With recent reports that the Reserve Bank of Australia could raise interest rates by at least 0.5% by June, now is a good time to review your position to make sure you have the best loan option for you.
Key things to check as part of your health check might be:
- Current Interest Rates – Do I currently have a fixed or variable rate, and should I consider changing to a fixed rate loan?
- Loan Repayments – How will a possible rate increase effect my home loan repayments?
- Fees and Charges – Should I consider switching to a different lender with lower fees and charges to counteract the rise?
- Accessing Additional Funds – How will I now be placed to access additional funds for a renovation or additional property purchase?
- Home Loan Products – Should I take the opportunity to switch to a different home loan product that has better features and benefits that work for me?
Contact us to book in your no obligation financial health check today.