5
Things You Need to Know
Before
You Fix Your
Home Loan...
Now it's easy and free to get the best advice whether to fix interest rates on your home loan with Fix a Rate.
Registered Financial Advisers will assess your needs and requirements to see if fixing your home loan is the best for you - not the bank!
Then, if it's the right choice, Fix a Rate will negotiate with your bank directly to get the best fixed rates they can offer - with your 'interests' put first.
Here's the 5 Things You Need to Know Before You Fix Your Home Loan.
#1. You can split your home loan with some fixed and some floating - this spreads your risk if interest rates move up.
#2. You can still make extra payments* on fixed loans - this means you can still make huge savings by paying off your loan early. * conditions apply
#3. Fix a Rate can get discounts off the bank's carded (advertised) rates - saving you even more money, combine this with paying off your loan early you'll save thousands if not tens of thousands of dollars.
#4. You can lock in a fixed rate; up to 30-60 days before your current fix rate is due to expire - this means you can take advantage of the current interest rates and don't have to wait.
#5. If you break the fixed rate or repay the loan in full then the bank will charge you an 'early repayment fee' this can be quite costly - before you fix a home loan; ask yourself "Will we sell our home during this period or repay this loan." Remember the cheapest rate may not be the best rate.
For the latest advertised fixed interest rates from ANZ, ASB, National Bank and Westpac; choose the bank your home loan is with and see what fixed rates they are offering.
19th
May 2012
ANZ & National Bank cut long term fixed rates
ANZ & National Bank cut 18 month, 2 year, 3 year, 4 & 5 year fixed interest rates.
18th
May 2012
ASB & Westpac cut long term fixed rates
ASB have cut 4 year and 5 year fixed interest rates. Westpac have cut their
18 month, 2 year and 3 year fixed rates and capped rate.
14th
May 2012
ASB & Westpac cut fixed rates
Westpac have cut their one year fixed rate
home loans. ASB have cut 1 year, 2 year and 3 year fixed interest rates.
10th
May 2012
ANZ & National Bank cut fixed rates
ANZ and National Bank have cut their one year fixed rate
home loans by 40 points.
26th
April 2012
OCR remains at 2.5%
The
RBNZ left the OCR Official Cash Rate at 2.50% today.
24th
February 2012
Westpac cut fixed rates
Westpac have cut their three, four and five year fixed
rate
home loans by 35 points. Westpac is now in line with other banks.
14th
February 2012
ANZ
National cut fixed rates
ANZ and National Bank have cut their one, three, four and five year fixed
rate home loans by between 5 and 35 points. Both banks have identical rates
now.
26th
January 2012
ASB & Sovereign cut
fixed rates
ASB & Sovereign
have cut their one to five year fixed rate home loan by between 10 and
20 basis points.
ASB's cuts get bigger with the longer the term of the fixed loan. It has taken 10 basis points off the one-year rate, 15 points off the two-year rate and 20 points off rates of three years or more.
What
is FixaRate?
Is the
new way to fix your home loan rate - it's free, quick, easy and we do the
negotiating with your bank to get you the best fixed rate from 6 months
to 5 years.
How
does FixaRate get
discounts on fixed rates?
FixaRate is
owned by ADVOCO Mortgages - part of a larger group that settles over $2.0
billion in home loans every year,
that's
about $45 million a month
with each of the banks - ANZ, ASB, National Bank and Westpac. We are able to
compare fixed rates the banks offer and advise you on which is the best
option for you based on your circumstances.
What
is the bank's carded rate?
The carded rate is the bank's advertised interest rate. Depending on your loan
amount we
can get excellent discounts off the carded rates - saving you money.
What
if I have already decided on my fixed rate term and don't need any advice?
Then FixaRate is
prefect for you. Simply complete the fixed rate form (see above - click on your
bank
)
email it us and
we
will
negotiate the best fixed rate for you - we'll take out the hassle of negotiating
with your
bank. Our service is totally free to you - the banks have also have agreed to
waive their
usual
fixed rate fee which they would usually charge you and you can do it all from
the comfort of your home.
How
does FixaRate get
paid - is the service free to me?
Our service is totally free to you - the banks have also have agreed to waive
their
usual
fixed rate fee which they would usually charge you. We have broker agreements
with
ANZ,
ASB,
National
Bank
and
Westpac
-
if we negotiate a fixed rate on your behalf and you fix your home
loan
with the bank - they
pay
us a small commission.
Click on your bank above and let us negotiate a great fixed rate for you - today.
If you wish you can talk to a Registered Financial Adviser (RFA).
Call us on 0800 ADVOCO (0800 238 626) or email us.
Disclaimer
Every possible effort has been made to keep the information on this web site
as accurate as possible, however, neither the publishers of FixaRate nor
anyone engaged to compile the carded rate table accept any liability
for inaccuracies or any loss suffered as a result. It is strongly advised
that borrowers check loan documents from their bank.
Official
Cash Rate
