Mortgage Broker – Established Residential Investment & Home Loan Specialist

Beat the Banks - Perth Hills Home Loans - Refinance to a Lower Interest Rate

Beat the Banks

Hello, my name is Nathan and welcome to my Beat the Banks web page. I specialise in assisting clients to refinance to a Lower Home Loan Interest Rate and at a guess I can help you.

The Big 4 Banks are ANZ, The Commonwealth Bank (CBA), NAB & Westpac Banking Corporation (WBC), who control over 80% of all Home Loans in Australia. Effectively the Big 4 Banks have an oligopoly. The definition of an oligopoly is:

  • a state of limited competition, in which a market is shared by a small number of producers or sellers.

What many consumers don’t understand is that smaller lenders in Australia have better Interest Rates than the Big 4 Banks, so it is easy to Beat the Banks Interest Rates, so why aren’t more consumers using smaller lenders?

Fear of the unknown, fear of collapse, fear that they are unsafe, fear that rates will rise faster than these big institutions. All of these fears are unfounded, especially when you understand this:

  • You owe money to the Lender therefore the only fear is the risk the lender is taking on your agreement to repay the loan

If you repeatedly default on your home loan, every lender, every Bank will turn your 30 year home loan into a 90 day home loan and sell your property to get their money back. Just because one Bank is bigger than another doesn’t mean they will be more lenient because they are all governed by ASIC (Australian¬†Security and Investments Commission) and all have to work within the NCCP (National Consumer Credit Protection act). So a smaller lender has to comply with the same rules and regulations a larger Bank has to comply with.

Strangely though, the main reason for not wanting to change lenders is simply, the fear of change…

Beat the Banks – Criteria

I am offering to Beat the Banks Variable Home Loan Interest Rate for those people seeking to Refinance.

So if you have an existing Home Loan with ANZ, The Commonwealth Bank, NAB or Westpac, simply provide me with your Home Loan Statement and I will confirm if I can Beat the Banks Interest Rate or not.

If I can Beat the Banks Interest Rate I will then calculate the estimated refinancing costs and detail the potential benefit that you can expect if you refinance. This will include the estimated time it takes for you to recoup the costs in refinancing. Not until you have been detailed with this information do you then decide if you want to, make a choice to proceed with the loan application or not. During this whole period, my services cost you $0 to find out if I can Beat your Bank’s Interest Rate.

To find out if I can Beat the Banks Variable Home Loan Interest Rate will take no more than 1 minute over the phone. Or you can email me your scenario, which I can reply with your answer. Simply go to my Contact Us page that details my direct email address and mobile phone number.

My business specialises in assisting everyday Australians, which means Home Loans that are greater than $250,000 and less than $1,000,000 although I can still assess larger loans on a case by case basis.

If your Home Loan is in between $250,000 & $1,000,000 with 20% equity retained in the property then at a guess I should be able to Beat your current Banks Variable Home Loan Interest Rate.

Beat the Banks – Equity Required

To Beat the Banks Variable Home Loan Interest Rate you need to understand the amount of equity that is required by the new lender, which is a minimum of 12%. For example:

  • Home is worth $550,000 less 12% = $484,000 Maximum Loan Amount excluding Lender’s Mortgage Insurance (LMI)

Sometimes when you Beat the Banks variable home loan interest rate it may not be worthwhile proceeding with the refinance. If you don’t have 20% equity within your property, then you have to pay a Lender’s Risk Fee or Lender’s Mortgage Insurance (LMI), which can add up to being thousands of dollars, which may defeat the purpose of refinancing.

Again, before you chose to proceed you will be detailed to overall costs and benefits so you can make an informed decision.

Beat the Banks – Preferred Suburbs

I only deal with clients based in Western Australia and since moving to the Perth Hills in July 2014 I prefer to assist clients that are within a 20km radius of my home office in Parkerville that includes:

  • Gidgegannup WA 6083
    • 11.4 kms from my home office
  • Mount Helena WA 6082
    • 12.7 kms from my home office
  • Stoneville WA 6081
    • 8.2 kms from my home office
  • Parkerville WA 6081
    • 0 kms from my home office
  • Sawyers Valley WA 6074
    • 14.3 kms from my home office
  • Mundaring WA 6073
    • 10.9 kms from my home office
  • Hovea WA 6071
    • 8.7 kms from my home office
  • Glen Forrest WA 6071
    • 12.6 kms from my home office
  • Darlington WA 6070
    • 15.4 kms from my home office
  • Mahogany Creek WA 6072
    • 9.7 kms from my home office

Don’t get me wrong, I have many, many clients ‘down the hill’ living in suburbs closer to Perth than to my home office but as you can imagine if I can save time, fuel and money it makes sense that I try and assist client who live in my local area.

Beat the Banks – ANZ, CBA, NAB, WBC

If you have a variable home loan with ANZ, CBA, NAB or WBC and your loan amount is 20% less than your home value, please get in touch, email me through your current home loan statement that proves your current interest rate and at a guess, I can beat it.

By beating the Banks Interest Rates can potentially save you thousands and thousands of Bank Interest (Profits) over the term of your home loan, for example:

The Big 4 Banks are lazy in their approach to customer service, where they essentially treat you like a number instead of a human being. They are biased when it comes to the products they recommend because they are working on behalf of the shareholders and staff are working to obtain bonuses from in-house incentives. And their Interest Rates are, in general, higher because the are treating you with contempt. They believe that you will stick with them because they are ‘safe’, too big to fail, pillars of the Australian economy and because of these false beliefs they can get away with charging you more for your Home Loan, playing on your false insecurities.

If you have ever changed your Health Insurer, ever changed your Building Insurance company, ever changed your mobile phone provider to a better deal, then maybe it is also time to change your Home Loan to Beat the Banks Interest Rates.

If you are interested in changing lenders, seeing a better interest rate, better product or just a better service, then feel free to get in touch by clicking onto my Contact Us page, where you have my direct mobile number and email address.

I look forward to hearing from you soon.

Best wishes for now.

 

Nathan Daniell

Managing Director – Mortgage Broker

Established Residential Investment & Home Loan Specialist

Simplify Your Mortgage Pty Ltd
Australian Credit License Number: 387974

 

P.S. Thank you for visiting my Beat the Banks website, I hope the information assists you to make an informed decision with your finance requirements.

 

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