Wondering what your options could be?

No doubt, you have been bombarded with information regarding rising interest rates in the media of late. You are not alone when it comes to increased interest rates and feeling the pinch with increased repayments and a forever increasing cost of living.

The team at Finance Co. Group may be able to request a lower rate from your current lender so now would be a great time to chat to them and see what your options are.


From what we are hearing in the media, it appears we could be in for another rate rise, or maybe even 3 this year before the RBA gives mortgage holders some relief.

The increased interest rates have undoubtedly put a huge strain on homeowner, however, economists are then predicting we could start seeing interest rates being decreased, in late 2023 or in 2024.

Wondering what your options might be moving forward?

Fixed rates can offer peace of mind to borrowers by locking in an interest rate for a specific period time and assisting with knowing how much their loan repayments will be. Everybody’s circumstances are different and all options need to be considered. If you are contemplating on fixing all or a portion of your home loan, it is suggested that maybe a 1 to 2 year fixed rate might be an option to consider. The reason for this is that it will secure a locked in repayment for the next 12 or 24 months (not too long), and then hopefully in 2024 we may see some reduction in interest rates.

A good option would be for borrowers to consider splitting their loan so that it allows flexibility for additional repayments.

For example, you may owe $800,0000, you could fix a $700,000 portion and leave the remainder $100,000 portion variable. What this does is lock in your loan repayment on the larger portion 700k providing certainty with loan repayments each month. The remaining portion is then a Variable Rate which allows for additional repayments to be made at anytime. If interest rates continue to rise the repayments are only affected by the smaller portion of 100k which is minimal compared to the whole 800k home loan

Lenders are hungry for business and offering some sharp rates (for new business of course). If you need to consolidate debts, borrow additional funds for a worthwhile purpose then it is recommended that you chat to the team at The Finance Co. Group about what your options might be.