The New Year is always a good time to review things and implement those New Year resolutions, the ones like reviewing your mortgage and finances.
With banks like Westpac offering a limited time special 1-year rate of 3.99% it makes it an even better time to review your mortgage.
Check the Westpac home loans rates.
Westpac Offers 3.99% Special Home Loan Rate
Today Westpac have come out and offered a special rate of 3.99%
This is definitely a very competitive rate!
Of course most people do not want to lock in all of their mortgage to a 1-year rates, but Westpac home loan rates are all quite good and as mortgage brokers we can often squeeze a little more from some of the rates that may seem not quite as good. We can do this will almost all of the banks, but some are easier to get low home loan rates from.
The key is to always ensure that you get a competitive rate – you will never always have the lowest home loan rate – fact.
Westpac Review Should Consider Offset Loans
Often people will like to have a savings account with their bank which is separate to their mortgage.
This is all very well; however often the rate of return offered by the banks is low compared to even the lower home loan interest rates like what Westpac are currently offering.
Westpac are one of the few banks to offer an offset loan.
While these loans may sound quite complex, they are a great mechanism that is rarely used.
Even the staff at Westpac struggle to explain the benefits, but as mortgage advisers we can explain how the offset loans work and why you should consider them.
Consolidate Any Other Debt
Have you got any other debt?
There are a lot of people that have other debt – debt that is costing more than the mortgage.
It could be credit card debt, store cards or hire purchase or even personal loans.
Some of this debt is very expensive with interest rates of close to 30% which is crazy when there is the opportunity to have the same debt at mortgage interest rates.
We call this debt consolidation, however it is done at mortgage interest rates not some finance company rates that we often see advertised. With any of this type of lending you need to be careful and ensure that you are not putting yourself in a situation where you are paying too much in either fees or interest rates plus importantly not extending the loan term.
Talk To An Adviser Today
We can look forward to a great 2019 but it can be better if the mortgage is reviewed and sorted out early.
Of course you can make some changes directly with your bank, but why not engage an adviser to help you sort things out.
A mortgage adviser costs you nothing, and more importantly can save you thousands when they review your mortgage and advise on any small or bi
We work for you – not the banks.
We can review things to ensure that you are not contributing too much to the banks profits during 2019.
Contact us today – review your mortgage – you have nothing to loose but potential to benefit.
