September 2017 Australian Interest Rates Remain Stable

Today’s October meeting of the Reserve Bank of Australia (RBA) has announced to keep the cash rate on hold at 1.5%.

While the economists keep changing their mind on the economic future of the country, one this is for certain is that banks are forced to make lending for difficult for borrowers that seek interest only loans and property investment loans . We have seen in the last few months that interest rates have risen and the amount you can borrow against the property has reduced from 80 to 90 percent depending on the lender.

Banks and other lenders are continually reviewing their variable and fixed interest rates and we will keep you updated on any changes that may occur in the next month.

INTEREST RATE ANNOUNCEMENTS

No changes reported.

Current Bank Interest Rates Rate Cut and Date
Adelaide Bank / Bendigo Bank No Change Announced
AMP No Change Announced
ANZ No Change Announced
Bank of Melbourne No Change Announced
Bank of Queensland No Change Announced
BankWest No Change Announced
Citibank No Change Announced
Commonwealth Bank No Change Announced
ING Direct Bank No Change Announced
ME Bank No Change Announced
Heritage Bank No Change Announced
NAB No Change Announced
St George Bank No Change Announced
Suncorp Bank No Change Announced
Westpac No Change Announced

If you have any questions about the announcement or interest rates, please feel free to contact us.

To view and compare current home loan and investment loans click the link below.

If you are looking for a commercial loan or looking for a better deal please visit our commercial loans website.

compare home laons

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How Much Can I Borrow Mortgage Calculator

Smart Search Finance has upgraded its Borrow Amount Calculator. It is easier to use,  device and cross browser compatible for different device types

The calculator estimates how much you can borrow based on the information that is submitted.

To use this calculator  click here.

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Home Loan Repayment Calculator Update

Smart Search Finance has upgraded its Home Loan Repayment Calculator. It is easier to use,  device and cross browser compatible for different device types

The calculator calculates mortgage repayments for both home and investment loans. for both variable and fixed rate loans. It also calculates the comparison rate (the “real” interest rate paid over the life of the loan), total fees, total cost of loan, interest paid and many other features.

To use this calculator  click here.

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Comparison Rate Calculator Update

Smart Search Finance has upgraded its Comparison Rate Mortgage Calculator. It is easier to use,  device and cross browser compatible for different device types

Comparison rate is the “real” interest rate paid over the life of the loan. It displays the real interest of the loan after accounting for costs such as upfront, ongoing and exit fees.

For example, a $350,000 home loan may advertise an interest rate at 5.00%. However, if the upfront fees are $500, exit fees are $1,000 and their is a $10 monthly fee the real interest rate would be 5.06%

To view the calculator the image below or  click here.

 

 

 

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Stamp Duty Concession and First Home Buyers Grant

We have added a stamp duty, first home buyers grant and stamp duty concession calculator to our list of  mortgage calculators at  Smart Search Finance website.

The stamp duty calculator calculates stamp duty for all states, stamp duty concessions and foreign purchasers duty.

The first home buyers grant and stamp duty concessions calculator calculates stamp duty concessions for first home buyers and pensioners. It also include the first home buyers grant amount for those purchasing a new home for the first time.

Below is a sample calculator you can find on the website.

Assumptions

Slecting “Primary Residence” and “Land” assumes you will be building a new home on that land within the time period suggested by the relevent “State” and therefore stamp duty concessions may apply to first home buyers and or pensioners.

All calculations assume settlement occurs after July 1st 2017.

Important Note About This Calculator

This is an estimate only. It is provided for illustrative purposes only and is based on the accuracy of information provided. It does not constitute a quote. Please check with your mortgage advisor, conveyancer and or state revenue department for the correct figure at time of settlement.

Current Lender Specials

Here is a selection of current lender specials from over 4,000 loan products

Lender Loan Type Interest Rate Comparison Rate Compare
Variable 3.79% 3.84% Enquire Here
Professional Package 3.79% 4.01% Enquire Here
Line of Credit 4.50% 4.72% Enquire Here
1 Year Fixed 3.89% 4.29% Enquire Here
2 Year Fixed 3.69% 4.75% Enquire Here
3 Year Fixed 3.79% 4.84% Enquire Here
5 Year Fixed 3.99% 5.14% Enquire Here

WARNING: The comparison rates for all home loans are based on secured credit of $250,000 and a term of 25 years. The calculation includes the interest rate, upfront fees, ongoing annual or monthly fees and discharge of mortgage fees. The comparison rate applies only to the example given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees and cost savings such as fee waivers are not included in the comparison rate but may influence the cost of the loan.

Smart Search Finance is not making any suggestion or recommendation about a particular credit product from this website. You may be viewing a product that is unsuitable for your lending needs. It is highly advised that you speak to one of our qualified licenced advisors or the relevant financial institution to ensure that interest rates, product information and your financial needs are suitable to apply for that product. Rates are only indicative at time of publication and are subject to change. Please contact Smart Search Finance for updated interest rates

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July Interest Rates Unchanged at 1.50%

Today’s June meeting of the Reserve Bank of Australia (RBA) has announced to keep the cash rate on hold at 1.5%.

While the economists keep changing their mind on the economic future of the country, one this is for certain is that banks are forced to make lending for difficult for borrowers that seek interest only loans and property investment loans . We have seen in the last few months that interest rates have risen and the amount you can borrow against the property has reduced from 80 to 90 percent depending on the lender.

Banks and other lenders are continually reviewing their variable and fixed interest rates and we will keep you updated on any changes that may occur in the next month.

INTEREST RATE ANNOUNCEMENTS

No changes reported.

Current Bank Interest Rates Rate Cut and Date
Adelaide Bank / Bendigo Bank No Change Announced
AMP No Change Announced
ANZ No Change Announced
Bank of Melbourne No Change Announced
Bank of Queensland No Change Announced
BankWest No Change Announced
Citibank No Change Announced
Commonwealth Bank No Change Announced
ING Direct Bank No Change Announced
ME Bank No Change Announced
Heritage Bank No Change Announced
NAB No Change Announced
St George Bank No Change Announced
Suncorp Bank No Change Announced
Westpac No Change Announced

If you have any questions about the announcement or interest rates, please feel free to contact us.

To view and compare current home loan and investment loans click the link below.

If you are looking for a commercial loan or looking for a better deal please visit our commercial loans website.

compare home laons

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