Who doesn’t want to save money where they can?
By taking advantage of a competitive lending landscape, you could pocket an extra $600 a month in savings on your mortgage. That’s around a Lamborghini Gallardo ($216,000) in savings over a 30-year term.
Not bad for some savvy shopping.
Competition in lending
Increased competition between lenders has been driven by a decline in property prices, in turn leading to a decrease in borrowing demand. Fewer customers, coupled with lucrative profit opportunities for smaller lenders, has stimulated competition.
Customers are the ultimate winners of this competition as it means better deals and more choice. Cash incentives, reduced rates and rewards points are some of the many hooks which lenders are using to attract new clients.
Many opportunities exist from lenders who are utilising lower rates to gain market share. For example, ING offers a rate from 3.73% p.a. for a $700,000 loan with an LVR of 80% or less. Compare this to the big four’s average standard variable rates of 5.23% p.a. That’s where your extra savings come from.
How can we help you save?
The lending advisors at Partners Wealth Group can review your current home loan and help identify opportunities to help you save on your mortgage, then help you obtain the finance you need. Take advantage of the competitive lending landscape today and contact Partners Wealth Group today on 1800 333 143.
So, knowing this, the only tough decision left is what colour your Lamborghini will be.