With interest rates on the rise, you could be forgiven for fretting over your home loan; be it as a first homebuyer looking to enter the market, or a homeowner trying to pay down debt.
Lucky for you, Walshs is here to take the sleepless nights out of home ownership. We’ve got access to dozens of different lenders and speciality bank arrangements for medical professionals.
So whether you’re concerned about coming off a fixed rate, worried about your wildly unpredictable variable loan or panicking about your first home purchase, we can help.
POWER TO THE PEOPLE
As a speciality mortgage broker servicing the medical profession, Walshs is on a first-name basis with all the major banks and can negotiate the best deals on your behalf.
The lending team compares rates across the market and if a lower rate is found elsewhere for those with an existing home loan, they’ll go back to the current lender in a bid to match it.
“It’s all about customer choice and we as brokers do all the leg work – you don’t have to go to the bank and negotiate yourself because that’s what we’re here for,” Karen Holmes, mortgage broker with Walshs says.
With banks favouring first-time customers, Karen says switching lenders could be an option if your bank won’t come to the party with a better offer.
“It’s always cheaper when you first take out a home loan because banks want your business, so they’ll offer you a cheaper rate.
“Nine out of ten times the client will get a better rate from their existing lender, but sometimes it pays to refinance. “And all the banks now are offering a cash-back to refinance, so it generally covers any discharge fees.”
TIPS TO BEAT THE HIKE
With rates tipped to increase over the next six to 12 months, Karen has the following advice:
- When coming off a fixed rate, contact Walshs 30 days before it’s due to expire as the loan can be refinanced within that period.
- Seek pre-approval if you’re a new homebuyer. That way, you know where you stand in the current rate environment.
- Structure your debt so that it’s two loans split into half variable, half fixed. When fixed rates improve (as they’re tipped to do over the next 18 months) you’re ready to lock in a great rate.
Still stressed about rates? Give us a call on (07) 3221 5677 or book a 1-1 meeting.