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Banks love customers that procrastinate!

That’s right, banking on procrastination is good business, at least for the banks!

Here’s some thoughts courtesy of our good friend and mortgage broking guru Wayne Dive, from Smartline Personal Mortgage Advisers.

The RBA Governor confirmed last week that our banks are now able to raise funds at far “more favourable” rates. These savings should see our banks passing on interest rate cuts in the near future.

If you are waiting for the right time to act, it might just pass you by. Give Evalesco a call now

Interestingly, Michael Pascoe (Fairfax Journalist) has a suspicion that our banks will only shave their lending rates on an individual (let-me-do-a-deal-for-you) basis rather than lowering rates for all of their existing customers.

Michael even went on to say that most bank customers are either unwilling or unable to shop around, so the banks are unlikely to cut rates for all of their customers because this  would be “unnecessarily generous”.

Whilst it can be a painful process to re-finance a loan by yourself, using a mortgage broker means that most of that pain is absorbed by the broker. If you have any questions or would like to chat with Wayne about your own home finance position please let us know and we’ll pass your enquiry on. Alternatively you can email him care of wdive@smartline.com.au.

It’s my job to work as my client’s financial ‘lifesaver’ to ensure that they swim between the flags and that they don’t get in over their heads.