In a sign that perhaps interest rates may be on hold for a little while, some of the major banks are offering fixed rates for 3 years from 6.99%. It as only 3 months ago that the 3 year fixed rate was up around the 8% mark so 6.99% is a very sharp rate.
Temporary Residents and Australian Expats should consider carefully whether to fix in or not. If your budget is tight and perhaps another few rate rises would see you start to struggle with repayments, then fixing the rate in may be a good idea. If however you have plenty of surplus income and like paying more off your home loan, then variable is probably the better option.
The main advantage of fixed is the certainty of payment – the main disadvantage is as, many discover recently, you could end up stuck on a higher rate if the variable rate reduces.
Ashleigh StanleyWe’ve had the pleasure of working with Justin Thom to refinance our loans in order to purchase another block of land, and we couldn’t be more grateful for his support throughout the process.
From start to finish, Justin made everything feel straightforward and explained concepts to help us understand the process too. He went above and beyond to help us secure the best possible loan, taking the time to find the right bank and deal to suit our needs. Even when a few hurdles came up from our side, he was very flexible and found solutions for us! He is proactive in his approach, had very clear communication, and was always willing to make time for us.
Justin is very professional, yet we felt he genuinely cared for helping us. We felt completely supported every step of the way and would highly recommend him to anyone looking for a knowledgeable and dedicated broker! We will definitely be using him as our broker from now on.
Kyle MeehanWe had an exceptional experience with Justin. His patience throughout the process was remarkable, always taking the time to explain every detail and answer our numerous questions. He kept us informed at every step and ensured we understood all our options. His support throughout, and post completion, was invaluable, making us feel confident and secure in our decisions. We couldn’t have asked for a better partner in securing our mortgage. Highly recommend!
Ari & Nadene ThomasWe recently worked with Justin refinance our loan. This is the 2nd time working with him and both times have been a pleasure.
Justin has always gone above and beyond to assist us to ensure we get the best possible service. Not only does he show a professional attitude toward his role, but he also shows a genuine interest in our family to assist with our financial matters.
I would have no hesitation in recommending Justin to people important in my life.
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