Another month has gone by with rates on hold, although most economists are predicting a drop by Christmas. The downward movement in fixed rates would certainly support this along with the competitive discounting being offered on variable loans by the major banks and other lending institutions. The current standard variable rate across the majors is around 7.8% however depending on loan size you could be paying around 6.8% with some of the deals around at the moment. If you are paying more than 6.8% I would suggest giving me a call for a quick mortgage check and discuss your options.

A quick success story for you: We have just assisted a client in restructuring their business setup and as a result they now control 2 residential properties and a commercial property with all debt being tax deductible. The business had been growing over the last few years and the restructure also assisted with creating some asset protection. Lending options were negotiated between a couple of lenders with the successful lender having products that suited cash flow within the business well. Approval was gained a month after the deal was submitted assisted by the fact valuations had either been completed prior application or very soon thereafter.

For all your lending needs or queries, contact Jason Fong of our office.