Let Equitimax review your Loan
The Current Banking Environment
· International Economies are under the Spotlight· Ratings Agency - Downgrades
· Australian Banks recording record profits
· Slowing Australian Retail Market
· Tightening of Lending Credit Policies
· Talk of an Interest Cut by the RBA (previously it was tipped to be an Increase)
· Cost of Funding reduced
· Decline First Home Owners and New Loans Applications
· Lenders offering cheaper pricing for loans with higher equity ratios
· Increased Competition for Quality Loans
MORE COMPETITION = BETTER INTEREST RATES
· Fixed Rates are dropping
· Standard Variable Rate has remained unchanged
· Bigger discounts are available for new money applications
IF YOU DO NOTHING . . . . . .
YOUR RATE WILL NOT CHANGE !
· Why are you not getting the best rate? · Ask us how you can.
REVIEW YOUR LOAN and SAVE THOUSANDS*
The review should take you less than 10 mins – All we need is some information about your current loan such as
1. Your Current Loan Balance
2. Your Current Interest Rate
*savings depend on your specific loan. For example if Equitimax could save someone with a $500,000 loan just 0.10% that would save them $2,000 in just 4 years.
Q. I want a cheaper rate, what are my options?
A. (a) Refinance your loan to a cheaper lender – Equitimax can help.
(b) Apply for a loan increase – your lender may give you better pricing – Equitimax can help.
(c) Apply for pricing from your existing lender – Equitimax can help.
(d) Consolidate loans – your lender may give you better pricing – Equitimax can help
Q. What Interest Rate should I be getting?
A. This depends on your specific loan. There is no correct answer. Your loan rate depends on your current lender, the amount of your loan, the equity you have in your loan, you loan history & what sort of home loan you have. Most Variable Rates are around 7.0% at the moment. So if you are paying a rate higher than 7.0% you should definitely give us a call.
Q. Is it a good time to fix?
A. Fixed rates are changing almost daily – sometimes it is best to wait until the dust settles. The good news is that they are going down and we believe there will be more lenders dropping their fixed rates soon.
Q. But Fixed Rates are currently cheaper than Variable Rates?
A. Fixed rates vary from lender to lender, however it is possible to fix in between 6.39%% and 6.79% for 2-3 years. In most cases this will be a reduction from what clients are currently paying and therefore this is a real saving.
Q. What Fixed Rates are available at the moment?
A. Below is the table of rates as at 23/08/2011|
Lender
|
1yr Fixed
|
2yr Fixed
|
3yr Fixed
|
4yr Fixed
|
5yr Fixed
|
Standard
|
Basic
|
AMP Banking
|
6.69%
|
6.69%
|
6.69%
|
6.99%
|
7.79%
|
7.02%
| |
ANZ Bank
|
6.59%
|
6.44%
|
6.44%
|
6.89%
|
6.99%
|
7.80%
|
7.10%
|
Bankwest
|
6.99%
|
6.89%
|
6.99%
|
7.54%
|
7.59%
|
7.70%
|
7.10%
|
Citibank
|
6.79%
|
6.34%
|
6.34%
|
6.45%
|
6.74%
|
8.02%
|
6.95%
|
CBA
|
6.59%
|
6.59%
|
6.59%
|
6.99%
|
6.99%
|
7.81%
|
6.99%
|
Heritage
|
6.85%
|
6.95%
|
7.05%
|
7.49%
|
7.44%
|
7.03%
| |
Homeside Lending
|
6.59%
|
6.59%
|
6.59%
|
7.39%
|
6.94%
|
7.70%
| |
ING Direct
|
6.39%
|
6.39%
|
6.39%
|
6.89%
|
6.99%
|
7.34%
|
6.96%
|
Macquarie
|
6.50%
|
6.55%
|
6.69%
|
6.99%
|
6.99%
|
7.80%
|
6.99%
|
NAB
|
6.94%
|
7.09%
|
7.09%
|
7.49%
|
7.54%
|
7.67%
| |
St George Bank
|
6.79%
|
6.59%
|
6.59%
|
6.99%
|
7.04%
|
7.80%
|
7.08%
|
Suncorp
|
6.59%
|
6.40%
|
6.45%
|
7.15%
|
7.83%
|
7.25%
| |
Westpac Bank
|
6.99%
|
6.99%
|
6.79%
|
7.54%
|
7.64%
|
7.86%
|
7.16%
|
Professional Package Discount are based on the Standard Rate. For Lender Specific Comparison Rates please contact Equitimax.
Q. What do I need to do?
A. SIMPLE – Get Equitimax to help.1. Just ask us to review your loan.
With some Banks we can find out your interest rate & loan balance, however not all banks pass on this information to us.
2. Send Equitimax an email CLICK HERE TO EMAIL US
(a) The Loan Balance $
(b) Your Current Interest Rate %
(c) Your Lender
(d) Any other details you think are relevant
