A well-known industry comparison website “Canstar” has suggested that borrowers should consider switching their arrangements to fixed rate options, as the market has in all probability, reached record lows. (This recommendation was issued in late July 2018).
This recommendation also co -incides with a time when several banks have started offering fixed rate mortgages which are cheaper than their standard variable rate loans. Both Macquarie and Aussie Home Loans have recently dropped their fixed mortgage rates by 10 basis points, while increasing their variable rates by 5-10 basis points.
Whilst this option has various pro and cons, and is definitely not for everybody, Venrock believes all borrowers should undertake a review to see if this option suits the borrowers circumstances.
If a fixed rate option is something that you would like to consider, talk to one of our brokers for a free review or a Mortgage Health Check.
At Venrock Finance we understand that at times people may not be satisfied with the service they receive. In this circumstance we would like to hear from you so we can rectify this. This complaint will be investigates in a thorough and timely manner. Please put all complaints in writing to our Managing Director at PO Box 148 Rockingham WA 6168 or email to email@example.com. If, despite our best efforts, you believe your complaint has not been satisfactorily dealt with, you can lodge a complaint with the Australian Financial Complaints Authority, or AFCA. AFCA provides fair and independent financial services complaint resolution that is free to consumers.
Website: www.afca.org.au | Email: firstname.lastname@example.org | Telephone: 1800 931 678 (free call) | In writing to: Australian Financial Complaints Authority, GPO Box 3, Melbourne VIC 3001
Venrock Finance Australian Credit Licence No. 387134 Version 1 June 2013