Important information

Please be aware of the following;

Effective Immediately Tuesday 6th March 2012 Credit License Cancellation Lodged By Us With ASIC

Ability Finance have elected to cease all credit activities covered by ASIC credit licensing for various reasons including but not limited to;

  1. Lender commission cuts over the past few years.
  2. Additional liability, workload and costs arising from National Credit Licensing
  3. Lender minimum volume restrictions which result in smaller brokers not being able to offer all options to customers.
  4. Regularly encountered inexperienced lender staff who are unaware of their own employers policies whose advice wastes both broker and customers time and resources.
  • As a blog style website there is only historical content contained within this website that is out of date and no longer applicable. This content must only be used for historical reference purposes.
  • Ability Finance, through choice, no longer represent any lenders who may be historically referred to within this website.
  • No information or content contained on this site should be relied on as being current.
  • No content contained within this site should be taken as advice in any way at all.

Should you feel there is any content that should be removed from this site please contact the webmaster.
By any chance you feel specific content is interpreted as offering any credit activities by us it is to be ignored, please report to the webmaster for removal or modification.
If you are legally entitled to engage in credit activities and would like to advertise on this site please contact the webmaster.
If you would like a website developed or even to purchase this site modified to your requirements please contact the webmaster.
Meanwhile we are working hard at creating a one stop shop for purchasing high quality spray painting equipment online including an extensive range of the best spray gun models we are able to offer at discounted prices everyday right across the complete range of available spray gun models. Online spray gun prices with old fashioned personal service levels.

Interest Rates

Home Loan Interest Rate

History to October 30 2008

The attached graph is factoring in the 1% drop announced by the RBA in the first week of October. A more recent graph of interest rates to January 2009 is available on this page.

Following this announcement most, but not all lenders, dropped their variable interest rates by 0.80 percent. A little later in October one competing bank dropped their rates by another 0.25 percent making them the lowest variable rate.

BUT another competing lender only had to drop their standard variable home loan interest rates 0.21 percent to equal the lenders rates who had just dropped 0.25 percent.

Since then other lenders have announced rate drops of even 0.30 percent.

Interest rates alone do not make the lowest cost deal.

  • Application fees
  • Legal fees
  • Mortgage insurance
  • Valuation fees
  • Account keeping fees
  • Early repayment fees
  • Switch fees
  • Discharge fees
  • Deferred establishment fees

Any combination of these fees or charges can more than erode away any benefit of a low interest rate if comparisons are not calculated carefully.

Contact me now at Ability Finance for help with comparing, choosing and applying for, or refinancing, a current home loan.