Do you know the current interest rate on your home loan, investment loan or business loan?
If you do, then you are ahead of most other people.
In recent times, all the banks have made many changes to their interest rates. Now there are different interest rates for owner occupier, investment, interest only and loans over 80%.
This makes interest rates more confusing than ever.
So what can you about it?
The first step is to always check the current interest rates on your loans.
The best way to do this is via internet banking. By selecting the loan account details you will see the current interest rate. It’s that easy.
Once you know your current interest rate, then you can move to the next step by comparing your current rate to rates from other lenders…. this is where it gets confusing.
You can use self-help comparison websites, but these days there are hundreds of different loans on the market. And no one really has time to go through all that information.
Importantly, if you make the wrong decision, it could cost you thousands over the life of your loan. So you need to get it right.
What is the best way?
A finance broker can help you find the right lender and loan package to suit your unique needs and circumstances.
The advantage of working with a finance broker is that they have knowledge of a broad spread of products from multiple lenders. They have a duty of care to provide the best possible advice to you.
Click here for more information on how we can help you: What we do