Record low interest rates – are you making them work for you?

With interest rates remaining at record lows, in light of Tuesday’s announcement of ‘hold’ from the Reserve Bank, now remains a great time to make them work for you.

Low interest rates typically signal an opportune time to buy property, but you can capitalise on them even if you’re not in the market for a home. If you’re looking to sell your home, now is an excellent time to do those renovations you may not have been able to justify before now.

Financing your renovation with lower rates might net you more funds and result in increasing the value of your sale. By having decent funds to spend on your renovations, you can complete them sooner and get your property to market much quicker.

If you have a business and are considering an expansion, a business loan can help you purchase the right equipment, promote your services or invest in staff.

Buying a car might also be on the cards with lower interest rates. It’s a good idea to establish what your needs are and how much you want to spend, then decide if you’ll purchase a brand new or second-hand model. Your loan requirements will change slightly depending on what you choose, and a professional finance broker can advise what the differences are. 

At Green Finance Group we also we have access to experienced, independent Motor Vehicle Consultants who can help you get a better deal on your next car or cars. These car buying experts will do all the research and running around for you, finding you the right vehicle – new or used, negotiating the best price and even organising delivery. 

TOP TIP: Fixed rate mortgages won’t necessarily be impacted by lower rates. If you have a variable home loan, it’s a good time to increase your repayments, as you’ll save on interest and chip away at your loan balance.