9 September 2014
Finance Update from Portfolio Capital
Both bank and non-bank mortgage lenders are currently
experiencing intense competition with record low rates on offer -
primarily due to lenders' access to cheap capital from the
international money markets. Many lenders have reduced their
5 year fixed rate offerings to sub-five percent levels with rates
going as low as the mid-4% range for shorter fixed rate terms.
Some lenders are even offering 100% offset accounts or unlimited
extra payments and redraw on their fixed rate loans. This
provides all the flexibility of a variable rate loan as well as the
certainty offered by a fixed rate.
Of course, it's not just fixed rates that are attracting stiff
competition. Depending on loan size, rate discounts of 1.05%
or more are available from some lenders on their variable rate
packages. This is also seeing variable rate loans dropping
well below the 5% mark.
In this environment it may well be time to review your current
financial arrangements - both in terms of your current financing
costs and to ensure that your loan structuring is providing you
with the flexibility to meet your future needs.
If you would like to undertake an obligation free review of your
existing loans simply contact us at firstname.lastname@example.org
and we'll get straight back to you.
Authorised Credit Representative Number 458789