There are a number of lenders currently attempting to capture the market for a longer fixed term. The 3 year fixed current home loan rates in Australia are the most competitive.
Find a good lender
Heritage Bank leads the way with current home loan rates in Australia at 5.79%for a three year fix. In the variable space it’s Heritage Bank again offering 5.99% however watch out for application fees of $500. Cashbacks are all but gone!
Find a good broker
If you find a good broker who will cover transfer fees then you could make a shift after 12 months if there are better offers. Overall there are still good current home loan rates on offer which will be worth contacting your broker about. It’s always a good idea to call your lender first though, to get a rate review and an instant reduction on your current home loan interest rates in Australia. If you find other lenders can still do better then talk to your broker today and get the refinancing ball rolling asap.
Find a good process
And remember to turn your loan over every 2-3 years. Having 2-3 lenders you like which you can rotate will over the life of the loan save you thousands. If you refinanced every two years and save $2000 per change then you’ve saved yourself $30,000 over the life of the loan.
Ask one of our team members about our $500 cash incentive when you settle a loan with Westlend.
The Westlend team are available to meet with you. Go to www.westlend.com.au and either fill in one of our contact forms or call directly on 02 47331152. See the RBZ rate page – https://www.rba.gov.au/statistics/interest-rates/