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Is My Loan Competitive

Is My Loan Competitive

Would you be shocked if we said the typical Australian borrower is paying more interest on their debts than they should be?

Well, be shocked, because based on our experience its true.

If your loan is older than 2 years, it is highly likely, again based on our experience that you are paying between 0.30% to even a staggering 2.49% higher than current rates being offered by your lender to NEW clients for NEW loans.

To add insult to injury, often existing clients and their loans do not qualify for their lenders new cheaper rates offered. They reward the new clients which disadvantages existing clients.

Some borrowers think these variances are not a big deal - that is until the actiual calculations of savings are done and then they become quite upset at the waste of money.

Dont let the lenders win at your expense. Your goal should be to pay the least amount of interest possible for the WHOLE duration of the loan.

Mortgages are complex

The complexity of mortgages is considerable with all their levels of interest rates and amount of the loan plus establishment and other fees plus monthly and annual charges plus the multitiude of different credit policies between the lenders.

All borrowers need someone with expertice to assist them work though all these issues so they can accurately determine which is the most suitable product for them at low rates and fees.

Interest rates are confusing the way they are advertised and typically favor the lender. The interest rate you see advertised is most likely not be the true cost of that loan. Lenders often quote what we call a basic rate which does not take into account all the set up costs and ongoing fees and charges. Borrowers need to look at what is termed the Comparison Rate which includes all these fees and charges into the rate. We will calculate this for you so you can chose the product you want from the rest at the same true cost paying field.

What do you need to do to determine if your loan is competitive?

Thats easy. Just contact us.

Check now if your loan is competitive.

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