Concern about Interest Rates

In this current mortgage environment, interest rates are a concern for everyone. When faced with recovering from an illness or business failure, how do interest rate affect your circumstances and why are there such differences in lender rates?
Differences in interest rates can be a response to a number of factors:
  • The current economic environment,
  • Risk profile of the applicant including the Loan to Value of the property Ratio (LVR)
  • The lender itself.

Bad-credit-loans.com.au have access to a number of lenders with rates up to 3% cheaper than traditional lenders. So, choosing the right lender and product for your needs can save you a fortune.

If we were to calculate the overall interest rate across all of your debts you might be surprised to find your repayments equate to quite a high overall interest rate.

For example:

  • 3 Credit cards totalling $22,000 @ 16% repaying ($660 each month)
  • 2 Car Loans totalling $42,000 @ 12% repaying ($950 each month)
  • Home Loan $220,000 @ 8% ($1613 each month)
  • Total Repayments – $3223
  • Total Loans – $284,000
  • Interest Rate 13.35%


In this instance, if there is a crisis at hand and the bank is ready to foreclose on your loan the only solution is to lower your overall interest rate. But even in circumstances not so critical, the solution can allow for more monthly cashflow even with a higher interest rate.

To get started simply Apply for a Loan below, or contact us for more information.