Matt Leech 6th November 2012
I know its Melbourne Cup today (it’s all I've been hearing about) but I'm also expecting the RBA to cut interest rates today.
There are many variable rate borrowers across Australia still waiting for their lender to announce a rate cut, and there will be further disappointment when you realise that your lender kept some or even all of the rate cut rather than passing this onto you!
Many borrowers might be feeling complacent about their home loan: all lenders are doing the same thing, so what’s the difference? When in reality NOW is the time to review your home loan!
Because of the reduction in borrowers, the banks are offering discounts on standard variables in addition to the rate cuts which means you can get a better deal.
Be smart and review your home loan because you will score some big savings by giving your home loan a health check and negotiating to switch home loans.
Don’t let your lender dictate your financial situation for the next 30 years of your life. Use the power of knowledge and take advantage of the slow mortgage market to score a bigger discount on your home loan.
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