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How to Deal with Inflation and Rising Interest Rates as A Borrower

refinancing or switching to different home loans

As 2022 has come to a mid-year point, it is important to note that Australia, like most of the world, is facing unprecedented levels of inflation and extremely high interest rates. This can mean serious trouble for someone with a home loan or a mortgage.

Interest rates nationwide were hiked in May and then again in June. It is uncertain whether there may be further hikes as the year progresses.

Many Australians are not prepared to deal with inflation and rising interest rates and are worried about having to refinance. Refinancing isn’t always the first choice for many homeowners as they fear they may end up in a worse situation than they began with.

The best way to approach the situation is to have a conversation with your broker and review your home loan or mortgage. Switching to a different loan can actually help you save thousands of dollars this year.

One small benefit of rising inflation that you might take advantage of is that savings accounts across the county have started offering higher rates. If you are somebody that is saving money to put down a deposit on a new house, then this is the time to save more than ever!

It may also be in your best interest to get in touch with various different home loan brokers in order to find the best loans suited to your needs. The best home loan broker in Melbourne is Opulent Finance, with an experienced team with impressive portfolios that is focused entirely on you. Our team prides itself on coming up with innovative solutions for our clients that are customized to their unique situations. Give us a call for more information on how we can help you manage rising interest rates and inflation.

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Siraj Ahmed
Siraj Ahmed
2020-11-18
Trustindex verifies that the original source of the review is Google.
Excellent service. Got us a great loan option and also worked with the bank to get the loan approved during the heights of COVID.
Malaka Ekanayake
Malaka Ekanayake
2020-11-10
Trustindex verifies that the original source of the review is Google.
We have had a very pleasant experience working with Opulent Finance. We did not have that much experience with house loans as we were first home buyers but working with Opulent  Finance team specially with Ishara, made that experience stress free one. She helped us secure an incredibly competitive interest rate and offered her guidance so we can take advantage of the future interest rate drop. Thank you Ishara, Dayan and team for your incredible support and we have no hesitation what so ever in recommending Opulent Finance for your financial needs
Uma Gunaratne
Uma Gunaratne
2020-11-04
Trustindex verifies that the original source of the review is Google.
Ishara is highly knowledgeable and if you are a first home buyer and new to the intricacies of all that home loans entail, she will really take you under her wing and impart her knowledge and experience and treat you as one of her own. She is also extremely patient but will also be very truthful and upfront in situations which is honestly what you need. She did a very complicated loan for us, and was so incredible efficient and organised with all the paperwork that was required. Not only that, she helped us secure an incredibly competitive interest rate! Ishara has probably spent hours and hours explaining to me details and giving me really good guidance through this momentous period in life! During the cooling off period and settlement, she was constantly chasing up our loan and honestly took a personal interest in the outcome. Our solicitor was also very happy about working with Ishara as she was following the entire process, was always up to date and very easy to work with. Considering that our entire process happened during the covid-19 lock-down and work from home environment, we have nothing but good things to say about how professional Ishara was as she didn't let a single thing slip. We are so glad that we have both Ishara and Dayan in our corner. We will definitely be using them for all future financing needs. Thank you Ishara, Dayan and team!
Harsha Ill
Harsha Ill
2020-10-11
Trustindex verifies that the original source of the review is Google.
Opulent Finance gave professional advice for my unique home loan requirement. They respond quickly with the proper information. The process was smooth and I felt comfortable to deal with the team. The team is friendly and professional to deal with. Highly recommended for any one looking for finance.
S P
S P
2020-09-22
Trustindex verifies that the original source of the review is Google.
I have been dealing with Ishara at Opulent Finance for over 6 months now and she has been faultless. She has helped me secure a loan pre-approval in no time and assisted me with my property purchases. I could not recommend Ishara highly enough.
Afshin Koohestani
Afshin Koohestani
2020-09-22
Trustindex verifies that the original source of the review is Google.
Good service and offers.
Janaka Kumara
Janaka Kumara
2020-08-22
Trustindex verifies that the original source of the review is Google.
A big shout out to Dayan and his team for the seamless service provided during the refinancing process. Thoroughly professional team that pays attention to every detail and has been extremely transparent throughout the process. A team that always has the best interest of clients in mind and makes all efforts to provide the right advise and outcomes to the clients. Highly recommended!
Rakesh Mistry
Rakesh Mistry
2020-08-19
Trustindex verifies that the original source of the review is Google.
They called me back with solution