22 June 2013
FIXED INTEREST RATES MORE APPEALING Fixed interest rates have recently fallen to an all-time low. Some lenders across Australia are now offering three year fixed rates below 5%. By comparison, the big financial institutions are still offering standard variable rates at more than 5.7%, even after the usual 0.7% discount. However, according to the latest Australian Bureau of Statistics (ABS) data, only 12% of home buyers who have taken out a mortgage this
Yarraville
104 Somerville Road 9316 9000
Williamstown 1/66 Douglas Parade (Corner Stevedore Street) 9393 1600 www.jasstephens.com.au
year have locked their loans in at a fixed rate. Fixed rates are certainly looking more appealing this year especially when the numbers are crunched. For example, if the average discounted variable rate remained unchanged (and many experts believe they will not fall any lower), a household which had a $300,000 loan would pay nearly $8000 more in interest over three years than a family that fixed at 4.99%. That’s not just loose change! Variable interest loans tend to be more popular in Australia, they normally offer greater flexibility than a fixed loan and this makes them appealing. But for those who are currently shopping for a new mortgage it is well worth considering all the options, and that includes fixed rate loans. Discussing such an important decision with a mortgage expert is also a worthwhile consideration. And always seek legal advice before signing a contractual agreement if you are unsure of your obligations. Craig J. Stephens Managing Director / Officer in Effective Control M 0418 547 938
As a service to our vendors, we will require names & phone numbers on entry of all inspections. Privacy Act 2000: We use personal information collected from you during open for inspections for security purposes. We may also use that information to contact you with respect to this property and others we believe may be of interest to you. Also, we may contact you in relation to other services provided by us or our associates such as insurance, mortgages and loans. By providing your information to us you agree to our use of it as described above unless you advise us differently. If the information is not provided we may not be able to provide an effective and comprehensive service to you. (Your personal information will be collected and held in accordance with provisions of the Information Privacy Act 2000). We have obtained all information in this document from sources we believe to be reliable, however, we cannot guarantee its accuracy. Prospective purchasers are advised to carry out their own investigations. We strongly recommend that you clearly register your interest with our representative at the open for inspection, so that in the event of a sale being imminent, your position is protected. We make every effort to contact all interested parties prior to a property being sold.
MEET THE TEAM
MAREE CECCHIN
ANNA GRECH
ASTRID JANE
ALAN STEPHENS
REECE GOSSTRAY
Sales Trust Administrator
Senior Sales Consultant
Sales Consultant
Chairman
Phone 9316 9025
Mobile 0438 446 051
Mobile 0402 211 660
Mobile 0411 242 638
Project Sales Manager Banbury Village
Email salessec@jasstephens.com.au
Email agrech@jasstephens.com.au
Email ajane@jasstephens.com.au
Email astephens@jasstephens.com.au
MARK HUTCHESON
NICOLE GRECH
LACHLAN McCRAW
RACHEL WHITE
MAX WALLER
Sales Consultant
Marketing Manager
Mobile 0448 820 445
Mobile 0423 590 508
Business Development Manager (Property Management) - City of Maribyrnong
Business Development Manager (Property Management) - City of Hobsons Bay
Director Provincial Home Loans
Email mhutcheson@jasstephens.com.au
Email ngrech@jasstephens.com.au
Mobile 0400 335 498
Mobile 0431 597 601
Email lmccraw@jasstephens.com.au
Email rwhite@jasstephens.com.au
Mobile 0418 378 276 Email rgosstray@jasstephens.com.au
Mobile 0438 430 436 Email maxwaller@provincialhomeloans.com.au