Interest rates.

Most people when buying investment properties look at rental returns vs cost to buy mainly, do people consider changing home loans that they have had for a number of years to save money on interest rates.

Like is it really worth swopping a bank you have had for 6 years interest rates @ 5.05 to find a cheaper one @ 4.75 after all the fees you have to pay or just not worth the hassle.

Or maybe you could just ask you bank for a better rate?

I know one I looked at in the fine print to get the lower rate you needed 20% deposit.

Thanks Matt..
 
Hi Matt

It depends on the customer. If they just have the one mortgage then rate will be high on the list of priorities.

If they have multiple properties - rate usually takes a back seat to more important factors such as an ability to access equity, ability to order upfront vals, link up and offset, etc.

Having said that - if you think you're paying too much now - do what Pete said and tell your current lender that you're going to refinance and they may lower their rate.

Cheers

Jamie
 
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