Would you like a rate reduction on your home loan?

Written by Michael Lawes

You’ve probably noticed that banks typically offer their new customers a more competitive rate, but don’t offer the better rate to existing customers unless you specifically ask for it.

What most people don't realise, is that mortgage brokers can request a rate reduction on your behalf (with most banks). Unfortunately, many brokers don't do this which means that when banks raise their rates with small out-of-cycle increases, you end up paying more for your mortgage than you should. In fact, the average difference in rates that banks offer new customers compared to existing ones is around 0.4%. Closing this gap could make a significant improvement to your cash flow and allow you to pay off your mortgage sooner.

With the rate rises causing the average mortgage holder to pay an additional $1,300 per month on their mortgage, we have decided to do something about it!

We have partnered up with the team at Circle Finance Group to arrange a complimentary rate reduction request for you.

If you would like us to do the heavy lifting for you and keep your lender honest by requesting a rate reduction on your behalf, simply complete this brief form and we’ll get back to you to shortly with the outcome of the request.

* Please note that only variable rate loans are eligible for a rate review.

Credit Representative 550477 is authorised under Australian Credit Licence 389328.

Disclaimer: The content of this article is general in nature and is presented for informative purposes. It is not intended to constitute tax or financial advice, whether general or personal nor is it intended to imply any recommendation or opinion about a financial product. It does not take into consideration your personal situation and may not be relevant to circumstances. Before taking any action, consider your own particular circumstances and seek professional advice. This content is protected by copyright laws and various other intellectual property laws. It is not to be modified, reproduced or republished without prior written consent.