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Shop around…

Posted by Tamara McDowell on March 3, 2010

Yesterday’s interest rate increase is a reminder to mortgage holders to shop around if they are looking to refinance their home loan, according to the Mortgage and Finance Association of Australia.

“Changes to the official interest rate can present an opportunity to borrowers to get a better deal,” said Phil Naylor, Chief Executive of the Mortgage and Finance Association of Australia (MFAA).

He said all lenders were competing for business and mortgage brokers were best placed to find consumers the right loan from a range of lenders.

“There is considerable potential to save money through refinancing and the best way to shop around is through an MFAA accredited mortgage broker,” said Naylor.

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