You Deserve Relief from High Mortgage Repayments
Between December of 2001 and September of 2008, interest rates rose from 4.25 percent to 7 percent —a high we hadn’t seen since July of 1996. But after September 2008, the Reserve Bank of Australia began slashing rates, a move thatwould have been helpful to homeowners and new homebuyers, except that many major banks and lenders held back on dropping their rates.
These financial institutions refused to allow struggling Australians the relief they so desperately needed and deserved. Instead of sharing the profits and rewarding homebuyers and homeowners with reduced rates, these lenders forced them to pay more for their mortgage loans than they should have. In 2009, three of Australia’s big four banks passed less than half of the cuts made to rates—and took weeks to do even that. At the same time, they actually raised their variable rates by more than the rate cut itself.
Despite the RBA’s most recent two drops, many lenders are still clinging to old, high rates and refusing to give you access to the relief you deserve. At Freedom Loans, we believe in matching you with a lender who will observe low rates and who will help give you a payment you can afford to maintain for decades.
If you’re already under mortgage stress or would simply like to pay less every month so that you can save more for college tuition, retirement, or just a vacation with the family, Freedom Loans can help.