More discounting from lenders on the horizon: 1300HomeLoan

Lenders are expected to discount their rates further in coming months, according to 1300HomeLoan managing director John Kolenda.

With interest rates still at significant lows, there’s competition in the market between the lenders that may spur on further discounts for current and new mortgage holders.

“We are seeing some of the lowest fixed rates ever and there’s also good deals being offered on variable rates,” said Kolenda.

“This is an environment which offers potential wins for the home loan customer prepared to shop around for a better deal.”

He noted that the borrowing costs for banks in the global market have fallen, leaving them well placed to offer competitive home loan products.

“The home loan customer is in a strong negotiating position and your lender will be keen to listen, particularly if you raise the possibility of looking elsewhere,” he said.