Looking for ‘Interest Rate Rise’ Relief?
If you have a mortgage, the the flexibility of being able to make MEET THE MPRE HARCOURTS TEAM
Reserve Bank’s recent decision
to increase interest rates by 1/4%
is not the news you wanted to
hear. But for borrowers struggling
for ways to meet increased
repayments there is some light at
the end of the tunnel.
By making a few smart changes to
your financial structure you can be
better equipped to deal with rate rises
& lessen the impact on your family.
Firstly look at consolidating high
interest consumer debt into lower
interest loans. If you have several high
interest personal loans for items such
as cars, furniture or holidays you may
want to consider rolling them into a
lower interest loan – such as your
home loan. This reduces the hassle of
managing a number of loans and of
course the interest payable. There is
potential to save thousands of dollars
in interest simply by paying what you
pay on all your current debts – on the
consolidated loan.
You might also consider fixing the
interest rate on all or part of your
home loan. If you are looking for
certainty in your monthly repayments
consider fixing the interest rate on
your loan to hedge against future rate
rises. Split loans are another option
and allow you to secure part of your
loan at a fixed rate while also enjoying
extra repayments on the variable rate
portion of your loan.
It is also worthwhile reviewing the
features and benefits of your current
home loan arrangement. Investigate
your current home loan. Review your
interest rate, ongoing fees and your
requirements of the loan. It is possible
you might find a better deal for your
circumstances.
Now is also the time to review your
spending habits. A reduction in
your credit options can remove the
temptation to spend money you don’t
have. Reducing the number of credit
cards in your wallet also lessens the
stress of paying them off each month.
There are other simple strategies
that can be very effective in saving
money. Preparing a budget to help
manage your household income is
unappealing to most, however with
all the pressure on our finances these
days – a workable budget is essential
in bringing comfort and clarity to your
financial position
So if you’re in need of rate
rise relief for your home loan,
contact Rob Petrie at Resi
Frankston on 9783 3488. Rob can
help with all the information and
guidance you need to help budget
more effectively – and take the
heat out of your hip pocket.
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Call Resi Frankston-Cranbourne today on 9783 3488
and get relief from rising rates.
Shop 1,
454-472 Nepean Hwy
Frankston
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www.resi.com.au
*Conditions apply. 7.35% rate is variable and correct at 10 August 2007. May change without notice.
After 15 months, reverts to Complete Home Loan Variable Rate, currently 7.69% (Comparison Rate
7.74†). Loan must settle by 30 November 2007. †The Comparison Rate is based on a loan of
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$150,000 for 25 years. Fees and charges may be payable. A Comparison Rate schedule is available
at every Resi office. WARNING: This comparison rate is true only for the examples given and may not
Frankston Heatherhill Rd Beach St
include all fees and charges. Different terms, fees or other loan amounts might result in a different
comparison rate. New loans only. Not available in conjunction with any other offer or program.
9781 5211 9770 5400 9789 2211
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