

Hi Maree, I hope you're well? There are plenty of better options than the one you have described and all you need to do is let an experienced broker like myself and others on here, do all the proper calculations and relevant information gathering to provide some better options for your needs. I have access to many better options similar to the products you have described and I can also provide you with some other extensive options they may assist you a lot better than your current lender or the lenders you have already approached for information? I can be contacted by you clicking on my profile? Kindest Regards. Glenn Rowan

Hi there Maree, That is not a good rate and I could save you 1.15% on that but you need to be careful before choosing a fixed rate. Both in terms of the rate period and the impact if you wanted to break it because of early termination fees. Also if the is any LMI involved. Please call me so I can point out important factors and help you to know which lenders you qualify for and understand your fixed rate requirements. I have almost 13 years experience to pass on. Kind regards Greg


Hi Maree, That is not a good rate and you would be best to shop around if it is practical but you have not supplied sufficient information to know if something an be done. If you want help you need to make contact and move from there. My contact detail is on my profile if you wish to make contact. Blessings Graeme C

OK, yes that makes a big difference then Maree. You won't really be able to change lender if you only have 5% equity. You'll end up paying many thousands of dollars in Mortgage Insurance and even if the rate was to drop to 3.5% you probably wouldn't be in a better position overall. It maybe a good idea to try and negotiate a better rate from your bank. Who are you with? I'd be happy to see if I can get you a better deal if you'd like. Thanks again for your enquiry. Ian.


Hey there Maree. That rate is certainly very high, as mentioned by the other brokers here. If you're in Melbourne check out my reviews and make contact. Would love to show you why we're the #1 reviewed and rated broker in Vic. :) If not, you have quite a pool of great, keen brokers here who I'm sure will get the job done. Good luck Lee

Hi Maree, yes you should definitely look elsewhere. To be frank, that rate is terrible. You can get fixed rates from around 3.69%. How long do you want to fix for? There are a number of details we'll need in order to get you an accurate rate (what is your debt, what is your home valued at, is it owner occupied or investment etc). Definitely don't take the 4.94% I can get you a much better deal. Thanks, Ian.


Hi Maree Thank you for your question 4.94 for 3 years fix is not a good rate. 3 years fix rates start around the 3.79% I would recommend you fill in the contact form and a broker close to you will contact you Alternatively, you could contact myself via the broker finder (I'm in WA) but can help Australia wide. Guido

Michael
Hi Maree, yes you would look elsewhere. If an owner occupy loan can do rates at 3.59% 3 year fixed.