Reported interest rates are at all-time lows in Australia: What should borrowers consider?
Many do not know enough to make an informed decision – stay or leave. When do I have time to sort through the large information source? A Finance Broker is knowledgeable in these areas and can easily organize the required information a client requires in a few discussions.
The current Financial landscape have Lenders vying for customer loyalty as a new client only to their brand; offering remarkable offerings to entice new a customer base with a refinance or new purchase linked to a home or investment loan. The benefits include, but not limited to, new online services, banking facilities, low costs in conducting business, low interest rates on the new loan service (need to always look at their other fees/charges/effects/Comparison rates), card access and many others.
This is another benefit a Finance Broker provides in sourcing through the lenders products and offerings within open broker channel markets. Discussions with the many lender BDM’s, continual review of the offerings with links to special client demographics: Medico, Professionals, Accountants, Self-employed, high wealth individuals, certainly empowers clients with informed comparisons enabling their decisions on lenders, products and staying or leaving their current lender.
What about Lenders existing clients, with many Loyal supportive years?
Maybe the thinking is existing clients will stay loyal even with higher interest rates or monthly fees incurred by them because it is too complicated to change Lenders. These clients have usually been enticed in to the brand or maybe even a customer since leaving school.
It’s just a matter of a phone call…
A simple phone call to your Lender or Broker asking for a better rate or reduced fees reveals reciprocated Loyalty. This process should be done every few years to see if the Loan is the most appropriate for certain circumstances. Especially, before borrowers undertake a refinance process searching for a better loan with another lender. This information or need becomes transparent during an interview with a Finance Broker. This scenario is often an initial outcome as they feel unloved as a loyal client of the lender. This is certainly where again brokers have the professional approach to provide constructive processes to guide borrowers future decisions.
Reduced interest rate.
Last month a new client was looking for a better rate for his home loan. My first suggestion was to ring his current Lender and request a revision of their home loan rate and fees. They were not comfortable but helped through the phone calls. This is where a Finance Broker enabled an outcome of 1% reduction immediately on the existing home loan for a year. This was a great outcome for the family and their current requirements. We help conduct this phone call on your behalf to help you achieve the best result possible. We have now received referrals from family and friends to help them procure a lender and products for the needs. Another recent scenario enabled us to negotiate a pricing rate with their lender successfully.
Discussions help us understand your needs, recommend and support processes for a rate pricing. If unsuccessful, a refinance away form a lender who does not show the love the client deserves. Judge lending will guide you through the refinance stage to ensure you achieve your required outcomes. We assure your privacy and security as we undertake the investigation for your needs and objectives for now and into the foreseeable future.
Set an appointment today, and let us discuss how we can reduce your current interest rate.