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Cathy D.
Cathy D.
Rosebery, NSW
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Last year the bank cut the rate on our home loan from 4.72% to 4.25% - at the time we were very happy but can I ask if our rate is too high and is now a good time to be looking at fixing some of the loan?
Thanks

last month

Responses

Hi Cathy,

If your home is owner occupied, you can now get rates from 3.69% or so,
If it is an investment loan, the variable rate is not too bad.

Is this a home loan fro the property you live at?

Please fee free to call me.

thank you
0414 545 643

Whether to fix or not is dependent on your situation Cathy.
There are rates available today around the 3.6% - 3.7% range.
Some of these are fixed and some variable.
Naturally your own bank will tell you that they are the best for you.
Every other bank in Rosebery would tell you the same.
What you must do is sit down with a competent finance professional, have that person analyse your current circumstances and then, if appropriate, help you into a new home loan.
Appreciate that finance brokers are now mandated to ensure they put the clients interests ahead of all other considerations.
Bank employees will always put their employers interests ahead of the clients. That is their job.

Hi Cathey,

If it’s owner occupied, yes you are paying higher interest rate.
Regarding fixing the loan amounts, it depends in your cash flow & other debts. If everything is good then you can think of splitting the amount.

Regards

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