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Vince

2 weeks ago

there are loan options for fixing the rate so you do not have to be concerned for a period of time selected , about rate changes, and to a certain extent the loan application process has built in buffers so a lender can assess your ability to repay in conditions where rates are higher. In reality rate increases are a fact of life with variable loans and you should be concerned and prepared to pay repayments that could increase.

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Rilght

2 weeks ago

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Peter

2 weeks ago

Hi, it would be irrisponsible to say no to this question, as no one knows what interest rates are going to do in the future. When a lender assess an application for a mortgage they use an assessment rate which allows for interest rate rises, so they can see how much you could afford of interest rates rise in the future, so lenders are always on top of this. From a personal stand point if you have concerns about interes rate increases most lenders offer a fixed rate term which means regardeless of what the rates do during the fixed rate period, it would not effect your rate. Fixed rates are normally available for 1 - 5 years. But you need to make sure that you fully understand the implication of a fixed rates beore you decide to apply for one. If you would like to discuss further, please send me a message through my profile here on HashChing

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Ryan

2 weeks ago

Anticipating an interest rate change is quite hard and then when they do change you do not know how much the lenders will pass onto you as the customer. If you are worried about interest rate changes then maybe a fixed rate would give you the stability you are looking for. Happy to discuss further if you want to click onto my profile Thanks Ryan

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