you find out how much your bank really loves you 🙂
Don’t be surprised if they reduce your interest rate by 0.10 – 0.50% right there and then.
We’ve had clients achieve rate reductions as high as 1.70% just by making a phone call!
OPTION 2 – REFINANCE TO A NEW LENDER
If your lender won’t budge, then your next option is to find out if another lender will offer you a better rate!
This is where we work our magic to see if we can refinance you to a cheaper loan.
Keep in mind, if you’ve recently arranged your loan through us, it’s unlikely switching to a new lender will benefit you.
If however, you’ve been with the same lender for 18-24 months or you’re coming out of a fixed rate period, you should definitely review your options.
The good news is switching lenders has never been easier, and some banks are offering as much as $5,000 to get you to become their ‘new customer’!
Here’s a selection of cash back promotions currently on offer;
| AMP | $4,000 |
| ANZ | $4,000 |
| Bank of Melbourne | $4,000 |
| Bank SA | $4,000 |
| Bankwest | $3,000 |
| BOQ | $3,000 |
| CBA | $2,000 |
| Citibank | $5,000 |
| Credit Union SA | $2,500 |
| Great Southern Bank | $3,000 |
| Heritage | $4,000 |
| ING | $3,000 |
| ME Bank | $4,000 |
| MyState | $3,000 |
| NAB | $2,000 |
| Newcastle Permanent | $2,000 |
| People’s Choice Credit Union | $4,000 |
| P&N Bank | $3,000 |
| St George | $4,000 |
| Suncorp | $4,000 |
| Ubank | $5,000 |
| Westpac | $3,500 |
Book a FREE Finance Review now…
According to new research one in three mortgage holders plan on refinancing their home loan in 2023. Here are some of the reasons given;
- Secure a better/cheaper interest rate
- Reduce monthly loan repayments
- Lender won’t give same interest rate as new customers
- Cash out to have a buffer for increasing costs of living
- Want to fix at current rates before they go up further
- Avoid higher ‘revert rate’ after fixed loan period ends
- Release equity before house prices fall too far or serviceability reduces
Whatever your reason we can help you refinance to a better deal!
>> Simply request your FREE Finance Review, reply to this email, or call 08 8451 1500 with the details of your current home/investment and other loans.
We’ll assess your situation and tell you whether you can save a significant amount of money switching lenders, or whether what you have in place is ok and doesn’t need changing.
You’ve got nothing to lose and everything to gain – so do yourself a favour, and let us help you keep hold of more of your hard-earned money!
Cheers,
Sam, Matt & Team
Urbantech Finance
PS. Right now you can get up to $5,000 cash back by refinancing to a new lender!
PPS. Don’t wait! Get on the front foot now – click here or call 08 8451 1500 to schedule in your complimentary finance review.
