Why is it important to check the interest rate you are paying?
If you are living off your cash investments, then the interest rate you receive is so important and you would always be on the lookout for better rates!
If you are buying a TV you don’t take the first one that takes your eye, you shop around for a better deal and that’s on a $500 TV!
Yet how many investors in the property market check the interest rate they are paying their current lender and you may have lending around $500,000 with rates in the high 4% range?
When has a lender ever called you personally and offered to drop your rate!
Example of possible savings
A saving of 0.75% on a $500,000 loan could save you $3,750 in interest payments each year.
We currently have a few of our lenders offering investment variable rates under 4%.
Unless you ask you could be paying too much interest to the bank.
The team at LoanMarket can do a review for you and come up with some solutions, a second opinion could save you thousands in interest payments, and much better it will be in your pocket rather than the lenders.
Depending on your location we have lenders offering some very low rates and good terms.
There is now no better time to get a health check on your investment lending portfolio, or more importantly to shop around for a better deal.
LoanMarket works with over 30 lenders you know and trust, and takes the leg work out of finding the finance deal that’s right for you.
By: Steve Pram
M: 0439 735 404 | P: 07 4613 0311