Surfers Paradise Blog

There has been lots of discussion in the media about the potential rise of interest rates that can be unsettling for some property owners. However, there is no crystal ball or certainty when determining future outcomes.

When making any decision of change, it is important to consider and know your options.

1. If interest rates did rise, how would this financial impact you?
2. Take the time to calculate the monthly rise. How would a 0.5% - 1% increase impact you as a dollar figure?
3. Take the time to calculate the difference in monthly payments for a fixed compared to a variable loan.
4. Research and know the current interest rates that are available.
5. Research and know the different loan types.
6. Seek professional guidance and advice.

If you are unsure and, on the fence, you can always hedge your bet and split your loan to be 50% fixed and 50% variable until you feel more confident in deciding.