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Finance Only
Finance Only

Finance Only

The Coalition confirms it will rule out negative gearing from tax reform ahead of the election.

After weeks of suggesting the government might make some changes to negative gearing at the higher end of the income scale, Mr Turnbull said it was "common sense" to make no adjustments to existing arrangements.

RBA held interest rates steady at 2.00% for a 10th straight policy meeting today as widely expected.

However the door was once again left open to a rate cut should developments in economy, such as inflation, unemployment or risks from offshore warrant it, but there was little sign a move might be imminent.

"The board judged that there were reasonable prospects for continued growth in the economy," RBA Governer Glenn Stevens said in a brief statement.

"Continued low inflation would provide scope of easier policy, should that be a appropriate to lend support to demand," Mr. Steven said.

 

Take out a mortgage is a big commitment. Like anything valuable in life, such as car, house and own health, mortgage needs to be protected in case something unexpected happens.

Many Australians with mortgages do not have adequate cover in place to service their loan in the event they lost their job, suffered a serious illness, injury or death.

It is important that you take the time to consider how you would meet your loan repayments should the unthinkable happen. 

We can arrange a simple, easy to understand and affordable solution that provides peace of mind by helping you and your family, your assets and lifestyle.

Simply ask your personal lending manager for the options.

Gus Friends, a corporate accountant, had had a mortgage with one major bank for several years.

Recently he completed a mortgage health check which eventually saved him more than two thousand dollars a year. "We took out a mortgage for our first home with one big bank three years ago. After we have had a child, our income was reduced as my wife took maternity leave. We felt a bit stretched financially. So we had a mortgage health check with a lending manager," said Gus.

A quick mortgage health check lets you get a clear picture of where you stand with your mortgage and finance and find out if you are paying the best possible interest rates and how much you can reduce the repayment.

You might have a higher interest rate loan when you took out the mortgage because of higher LVR at the time. With increase in property value and reduction of loan principal over period of time, the loan LVR may have well dropped which makes lower interest rate loans available for you.

For a loan of $500,000, a reduction of 0.20% in interest rates can save you more than one thousand dollars a year in interest cost.

“The whole process was straight forward and helped us see how we can improve our cash flow,” Gus said. “Our lending manager then gave us a tailor-made solution to reduce the repayment. We also got a free valuation over our property.”

Through a mortgage health check, you may also identify other opportunities hidden in your properties, either for investment or lifestyle.

To find out if you are having the best interest rates and receive a free and obligation-free mortgage health check with a complimentary CoreLogic RP Data property valuation, simply give us a call on 1300 884 689 or send us an email now.

As a home owner or investor, when choosing a home or investment loan you should consider more than just today’s interest rates and which lender to choose. You must decide between fixed or variable rate loans and choose the loan that’s right for you.

A variable interest rate loan is a loan in which the interest rate charged varies as market interest rates change. As a result, your payments will vary as well.

The main feature of variable rate loan is its flexibility. You are usually allowed to make unlimited additional repayments as well as redraws. Many variable rate loans also offer facilities such as offset account.

Fixed interest rate loans are loans in which the interest rate charged will remain fixed for the certain period of time, from 1 to 10 years, no matter what market interest rates do. This will result in your payments being the same over the entire term (as long as you choose principal and interest repayment). Shorter term fixed rates are usually lower than longer term ones.

Compared with variable rate loan, fixed rate loans are less flexible. There are limitations on additional repayments and redraws. Also if you want to terminate the fixed rate loans before the term expires, you are subject to lender’s break cost.

Generally speaking, if interest rates are relatively low, but are about to increase, then it will be better to lock in your loan at that fixed rate. Your interest rate on the loan will remain fixed, even if interest rates climb to higher levels.

On the other hand, if interest rates are on the decline, then it would be better to have a variable rate loan. As market interest rates fall, so will the interest rate on your loan, hence your repayments.

If you are on a predictable income and want to stick with the loan repayment in the near future, a fixed rate loan is a good choice for you, as your loan repayment will be locked in for the entire fixed rate loan term.

On the other hand, if you plan to sell your property or rebuild your home, the flexibility from variable rate loan may be more important for you.

Why not taking the benefit from both worlds by mixing variable rate and fixed rates? It can be a good choice as well.

Above discussion is simplistic, as which loan or combination of loans are right for you depends on your individual situation and requirement. Are interest rates going to rise soon? How much more repayment I can afford if rates do rise? How about for investment loan?

Ask our lending manager. With experience of structuring loan solutions that are right for individual borrowers, they will give you the right answers.

The Reserve Bank of Australia has kept the cash rate on hold at its record low level of 2 per cent.

It is the eighth month in a row the RBA has left the cash rate on hold, with most economists expecting no change until the second half of this year at the earliest.

Mr. Glenn Stevens let the market to guess when and even whether next rate cut to come. On one hand, he left the door open for further monetary easing in the statement accompanying the rate decision. On the other hand, he remained optimistic about the local economy as a whole.

For home loan borrowers, more interesting is what the banks will do without RBA's cash rate movement.

In the end of day, banks determine their mortgage rate by so called "lending cost", not RBA's cash rate, and the margin they want to put on as their profit.

It is most evident by fixed interest rates which are totally independent of RBA's cash rate decision.

Recently we have also experienced banks increasing variable rates on their own.

Major banks started dancing to their own tune by raising interest rates between 0.15% to 0.20% in October, blaming tougher lending regulation. And smaller lenders all followed suit, even though the regulatory changes didn't apply to them.

Is it going to become a norm? Only time can tell.

Application Made Easy

28 February 2016, 12:00 am

Loan application can be daunting and complex. 

We have made the whole loan application process easy for you.

Before anything else, your application is managed by a dedicated personal lending manager. Your personal lending manager will be with you at every steps of process, from choosing right loan structure, preparing application, collecting supporting document to status follow up and settlement.

With us, you don't need to complete application form. We will do it for you.

And we only need to collect the minimum supporting documents.

In most cases, we will arrange up-front valuation for your property, so that you will know exactly how much you can borrow before actual application process.

During loan assessment process, we will keep you informe with every stages of application. We will use any type of communication methods you prefer, such as email, phone calls, sms and facebook private messaging. 

We will also assist you with completing and signing loan contract.

During settlement stage, we will liaise with your solicitor / conveyancer to ensure a smooth settlement.

With rich experience and state-of-art technology we ensure your next loan application to be a smooth and hassle free one.

To find out more about our easy application process and how personal lending manager will help you, simply contact us now. 

ave to pay higher rates just because the loan is for investment. We have helped many borrowers get investment loans at lower rates. 

Changing bank has become easier with our personalised services and simplified application process. 

Our lending managers are experienced and focused to ensure you will get a better loan solution than the current one to achieve savings.

Interested in knowing how your home loan will improve with smart switch over? Simply give us a call on 1300 884 689or make an enquiry now.

The Reserve Bank of Australia has decided to keep the cash rate on hold at its record low level of 2 per cent.

It is the seventh month in a row the RBA has left the cash rate on hold, with most economists expecting no change even at its next board meeting of in February.

If your bank has recently increased your interest rates and refused to negotiate, you can vote against them with feet.

Jason Hurley was with one of major banks for his home loan for many years.

"I've been a long time customer with a big bank, as I thought they would look after loyal customers. When I came back to them to negotiate for better rate after they had increased their rates 2 months ago, they simply refused to do so", said Jason.

Like Jason, many home owners and investors have been hit by recent rate increases by their lenders, ranging from 0.20%pa to 0.40%pa. For a mortgage of $500,000, it can cost borrowers more than $1,000 a year.

"We searched the internet for better deals and found a much better loan with very low fixed and variable rates combination." Jason said. "The rates we have now are even lower than that we had before. It saves us more than $2,000 a year for interest. It's great".

The interest rates are in historical lows. We have access to loans whose rates are as low as 3.89%. And you don't have to pay higher rates just because the loan is for investment. We have helped many borrowers get investment loans at lower rates. 

Changing bank has become easier with our personalised services and simplified application process. 

Our lending managers are experienced and focused to ensure you will get a better loan solution than the current one to achieve savings.

Interested in knowing how your home loan will improve with smart switch over? Simply give us a call on 1300 884 689 or make an enquiry now.

 

Variable rates from 3.99%

13 February 2016, 12:00 am

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Offset variable rate

 

With no fee, you will get the best deal on your home loan.

Plus you can borrow up to 99.9%!

 

Variable rate from

 

Comp. rate

 

4.14%pa

4.14%pa

 

100% offset account with no on-going fee!

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 Loan Amount  Interest Rate p.a.  Comparison Rate p.a.
 $150k - $499k  4.24%  4.24%
 $500k and over   4.14%  4.14%

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Key facts

  • Nil application fee
  • Nil valuation fee
  • Nil on-going fee
  • Max LVR 99.9% with LMI
  • 100% offset account, free of charge

 

Unique features

  • Same rate for investment (conditions apply)
  • Balance sheet lending
  • Multiple splits with individual offset accounts
  • Unlimited repayment and redraw
  • $100 free monthly transaction allowance for ATM/EFTPOS

 

You can use this loan for

  • Owner occupying
  • Investment (conditions apply)
  • Purchasing or refinancing
  • Established property
  • House/land package or construction

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