How to negotiate a good deal – the expert secrets

Font size :
The power that borrowers once had to play lender against each other may have been diminished by the recent credit crisis but it has not been lost forever. In fact, there is no better time than now to negotiate on your mortgage.
 
The first six months of the year saw the spread of interest rates widen across bank and non-bank products, as lenders began to raise their rates independent of the Reserve Bank of Australia.
 
However, as inflationary pressures stabilise and the interest rate environment begins to settle, competitive lending is beginning to show signs of life.
 
“Competition within the mortgage market appears to have resumed,” explains Michael Lee, consumer services, Mates Rates Mortgages. “The good news for borrowers is the high cost of wholesale money, which triggered rate rises independent of the Reserve Bank, has started to ease. This means cost driven pressure for lenders to move independent of the RBA should also reduce.”
 
To read more about negotiating on your mortgage deal, check this month’s issue of Your Mortgage on sale throughout the month of August.

With interest rates at their lowest for more than 50 years, there are some great rates available. The best thing to do is to compare rates from all the lenders. Let us help take the leg work out of doing this - Compare Home Loans now

Mortgage News and Articles

How to tell when a housing market is cooling How to tell when a housing market is cooling

You need to check clearance rates, listings, and the price gap, among other factors Read more

Growing demand for green apartments in Sydney Growing demand for green apartments in Sydney Both owner-occupiers and investors favour eco-friendly buildings for their energy-saving features and reduced environmental footprint ... Read more

Are property investors as rich as they appear? Are property investors as rich as they appear? A multi-property portfolio doesn’t guarantee easy millions ... Read more

Be proactive about getting a better mortgage deal Be proactive about getting a better mortgage deal Apathy could be costing you a considerable amount of money over the lifespan of your loan ... Read more

More mortgage news and articles

Sponsored Links

Wednesday, Sep 20, 2017
Top Featured Rates
Top Bank Rates

Get help choosing the right home loan

Let us help you find the right home loan for your needs.

Tell us a bit about your circumstances:
  • Purpose of mortgage
  • Household Income
    $
  • How much do you want to borrow?
    $
  • How much deposit do you have?
    $
  • How much is your house worth?
    $
  • How much do you still owe on your mortgage?
    $
  • What type of mortgage do you have?


  • How much is your new home?
    $
  • How much do you want to borrow?
    $
  • How soon do you want a mortgage?
Next
  • First name
  • Last name
  • Where do you live?
  • Phone number

Special Offers

Related Keywords