Rate Discounts for Principal and Interest Loans

Have you got the letter from your bank yet? Your mortgage could now be costing you thousands more per annum in interest!

Welcome to our July News Brief!

We are seeing ever increasing and substantial changes to interest only based lending policies that Banks/Lenders have implemented as a result of government regulatory compliance measures to reduce banks’ exposure to this type of asset.

Interest only lending is seen as risky for a bank as the principal is not required to be repaid and is also a source of funding for investment properties that may be contributing to rising property prices.

As a result of these changes Banks are now offering incentives by way of rate discounts for both principal and interest variable and fixed rate terms for both the owner occupied and investment loan products, as they move away from interest only based repayment options.

If you would like us to assist you by conducting a review on your current home loan call us today. We are sure to provide some sound options/alternatives for you to consider as each bank’s approach to interest only and principal and interest loan products differs.

It could save you thousands! Need any more motivation to review your mortgage?

Low Principal and Interest discount rates

If we can assist you in any way please don’t hesitate to contact us.

Please note our “free loan review” is open to all valued Glenferrie Group clients, their families and friends.

Adrian Rogers - Director / MFAA Credit Adviser

Peter Cleary - MFAA Credit Adviser

Until next time...

Kind Regards,
Glenferrie Group Lending
Level 2, 691 Burke Road, Hawthorn East, VIC 3123 
P.O. Box 1116, Camberwell, VIC 3124

Phone:(03) 9912 1212 | Fax:(03) 9882 0808

 

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