- Real Estate
It pays to regularly review your mortgage
Recent RBA recent have seen Australian interest rates fall to their lowest levels since 1959. Typically, Australian expatriates once overseas rarely review their mortgage arrangements; usually on the presumption that is just too much of a hassle, or that somehow the changes will be reflected in their mortgage payments. The latter is sometimes true, but often not, depending on the mortgage product you have in place.
What is clearly true is that the Banks rely on, and profit from, "customer inertia". In fact, arranging to refinance your mortgage is not a difficult or costly - mortgage broker fees in Australia are paid by the banks. Consider the mortgage product below, available as at September 2013, and compare it to your own arrangements, just to ensure that you remain competitive.
· Interest Rate – 5.00%
· Ongoing Fee - $395 per annum
· Loan Establishment Fee - $100
· Interest Only Repayments available
· Additional Repayments can be made at any time with no penalty
· Redraw Facility Available
· 100% Offset Account Available
It costs absolutely nothing apart from some time to have a qualified mortgage broker review your existing mortgage to ensure it is competitiveness - the cost savings could be quite considerable. See Exfin for more details or complete our Australian Mortgage Inquiry Form to have a qualified broker, experienced in dealing with expat and migrant mortgages contact you promptly.