Certainly over the past few years we have come to see the banks in gerenal

in a different light. Or perhaps their true colour. When it comes to making a profit

there would appear to be no emotion with them.

At Harcourt’s we have seen many a client led to sell due to banking changes

and the hoops that some of this client have had to do back flips to jump through.

When taking to your bank about options remember that most banks have adopted

a hardship polciy of some sort, here is a example of what some are offering;

• Deferred repayments on loans and credit cards.
• Alternative repayment arrangements (reduced or minimum payment required to prove serviceability) up to six months.
• Transferring a home loan to the lowest variable interest rate (variable only).
• Extending the term of a home loan to a maximum of 360 months

Also remeber that if you have problems or concern with you bank that you can

discuss this with www.fos.org.au Financial Ombudsman Service.

Otherwise we would always recommend the use of a Mortgage Broker as they can explain

all the option available to you, not just the products that the Bank wishes to sell to you.

One that we would recommend is Theo Krino’s from the local office of The Mortgage Gallery.

http://www.themortgagegallery.com.au/content/loan-finance-manager/?fmppage=2&fmpid=522&fmpoid=676&oid=39

Remember you do have options, I hope the above helps with anyone looking at

taking advantage of refinancing with the affordable rate that we now have.

Richard Morgan

Harcourt’s Bunbury

(08) 97226666