If you've seen the news today, you'll know the Reserve Bank of Australia has lifted the cash rate to 4.35%. And if you've got a home loan here in Bribie Island, Caboolture, Redcliffe, North Lakes or anywhere across the Moreton Bay region, that likely means your repayments are going up.
I know that's not easy to hear.
But I also know that moments like this are exactly when having the right person in your corner makes a real difference. So before you sit with the anxiety of it, let's actually look at what it means for your specific situation.
Don't Just Sit With It Let's Look at It Together
In my experience as a mortgage broker, I've seen one thing time and again: people who take action even a small action, like a quick conversation almost always end up in a better position than those who wait and hope things sort themselves out.
A rate rise doesn't mean you're stuck. It means it's time to ask some questions. And asking those questions on behalf of my clients is genuinely one of my favourite parts of this job.
Here's what I can look at with you:
What this actually means for your repayments. Not a general estimate your actual loan, your actual balance, your actual repayments. Let's put a real number on it so you know exactly where you stand rather than guessing.
Whether your current lender is still the right fit. Loyalty doesn't always get rewarded in banking. Lenders regularly offer sharper deals to new customers than they do to existing ones. I'll compare what's out there across our panel of 50+ lenders and tell you honestly whether there's a better option for your circumstances.
Options you might not know you have.Things like offset accounts, redraw facilities, or even adjusting your repayment frequency can make a meaningful difference to your bottom line and in my experience, most people haven't fully explored these. We'll go through what's available on your current loan and whether switching could open up better features.
The Honest Truth About Rate Rises
They're uncomfortable but they're also one of the most common prompts for people to finally review a loan they've had sitting on autopilot for years. In a lot of cases, that review leads to a genuinely better outcome than where they started.
I'm not going to promise you a magic fix. What I can promise is straight answers, a thorough look at your options, and no cost to you for the conversation.
Ready to Find Out Where You Stand?
If you've got a mortgage in the Moreton Bay region and you want to know what this rate rise actually means for you reach out. A quick chat could give you a lot more clarity than spending the afternoon worrying about it.
*This article is general information only and does not constitute financial advice. Your personal circumstances will need to be assessed before any product or proposal is recommended.
We are based on the beautiful Queensland coast, between the Sunshine Coast & Brisbane and we offer a complimentary home loan broking service.
Make an appointment today for an obligation-free chat, to talk about what you need and how we can help.
*This article is general information only and does not constitute financial advice. Your personal circumstances will need to be assessed before any product or proposal is recommended. Mark Hind is an Authorised Credit Representative (ACR 519951) of Outsource Finance Pty Ltd, Australian Credit Licence 384324.
You've seen the ads a big, bold interest rate that looks incredibly competitive. But there's another number sitting quietly beside it that tells a very different story.
The RBA has lifted the cash rate to 4.35%, and most lenders are expected to pass it on. If you've got a mortgage in the Moreton Bay region, your repayments are likely going up.
When the Reserve Bank of Australia raises the cash rate, it can directly affect home loan interest rates and mortgage repayments.
Whether you're just starting to explore your options or ready to move Mark and the team are here to help. Get in touch for a no-obligation chat and find out what's possible for your situation.
