With the RBA increasing interest rates by 1.75% since May and lenders not hesitating to pass this on,
there are many mortgage holders who are feeling the pain of increased loan repayments.

While further increases are expected, did you know that you could potentially achieve a lower
variable rate just by calling your lender and asking for it.

Lenders become more generous

Over the past few months, we have seen a number of lenders become more generous in discounting
Secure a Lower Interest Rate rates for existing customer as they don’t want to risk them refinancing to another lender.
Depending on the lender that you are with, they may offer you the same rate as they will for a new
customer which will often be a much cheaper rate than you are on currently. Unfortunately, not all
lenders are the same and while they may not offer you the same rate as a new customer, any
additional discount that you receive will mean that you are paying less interest so it is definitely
worth taking the time to ask for it.

Once you know the best Secure a Lower Interest Rate rate that your lender is willing to offer to retain you as a customer, you then have the ability to compare this to what other lenders would be willing to offer to win your
business. Refinancing may allow you to not only obtain cheaper interest rates but also take
advantage of the refinance cash backs on offer.

Approved Lending is a Sutherland Shire business located in Kirrawee, Brock and Rob offer a no obligation discussion to see if they can put you in a better position with your home loan.