Honeymoon interest rates and what can happen!

A warning to home buyers who are lured by attractive rates as a new customer. A lot of lenders are competing for your business and are discounting their rates to do this. It means your nice and comfortable rate honeymoon won't last forever. In some cases, the rate will effectively double at the expiry of the fixed period or "honeymoon" offer.

This is frustrating when you get that letter notifying you of the rate hike. It means you have to find more money to pay the loan and you may be struggling to adapt to change.

One option is to have a mortgage broker manage your account and monitor it for opportunity to switch to a better rate by directly negotiating with the lender on your behalf or switching you across entirely to a new lender. This will help keep your repayments lower and provide peace of mind knowing someone is looking out for your best interests.

Call me for advice on how I can help manage your mortgage. a