Blog A Christmas treat that will save you thousands

A Christmas treat that will save you thousands

18 December 2020
A Christmas treat that will save you thousands

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It’s starting to look a lot like Christmas and after the dumpster fire year that has been 2020, it’s time to get into the spirit of Christmas and reward yourself with a gift that will save you thousands.

Yep, we’re talking about refinancing your home loan and while that probably doesn’t sound as exciting as unwrapping the new PlayStation 5 on Christmas Day, you will continue to reap the benefits of refinancing for years to come.

With home loan interest rates the lowest they’ve ever been in history thanks to all the cash rate cuts from the Reserve Bank, it’s never been a better time to refinance.

But just because the Reserve Bank has made many cuts to the official cash rate this year, it doesn’t necessarily follow that your lender will automatically pass on the rate cut to you. It’s up to you to shop around for a better deal.

Great deals at loans.com.au

We’ve recently launched a variable rate home loan that starts with a 1. Our Smart Booster Home Loan is available for owner-occupiers for 1.99% p.a. for the first year, before reverting to 2.48% p.a. (2.47% p.a. comparison rate).

Let’s take a look at how much you could save by switching to this loan using our refinancing calculator.

Refinance Calculator

Scenario #1

If you’re an owner-occupier who owes $450,000 on your current loan, with 25 years left on your loan at an interest rate of 3.00% p.a, you could save approximately $34k over the life of your loan.

Scenario #2

If you’re an owner-occupier who owes $750,000 on your current loan, with 30 years left on your loan at an interest rate of 3.50% p.a, you could save approximately $140k over the life of your loan.

If you’ve got an investment property and currently have an Owner Occupied loan with us, you can bundle your loans together and take out our Smart Booster Investor Bundle loan. This loan has a low 1.99% p.a. discounted variable rate for the first year, before reverting to 2.71% p.a.

If you’d rather lock in your interest rate, we’ve got super low fixed rates for owner occupiers and investors. We’ve got a special low rate of 1.99% p.a. fixed for three years (2.70% p.a. comparison rate) for both owner occupiers who have up to 80% LVR.

For flexibility, you have the option of a split loan with a portion fixed and the rest on a variable rate. That provides the certainty of a fixed rate, but lets you enjoy the benefit of any rate cut, and still use 100% offset sub-account to minimise your interest. We also don’t charge any monthly or ongoing fees.

Why you should refinance with loans.com.au

Being an online lender, our overheads are much lower than those of the big banks which means we can pass on those savings to you! Plus, we offer a quick and easy refinance process with our Fast Trax Refinance in a fraction of the time it takes to refinance with other lenders.

Don’t think that just because we’re an online lender that we don’t offer personalised service. In fact, it’s quite the opposite. When you apply for a loan with loans.com.au you’re assigned your own personal loan specialist who will be your single point of contact throughout the entire process.

If all that hasn’t convinced you, we’re an award winning Australian owned and run business. We’ve won awards for our home and car loan products from  RateCity, Mozo, Money Magazine, Your Mortgage, the Australian Home Loan Awards and Canstar - just to name a few.

A loans.com.au home loan could save you thousands of dollars a year, so give yourself the ultimate Christmas gift this year by refinancing to us. Speak to one of our lending specialists to get started.

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