colinrealestate

Well, all that was predicted has not necessarily come to pass!

You might recall my mentioning earlier in the year that our banking advisors were predicting that Fixed Rate Mortgages would never again be as competitively priced as Variable loans? Well guess what has happened? After all sorts of financial issues off shore, especially in Europe, the cost of money on the international market has dropped and we can again in NZ access fixed rate loans for two and five years at close to floating loan interest rates.

Our advice is to talk with your bank about options and make sure you get a current loan offer before you go committing to making an offer on a property. Why? Because recently too many people have been disappointed when they’ve gone back to the bank to confirm an earlier offer only to find the bank has changed their level of support.

Floating Rates or Variable Rate mortgage interest rates look set to stabilize now, with the reserve Bank indicating no change for some months.

Filed under: REAL ESTATE | Tagged: Real Estate