We are about to ask you four simple questions:
What year did we settle your loan for you?
Was is longer than four years?
Have you been to see us since?
Do you know what your current interest rate is?
We told you the questions were simple. There’s a but…
If you answered that you haven’t seen your broker in the past four years, were you aware that loans written four or more years ago, charge an average 40 basis points higher interest than the current market is offering? That’s 4-0!
According to a study conducted by the Reserve Bank of Australia (RBA), borrowers with a loan of 4+ years old with a balance of $250,000 pay an additional $1,000 worth of extra interest repayments every year and the additional interest amounts will continue to increase as the loan matures. Now, think about what could you do with an extra $1,000 in your pocket per year?
Have we convinced you that you need to review your loan yet? Good. Now pick up your phone and give us a call on 6260 7880 and we’ll arrange an appointment with your broker to ensure that your mortgage is up to date with the best rate for your situation. Simple.