Interest rate announcement – March 2018

Today the Reserve Bank of Australia met to review the official cash rate. After last cutting rates in August 2016, the RBA have again decided to leave the cash rate on hold at 1.50% this month.

It’s easy to walk into the local bank and talk to a lender, or apply online for a home loan, but it may not always be the best option. Here are 4 reasons why:

1. Choice

When you’re buying a house, do you go to one real estate agent, decide you will buy a house from only them, and choose from what they have on the market? Do you make the best of what may actually be a poor fit for your circumstances? No! Of course not – why would you limit your choices in this way?

It’s really no different with the loan you use to pay for that home. Every lender, including the big four banks, second-tier lenders and specialist lenders, offers different products with different features, some of which will suit your goals and lifestyle, and some of which will not.

Industry experience

Harvest will use our expert industry knowledge to help you sort through all the lenders and all the “noise” and, unlike a bank lender, will find the loan that most closely fits your needs. We also assist you in preparing all the paperwork.

3. The MFAA difference

Harvest are members of the MFAA. This provides our clients with the added assurance that we have met higher education and professional development standards. We are also answerable to the MFAA Tribunal, which imposes penalties on members who are found to have breached the MFAA’s Code of Practice.

4. Let’s talk commission

Of course, Harvest earns a brokerage. This doesn’t mean that we’re not on your side. Whether you see Harvest or a bank lender, that person in front of you earns money by selling you a home loan. The difference, then? The bank lender is there to sell you one of their loans. Harvest is there to help you locate a product from a choice of over 31 lenders currently, that will optimally work for you. Where you are referred to us by an existing client or we have a relationship with the company you work for, we will rebate part of our brokerage to you. Harvest will also review your loan for continued competitiveness to ensure you continue to get a competitive rate.

Harvest have always done what’s in the best interest of our clients. We seek you’re your repeat business and covet referrals – but his will only happen when we are trusted. We strive and work hard, in your best interests, to achieve this.

Our Current Best Interest Rates

The best home loan rates we currently have available:

  • Variable rate of 3.68% pa (comparison rate: 3.69% pa)
  • 1 year fixed rate of 3.69% pa (comparison rate: 4.18% pa)
  • 2 year fixed rate of 3.69% pa (comparison rate: 4.62% pa)
  • 3 year fixed rate of 3.87% pa (comparison rate: 3.87% pa)
  • 5 year fixed rate of 3.99% pa (comparison rate: 3.99% pa)

Assumptions: $600,000 loan, owner-occupied purchase, principle & interest, LVR < 80%.