Interest rates are on the move, and the banks are in a predicament trying to attract new business. The banks cannot reduce their Standard Variable rates to attract new borrowers, as this would impact their whole customer portfolio and cost them billions in lost revenue. 


Instead, they are offering artificially low short term fixed rates to attract new business with a cheap headline rate.  

Savings on the variable rate of up to 0.6% can be made by taking a 1 year fixed rate with your current bank.  

It would take three RBA downward movements of 0.25% for a borrower to be disadvantaged. On a $300k loan, this would save the borrower $1,800 per annum.  The cost to switch to a fixed rate is usually around $300. As you can see, this represents a substantial saving over the term of your loan.

If you would like a review of your current loan arrangements, please contact David Schuh on 07 5480 4808 or at 

Your full financial situation would need to be reviewed prior to acceptance of any offer or product.