Interest rates are at a historical low. Banks are currently offering fixed rates below 5% for up to 5 years. Fixing or refinancing is easier than you think. What rate are you paying on your loan?
5 Year Fixed Rates Hit Record Lows
Rates current at:
Thursday, 31 July 2014
Reviewing Your Finance Could Save You $000's with some lenders
offering rebates to cover the cost to change lenders
Prepared by Stantins Finance Broking Pty Ltd Australian Credit Licence 390744
Product Feature
FastLend, Performance Plus LOW RATE OPTION
FastLend, 5 Year Fixed Combo Discount LOW RATE OPTION
Bank of Melbourne, Standard Variable Rate Advantage Package
Bank of Melbourne, 5 Year Fixed Advantage
Commonwealth Bank, Standard Variable Mortgage Advantage
Commonwealth Bank, 5 Year Fixed Mortgage Advantage
Comparison Rate (AAPR)
(current / new)
4.83%
4.79%
5.10%
5.09%
5.11%
5.10%
Initial Interest Rate
(current / new)
4.73%
4.69%
5.00%
4.99%
5.00%
4.99%
Initial Rate Period
5 years
5 years
5 years
Total establishment fees
$250
$250
$100
$100
$200
$200
Ongoing costs
$330.00
$330.00
$395.00
$395.00
$395.00
$395.00
Ongoing cost period
Annually
Annually
Annually
Annually
Annually
Annually
Discharge Fees
$295
$295
$250
$250
$350
$350
Early Repayment Fee
N/a
5 years, Break fees will apply if loan fully paid during the fixed period
N/a
5 years, Break Costs as calculated by Lender may be applicable
N/a
5 years, Break fees may apply if fully repaid during fixed period
If you are interested in fixing your loan or refinancing to a better deal, please contact our office. Our finance contacts will pay you to finance with them. You have nothing to lose except the high interest rate that you are paying now.
This document is for indicative purposes only. The information is provided to assist in understanding the costs associated with a property purchase or refinance. All costs, fees, charges and calculations are estimates only and may vary. Other charges not listed above may also be payable. The comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan.