this post was submitted on 29 Jun 2023
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I re-financed recently - currently on 5.69%. If your current bank won't budge, shop around.
Is that variable? I'm going to have to do this soon. Any perks for moving to the new lender?
Yep that's variable. Switched last month, already recieved a couple "we're increasing your interest rate" letters. Still sounds like my rate is good. I'd move if your bank won't give you a competitive rate, money savings to be had.
I've heard some banks offering lump sum payments to come over - I think a mate saved and managed to get $5k by going with Bank of Melbourne? But that was six months ago so not sure if that's still the same now.
Wow - yeah that's lower again. And to think before I called I was paying 7.2%. Thank you - I'll get onto the broker.