There is intense competition between the banks at the moment – and they are competing for your business.
Recently, three of the major banks offered $1,000 cash-back to clients who switch to them.
But the good news for borrowers does not stop there. The Reserve Bank has hinted that the next move for rates is down and the banks are also offering massively discounted rates; which means that once you finance, you will also enjoy better repayments.
Recent research by Digital Finance Analysis showed that, on average, the banks are discounting one per cent from their standard variable rate – with some lenders going as low as 1.3 per cent below.
In a world of ultra-low rates and with heavy discounting, borrowers are quids ahead if they change lenders.
Good brokers know which banks are keen for business and are dropping rates. Chan & Naylor has access to a panel of over 30 lenders which means that we can find the right loan for you.
To find out which banks have the best rate and loan features for your needs, please contact Graeme Salt by:
- Calling 1300 30 67 67
- Or, submitting an online enquiry