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Fixed Rate Home Loans Increase for 3 & 5 Year Terms

For the third consecutive month the RBA has left the cash rate on hold. We are however seeing an upward trend within the 3 to 5 year fixed rates. It would appear that the Banks appetite for discounting in this product segment is over. 

The big four banks have all recently increased their fixed rate offerings. Remember, fixed rates are generally more expensive than variable rates. After all, you're paying for peace of mind. When considering a fixed rate:

  • check the fees associated with the loan;
  • the costs if you exit the loan early;
  • check if you can make extra repayments; and
  • whether you can have an offset account linked to the loan.
Aren't sure whether to fix or not?
If you aren't sure whether to fix or not, as a general rule you do have the option of splitting the loan between fixed and variable – so you can enjoy the flexibility of both worlds.

And there are some great variable rates still on offer if you know where to look…

Great variable rates are still on offer!

As always, please feel free to call us at any time if you wish to review your current finances

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)

Spring Cleaning

For the second consecutive month the RBA has left the cash rate on hold at 2.50% as business and consumer confidence edges higher and the real estate market continues to recover.
Is it time to review your current finances?

It is amazing just how many of us use the “head in the sand” mentality to avoid discovering that our savings are not what we thought they were. Taking steps to create a budget involves more than simply preparing a list of income versus expenditure. You also need to keep a constant track of spending against income streams to ensure the budget is in fact staying on track.

Your loans are a significant part of monthly expenses. There are many different banking options available and it is hard to know where to start. Most people get their advice from a bank – what sort of accounts to open and what type of loans are best suited. With most bank profits coming from their smallest account holders this is like asking the mouse where to keep the cheese!

Obtaining independent advice on what would work best for you is an important part of setting up your finance platform successfully.

Spring Clean your Banking Finance

Please feel free to call us at any time if you wish to discuss any of these services or would simply like a review of your existing loan facilities.

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)

 

Low Rates Fuel Spring Time Property Price Rises

Not surprisingly the RBA has just announced rates are on hold, given the pending Federal Election it looks like we are in a holding pattern at least until the dust settles!
The Housing Industry Association (HIA) recently released its quarterly housing affordability index for the June quarter of 2013, which registered another improvement. From the Media Release: ‘The cyclical improvement in housing affordability continued in the June 2013 quarter... The HIA-Commonwealth Bank Housing Affordability Index increased by 4.4 per cent in the June 2013 quarter to a level of 72.8. A synchronised increase across the capital cities and non-metro areas drove the further improvement in the June 2013 quarter’.

Key market trends indicate that your options to consider purchasing or refinancing are favourable;
  • low interest rates making home loans more affordable;
  • the growth of SMSFs as a vehicle to hold property investments;
  • increased confidence in the global economy.

Property Prices Rise

Please feel free to call us at any time if you wish to discuss any of these services or would simply like a review of your existing loan facilities.

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)

 

Interest Rates At Historic Lows

Great News!!
The RBA has just announced a further reduction to the official cash rate of 25 basis points (0.25%). At 2.50% the rate is now at 50 year lows. Most of the lenders have followed suit, with some even reducing their interest rates by more than the 25 basis points!

When interest rates decrease you can pay off your loan faster by keeping your loan repayments constant or even increasing them where possible.

For those of you that have paid your loan down to a comfortable level it may be an opportune time to revisit how best to use the equity acquired.

For those of you that have not significantly paid down your mortgage it is a terrific time to compare your existing rate or product to others that are on offer.

Bank Logos

Please feel free to call us at any time if you wish to discuss any of these services.

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

 

 

Property Loan Rates Continue to Fall

Welcome to our Home Loan News Alert!

Glenferrie Group Lending Services will be keeping you posted with current industry news, rate and product specials on a regular basis.

We also welcome to the team Peter Cleary as a dedicated Mortgage Broker with over twenty years experience with Bendigo Bank, St George Bank and others. Together with Adrian they are available to assist with any lending queries or assistance you may require.

Rates continue to fall, but we are not sure for how much longer. The following fixed rate of 4.54%* is now available via our lending channels:

1 Year Fixed Rate - 4.54%pa* Interest rate is 4.54%pa fixed for 1 year, reverting to 5.13%pa variable correct as at 21/6/2013. The interest rate may vary at any time without notice. Available to new clients only, and may be withdrawn at any time. LVR<75%. Minimum loan amount $200,000. $330 annual fee applies. Comparison rate based on a loan of $150,000 over 25 years.
Warning: This comparison rate is true only for the example or examples given and may not include all fees and charges. Different terms, fees or other loan amounts may result in a different comparison rate.
Glenferrie Group Lending Services Pty Ltd. (Australian Credit Licence number 395011).

This rate is significantly below the current variable home loan rates on offer. If you would like a free review of your existing loans or want to discuss any finance related matters, please give us a call on 03 9912 1212.

We encourage you to browse our new website and explore our services.

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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