The Major Banks Have Dropped Fixed Rates. Now What Do We Do?
Listen to Wealth Coffee Chats Podcast Now
In this Finance Friday edition of Wealth Coffee Chats, Cang Dang from Positive Money discusses the implications of interest rate changes on loans, the importance of understanding loan repayments and the potential pitfalls of financial hardship agreements with lenders. You need vigilance when dealing with banks and always consult with brokers to navigate the complexities of the mortgage market. Want to know more? Let’s Wealth Coffee Chat!
🎥Chapters:
00:00 – Introduction
02:08 – Show Starts – Introducing Cang Dang from Positive Money
03:09 – What do you do now that interest rates have dropped? Will cuts be passed on by your lender?
05:30 – What does ‘Financial Hardship’ mean for you? Will you be able to refinance your loan?
09:37 – If you’re requesting financial hardship, the banks will freeze your redraw.
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