Hello All,
With current fixed rates lower than variables would it be wise to switch?
My current variable is 7.05% contemplating fixing for 2 years @ 6.39%.
Appreciate any thoughts.What if rates drop further?
What if you want to sell?
What if you want to access equity but your bank won't let you and you need to refinance?Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
http://www.Structuring.com.au
Email MeLawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au
I agree with Terry there are alot of what ifs
every time Ive fixed ive lost out, in the end the House always wins, variable all the way
Pre-GFC my wife and I fixed one of our loans in for 4 years with ING 8.99% (It matures in 6 months) not long after rates went way down, at the same time I had few variable properties with CBA that at their lowest went down to 4.94%, it made me sick to look at the other loan lol
I think you would do almost as well to ask for a discount on the Variable rate, call the bank and say you want to speak to the retention guys, explain your looking at going else where, its there job to try and keep customers from going else where, it worked for me with CBA, I did it a month ago, a guy at a school re-union who worked at CBA told me to do this
all the best
Thanks for that,I get the message and appreciate it.
Thought my broker would have given me the same advice!Best Regards
when would you want to apply for a fixed rate credit card over a variable rate credit card? The answer to this may not actually sound as simple
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