Two letters, but a world of difference

These days, during the COVID economy, the majority of my home loan enquiries are coming from two types of Australians, depending on how COVID has affected them.

In camp one are those whose circumstances haven’t changed or have improved during COVID.  They are ready to capitalise on record low rate and government grants.

In camp two, there’s those with a home loan whose income levels have changed for the worst. Their business has slowed, or their employment has been cut back or they’ve lost their job. Adjusting their home loans and other major debts to accommodate their new scenario is a common request these days.

Both camps are in a position to leverage the competition between lenders right now, and as a broker I’m placed well to handle that comparison and negotiation for them.

Some people, surprisingly, still head straight to their existing bank to secure that new loan or refinance a current one. This baffles me. It’s 2020 and believe me when I say, loyalty doesn’t pay these days.

Yes, it’s possible that the lowest refinance rate, or the most suitable new loan we secure for a client could be with their current bank. But we’re more likely to achieve the right product match by exploring the universe of loans and thoroughly exploring our client’s best interests.

If you are talking about the need to refinance now, or alternatively you are thinking about growing your property portfolio, come and talk to me.

Call 1300 765 411.