AFTA @ Work January Newsletter - Qantas Credit Union
As Christmas has come and gone for another year, there is no better time than the New Year to review your financial goals and assess your mortgage options. With that in mind you should ask yourself whether the loan and structure you have is working for you, whether you have achieved your financial objectives and how you can improve on those objectives.
Do you want the security of your rate not changing? Do you want the certainty of knowing what your repayments are going to be? If you have answered yes to these questions, It might be time to consider a fixed home loan product.
Security and the ability to plan your budget are among the top reasons why people consider fixing their mortgage for a period of time. As interest rate movements are tough to predict, removing the uncertainty is a major benefit of fixing your mortgage.
If you are in a position where an interest rate rise could seriously impact your ability to make your repayments or adversely affect your financial goals, a fixed rate mortgage may be a suitable option as it eliminates the risk that comes with a variable rate mortgage. A fixed rate mortgage will offer you a fixed repayment amount, with a known interest cost for a definite period of time. This means you will not be caught out in the case of an interest rate rise because the rates, repayments and costs do not change during the fixed term period of the loan.
In simple terms, a fixed rate mortgage is an insurance policy against financial pressure brought on by interest rate movements - especially rapid ones! Currently, the Qantas Credit Union is offering one of the best 5 year fixed rates in Australia which could offer you peace of mind and security.
If you’d like to talk to us about our range of home loans, fixed rates or just help on budgeting, call us today
on 1300 747 747 or visit our website www.qantascu.com.au
The information in this article is of a general nature and does not constitute as advice. It has been produced without taking into consideration your personal financial circumstances, objectives or needs. Prior to opening any account you should conduct your own investigation and analysis of any benefits or costs associated with such. You should seek your own independent legal and financial advice. Normal lending criteria and fees and charges apply Terms and conditions apply and are available on request. Break cost may be applicable if the loan is repaid early. Qantas Staff Credit Union Limited trading as Qantas Credit Union ABN 53 087 650 557, AFSL/Australian Credit Licence 238305.