The OCR is down to 2.5%! So what??

The Official Cash Rate was lowered by the Reserve Bank, but what does that mean for you? Cheaper mortgages? In general, yes.

Perhaps you have your current mortgage at 6.5% and see 4.35% advertised. Should you re-fix your existing loan or take out new one? And should that be for one, two or three years?

A very important thing NOT to do is contact your lender! There are a lot of things to take into account first, and I can walk you through them (remember my consultations are free, so you are risking nothing by asking). Existing fixed loans will have a ‘break-fee’ which could be many thousands, new loans may carry fees or legal costs, your circumstances may have changed and your current lender may have special clauses that are not readily apparent.

We know which lenders will do what, how negotiable they are and more importantly, how you may be able to take advantage of these new lower rates.

Call me now.