Ohh interest rates have been cut! But what does this mean for Illawarra home owners?
So, we asked the financial and mortgage broking experts at The Wealth Connection in Austinmer to let us know how we SHOULD (in theory) be benefitting from this! Let's face it, with the cost of living and having kids being sky high, we could all do with extra $$ right now...
Dylan Beer, local Dad of two and 'man in the know' from The Wealth Connection explained all - and it's good news - so read on!
"The Reserve Bank released some pressure on our family budgets last week by announcing an interest rate cut. Most banks have done the right thing (about time) and passed these cuts onto their customers."
According to the Treasurer, Josh Frydenberg, ‘”the impact of a 25 basis point cut on a $400,000 mortgage is the equivalent of saving around $60 a month or $720 a year.”
WAIT, HOWEVER! There is MORE good news...
Whilst this this is welcome, Dylan goes onto to explain “Any cut to our home loan rates is always nice but if you are paying too much to begin with, then you are still paying the banks more interest than you need to. Now is a great time to see what else is out there and make the switch.”
So don't delay! Get in touch with Dylan (firstname.lastname@example.org or 0431 583 784) and he
will be able to compare your rate with the market leading offers and see how much interest you can save. PLUS, mention the Parents Guide when you speak to him and The Wealth Connection will gift you $500 when your loan settles - whoop!
Just remember to mention Parents Guide to get your $500 when the new home loan settles (thank us later!). Our thanks to Dylan and The
Wealth Connection for extending this offer to our Parents Guide community by the way!
Dylan Beer - Finance Broker (BComm DipFin)
0431 583 784
Click for the website - The Wealth Connection