Interest Rate Rise – What does this mean for me?
The example table noted repayment figures for a 30-year term, when in fact, they were calculated on a 25-year term; we have updated this.
We’ve also taken this opportunity to update the example table to reflect the significant shift in the interest rate market since this guide was first released. Where we previously used a base rate of 3.50%p.a. for repayment calculations, we’ve now updated this to 4.00%p.a. This change should make the guide more relevant for your clients.
If you have any questions, please do not hesitate to get in touch.
Email us today at: vipul@shriifinance.com.au