August Newsletter - Interest Rate Update, New Rate and New Team member
Good Afternoon
I hope you've had a great week and looking forward to the weekend ahead. It's been an up and down time in the market both in property and iwith the banks as we continue to adapt with the current environment.
The RBA met this week and decided, as expected, to leave interest rates on hold. We are at record low rates and we can expect this to stay for some time with the uncertainty in the market and the impact due to Covid in the medium term. However Shane Oliver Chief Econimist at AMP expects that any future rate cut decisions by the RBA wont have much effect on bank interest rates.
“The RBA could drop the cash rate to 0.1 per cent but they don’t want to go to negative rates. Even if they did, it would only have a small impact on mortgage rates.” The likelihood the RBA will leave the cash rate at 0.25 per cent for some time is good news for mortgage holders, especially those facing financial challenges.
This leads to our next point in relation to offers from our panel of lenders!
Current Interest Rate Offers
As mentioned in our previous emails its an interesting time for the major banks and lenders. Interest rates are at record lows, and the lenders are finding themselves in a highly competitive market to encourage new clients to come aboard.
We have been offered, with one of our major lenders, a great product for those who may be looking to sharpen up their current loan and interest rate and look at some refinance options.
We have a package options available with rates as follows:
Basic Home Loan Package with a rate of 2.49%p.a for Owner Occupied and 2.85%p.a for Investment Loans.*
Standard Offset Variable Rate Mortgage at 2.59%p.a for Owner Occupied or 3.09%p.a for Investment Loans.*
2 year fixed rates at 2.19%p.a for Owner Occupied or 2.59%p.a for Investment Loans.*
*At time of writing condiions apply.
An example of one of the rates we are able to offer to clients at present through our panel of 60 lenders. However as we always stress, the structure of your loan and aligning them with your short and long term plans are just as important as we work together as your Debt Advisors.
Introducing Hannah Bryant to the Team - Property Strategist
We are pleased to announce that Hannah has joined The Loan Group Team!
Hannah works with the team to liase with our Property and Real Estate networks and to assist clients in sourcing properties that fit within their portfolio. Hannah's approach and her understandstanding of the market helps to identify investment opportunities that align with their goals in a structured long term plan.
Hannah began her career in a property research house, which conducted all the required due diligence for a sound investment property purchase. This created a thirst for her to assist as many people as possible, to leverage the power of property for wealth creation.
As a mother of three children, Hannah understands how critical it is to build wealth for the next generation so their financial future is secure and certain. Combine this passion, with her love for the gym, personal development, spending time with her family and friends and you have her almost summed up!
We look forward to speaking with you soon. As always please contact us should you have any questions or we can assist in any way.
Otherwise, take care and have a great week and month ahead!
The Loan Group Team