Big Bank Switch – Interest Rate vs Product

Big Bank Switch – Interest Rate vs Product – Don’t get suckered into changing Banks just because of a cheaper interest rate.

Big Bank Switch – Interest Rate vs Product

Would you prefer to have a Home Loan @ 6.99% that took 30 years to repay and had your money working in the Banks favour?

OR

Would you prefer to have a Home Loan @ 7.19% that took 25 years to repay and had your money working in YOU’RE favour – not the Banks?

Option 2 would save you 5 years in the loan term but more importantly over $100,000 in Bank Interest over the life of the loan.

This is based on a $300,000 loan @ 7% interest over 30 years. And if the rates went higher you would save more Bank interest.

Big Bank Switch – Interest Rate vs Product

Can you imagine what you would do with an extra $100,000 in your Superannuation account at retirement… I know I would rather have that money in my back pocket intead of the Banks.

Big Bank Switch – Interest Rate vs Product

So before you decide to refinance your Home Loan make sure that you simply don’t chace the lender who has the cheapest interest rate. I can guarantee in a years time, another lender will have a cheaper interest rate than the one you switched to…

Interest Rates are inportant when making your decision but you need to weigh up the features and benefits of the product being offered along with the service you can expect.

Regards

P.S. Thank you for reading my Big Bank Switch – Interest Rate vs Product page and I look forward to hearing from you soon.

Hello, Nathan here and welcome to Home Loan Perth.

As a Mortgage Broker since October 2005 based in Perth Western Australia there has been consistently two flaws in the Mortgage Industry for home owners and in particular for First Home Buyers looking to buy their first home:

1. Lack of Education in regards to Mortgage Products
2. Lack of Service after your Home Loan settles

My business, Simplify Your Mortgage Pty Ltd specialises in correcting the two points above.

Home Loan Perth – Objectives

My goal is to find you a homeloan product that is not just suitable for today but also into your future. I can’t stand Mortgage Brokers who set up an appointment every year with their client for a “Home Loan Health Check” just to see if there is a better product on the market, when they should have put you with the most suitable loan product to start with.

Your home loan product should have features that you may not need today but be available just in case for the future. All the Banks have similar products but each have small differences, so where do you start?

Some Mortgage Brokers in Perth WA, once they get paid, you never hear or see them again. They have set you up with a Bank Home Loan product then left you to figure it out by yourself.

25% of the home loan process, for me, is done after settlement. I need to make sure that your loan is set up correctly so that you can have your money working in your favour – not the banks!

To have this after settlement support will be the difference between paying off your loan in 5 years sooner and the ability to save $50,000 in Home Loan Interest – guaranteed!

Home Loan Perth – Interest Rates

Your home loan interest rate is important but if your home loan product has restricted flexibility then the cheaper interest rates become irrelevant. Using a Home Loan Calculator to work out your Home Loan Repayment, may show thousands saved with a lower interest rate but…

Would you prefer to have a loan product with an interest rate of 8.25% and the loan paid out in full in 30 years or an interest rate of 8.50% and have the ability to pay out the loan in full within 25 years, saving you 5 years and $100,000 in Home Loan Interest?

Surprisingly, you can compare home loan products to buying a pair of jeans… Price vs Quality. The cheaper the interest rate (price)  in general means, less features (lower quality).

Home Loan Perth – Summary

Within my business I only use quality mortgage products. Combined with having flexible products I have designed a homeloan system that is easy to understand and simple to follow.

Once your home loan structure is in place the system becomes automated with little for you to do besides watch your loan reduce faster than you have ever seen before.

If you live in Perth WA and are interested in learning about what I can do for you send me a quick email or give me a quick call.

Regards

P.S. Thank you for reading my Home Loan Perth welcome page, I look forward to hearing from you soon.