Browse Forums Home Finance Re: Switching banks?? Can it be done? 3Sep 30, 2009 8:24 pm Caz & Co ALL MOVED IN!! Now comes all the hard work-decorating.... [b]Blog: http://cazoraz.blogspot.com/ Settling in Thread: viewtopic.php?f=31&t=36993 Re: Switching banks?? Can it be done? 10Dec 02, 2009 12:31 pm thlo Refinancing for a small rate cut may not be a prudent decision these days. There is a possibility that lenders may raise rates over and above any Reserve Bank rises (just need to remember 2008) and if the bank you refinance to happens to do this you may be worse off. I don't like saying "I told you so" but SkyNews Westpac's rise shows lack of competition Westpac's hiked its standard variable lending rate by almost double the amount of the central bank's increase. Australia's second biggest home loan lender yesterday delivered a bigger than expected interest rate rise, announcing it will increase its standard variable home loan rate by 45 basis points to 6.76 per cent. It means repayments on a $250,000 mortgage will increase by about $71 a month. Westpac's move came after the Reserve Bank delivered its third official cash rate rise in as many months, lifting the cash rate by 25 basis points to 3.75 per cent. All other major and regional banks left Westpac to take the heat from the expected negative publicity, simply saying their rates are under review. Analysts say Westpac's demonstrating the pricing power that the big four banks have due to reduced market competition. I work with owner, he/she is my man on the ground and I instruct them when to visit the site and take photos and I have other tools in the bag. 4 15265 Depends what you're current inclusions are, but we're not including wardrobes and will just use second hand ones until we can save later on to get them built. Also have a… 3 11629 I am in the same situation, would you be able to give some insights in to this? I am in SA 8 17041 |