Having seen some of the profits that the Big 4 have announced, we can all feel a little aggrieved that it is in fact our money making up those enormous funds now being divvied up to shareholders. Yes they are a business – and obviously BIG BUSINESS, not the local friendly bank on the corner that their marketing teams may want us to believe.

No - they are a business and as such have an obligation to their shareholders to increase profit year on year. Ever increasing fees, interest rate changes that don’t always seem to provide the full benefit of the Reserve Bank cash rate reductions - nothing changes – this is the business of banking.

And while you may throw your hands up in despair and think you can do nothing – the reality is you can. A little time with us, some focus on what you want – not what the banks want – and you could in fact save yourself thousands.

One key action lenders strongly encourage, of which we take a more personal and flexible approach to, is FIXED LENDING. 

Locking in fixed interest rates for 3,4 or 5 years may provide for supposed security ensuring you know what is expected each month however that can come at a financial cost – to you! By locking in for longer terms the opportunity to change your lending and take advantage of any potential rate drops throughout your fixed period may come at a significant cost – break fees. These costs can be exorbitant and run into many thousands of dollars. Even a 2 year fixed period may be too long depending on your personal circumstances.