![\"\"](\"https:\/\/fmsto.blob.core.windows.net\/cms\/images\/055\/0006_637913625626181949.jpg\")
<\/p>\n
Image by trigga via Canva<\/em><\/small><\/p>\n Promoted by loans.com.au<\/strong><\/p>\n The mortgage repayments of millions of property owners around the country have already begun rising after the most recent rate hikes by the Reserve Bank.<\/p>\n With the official cash rate currently at 0.85% (at the time of writing), banks haven\u2019t hesitated in passing on the increase to borrowers. While it marks the first time in 12 years that we\u2019ve had consecutive increases in the cash rate, mortgage interest rates are still relatively low.<\/p>\n Here\u2019s what investors can do to prepare for future rate rises while interest rates are still low.<\/p>\n There are still competitive rates to be found, so now is a good time to review your mortgage and compare it against what other lenders are offering. Making the time to speak with a mortgage broker or your current lender about whether your interest rate and loan structure are still right for you can help to make sure you\u2019re in the best position when rates start rising further.<\/p>\n If you\u2019re on a fixed-rate mortgage, it could be worthwhile chatting with your lender before the fixed term expires to explore your upcoming options. Make sure you know what interest rate the loan will revert to after the fixed-term period expires. You also don\u2019t have to wait for the fixed-term period to expire before you make enquiries with a new lender.<\/p>\n While interest rates are still fairly low, consider making extra repayments into your loan before rates rise even further. You can do this by making more frequent repayments (i.e. fortnightly instead of monthly), or by depositing a lump sum like your tax refund (tax time is coming up fast!).<\/p>\n If you\u2019re currently on a fixed interest rate, it\u2019s important to make sure that your lender hasn\u2019t placed any restrictions on making extra repayments.<\/p>\n If you have a mortgage offset account, build a buffer for future you by making extra repayments into this account. That money is then ‘offset’ against the balance of your home loan, so you only pay interest on the difference\u00a0between the loan amount and the amount in your offset account. This means you pay off the loan faster and with less interest.<\/p>\n If your current lender\u2019s interest rates are higher than the market average, it could be worth picking up the phone and asking them if they can do a better deal. If they aren\u2019t prepared to do so, you may want to consider refinancing to another lender who is offering a more competitive interest rate. We have some of the lowest rates on investor loans in the market, starting from just 2.74%* p.a. (3.46%* p.a. comparison rate) on our Smart Booster Investor Bundle<\/u><\/a>, which allows you to bundle your investment loan with your home loan on your owner-occupied property. With no monthly or ongoing fees, you could save thousands.<\/p>\n * Rates effective from 22.06.22<\/em><\/small><\/p>\n ————————————————-<\/p>\n loans.com.au<\/a> is an online lender for home and car loans. Since 2011, Aussies have trusted our locally based loans.com.au<\/a> team to support them with low home loan and car loan rates, approved quickly through the online loans.com.au<\/a> app.<\/p>\n<\/p><\/div>\n
Do you need help finding the right loan for your investment?<\/strong><\/p>\n When investing in property, it is important to make sure that you not only have the lowest available rate that you can get, but also have the correct loan features for your needs.<\/p>\n Just fill in a few details below and we’ll then arrange for a local mortgage broker\u00a0to contact you and work out what features or types of loans are right for your needs. We’ll even help with the paperwork. Plus an\u00a0appointment is free.<\/p>\n \u00a0<\/p>\n<\/p><\/div>\n <\/p>\nReview your home loan<\/h2>\n
Make enquiries before the fixed-term expires<\/h2>\n
Make extra repayments now<\/h2>\n
Build a buffer<\/h2>\n
Refinance<\/h2>\n
![\"\"](\"https:\/\/fmsto.blob.core.windows.net\/cms\/images\/055\/0006_637913625091202613.png\")
Marie\u00a0Mortime<\/strong>r is\u00a0Managing Director of loans.com.au<\/a>, one of Australia’s largest online lenders. Since\u00a0Marie\u00a0started the business in 2011,\u00a0Marie\u00a0has grown loans.com.au<\/a> into a company with $6 billion worth of home and car loans.\u00a0Marie\u00a0is dedicated to improving financial literacy for all Australians and is passionate about the FinTech industry in Australia.\u00a0When she isn’t at work, she loves to spend time with her husband and two young children.<\/p>\n
\n Top Suburbs :
\n
\n
\n darlington<\/a>
\n
\n ,
\n
\n narara<\/a>
\n
\n ,
\n
\n gladesville<\/a>
\n
\n ,
\n
\n melton<\/a>
\n
\n ,
\n
\n spearwood<\/a>
\n
\n<\/p>\n<\/p><\/div>\n
\n Get help with your investment property<\/h3>\n
\n our privacy policy here<\/a><\/div>\n<\/div>\n