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Ready to buy a car? We recommend that you read this article first for a number of important things you need to know about financing and securing a loan that suits you.
When you plan on taking out a home loan, your bank, mortgage manager, or broker will likely offer you different types of loans. But because of the seemingly endless choices, it's essential for you to understand and determine which type of home loan is right for you.
The Reserve Bank of Australia (RBA) has lifted official interest rate by 25 basis points to 4.75 per cent at its board meeting on November 2, 2010.
A leading mortgage broker has stated that borrowers have more than likely missed their opportunity to lock in low fixed home loan rates despite there being a forecast rise in lending costs.
Home owners believe that variable interest rates have bottomed out and are rushing to lock in their rates. The Australian has reported that 7.76 per cent of all loan approvals last month were for fixed rate loans, up by 6.6 per cent in May.
A senior executive from one of the big four lenders has come out and said that further variable mortgage rate increases were unlikely to take place in the current round of rate adjustments by the major banks.
One of the major choices to be made when choosing a home loan or a loan on a residential investment property is whether to take a variable interest rate or a fixed interest rate.
Update: November interest rates cuts.
When choosing your loan, there are a number of various features which you need to get your head around. Additionally, there are some fundamental aspects relating to the nature of the loan itself which you need to be aware of. This guide should give you a good basis for deciding which type of loan to choose.
The ING savings maximiser account is tailored to meet the needs of a specific brand of new age customer. Launched in 2000, the ING Savings maximiser account was the first online savings account amongst Australia's banks.
According to the most recent market surveys, new home buyers are still choosing standard variable rate loans over fixed rate loans in spite of recent reserve bank interest rate hikes. Due largely to the large discounts offered through professionally packaged loans, loans with some form of interest rate flexibility have proven most popular with investors over the past two years.
Not all providers in the market are included in the comparison.
Any information or advice contained on this website is general in nature and has been prepared without taking into account your objectives, financial situation or needs.