In the wake of the Banking Royal Commission, the process of securing home finance seems extremely opaque. Consider Savvy to be your guiding light in a murky landscape.
Whether it’s fluctuating interest rates, first home owner grants or first home super saver schemes, navigating home loan complexities can make many feel information-overwhelmed, especially in light of the recent Banking Royal Commission. The process has in fact been so significant to our economic health as a nation, that Treasurer Josh Frydenberg just announced that a further $60 million dollars would be injected into the banking watchdog. This week alone saw NAB join their competitors to increase their variable rate to 3.87%, from 3.69% for new customers starting from today.
What the recent home loan interest rate increase means for you
If you are facing rising interest rates, or you are considering applying for a home loan, it is imperative to take into consideration the opportunities and barriers surrounding the rise. Current mortgages could be possibly renegotiated, with some Australians finding a better loan offer and asking their current lender to match the offer. A rate increase ultimately provides a nudge to revisit all or part of their home loan, and makes way for discussions around the options to customise their home loans.
Steps to take when applying for a home loan
Many initially waste hours navigating convoluted comparison sites, before finally having a conversation with a mortgage broker or trying to understand complex government assistance programs. The step in all of this, that causes the most anxiety around bank rejections, is ensuring that your tax returns, proof of income, credit history and other documents required, are presented in a way that best positions you for the most advantageous home loan offer. Rarely would the average Australian feel confident in their financial and government know-how to truly go it alone with a bank.
Savvy acts as your partner, advocating for your right to a home loan
A time-consuming and frustrating experience can be avoidable when partnering with a disruptive digital partner, such as Savvy, a platform that has been trusted by Australians nationwide due to their ability to understand your personal situation, and then ensure that they secure the best deal to suit you comfortably. Savvy prides itself on its ability to respond to enquiries within 24 hours and its market expertise, and takes on the burden of time wastage when it comes to the endless forms and document requirements. Their consistent record over the past eight years at securing the most advantageous home loan rates has seen an increase in client testimonials built on a foundation of trust.
Considering analysts are saying that the Sydney housing market is at its lowest since 2012, and combined capital cities are down by 1.6%, it is not worth the risk of locking in an unsustainable loan rate, nor is it worth risking rejection due to the wrong approach. Savvy provides a free service with no obligation to apply, allowing Australians to finally have a trusted partner that has both the knowledge and network to ensure your home loan is the perfect fit for your life.