As we’ve seen in recent months, major banks not passing on rate cuts generally causes the sort of shock and controversy, which causes people to sit up and take note. And in this situation, smaller lenders may be a more viable option.
While some banks refuse to move their rates, others will. When banks move rates in either direction, this can often create confusion in the market place. However it can also create opportunity as many any of the smaller lenders are looking to take advantage of such movement and acquire a bigger market share by offering attractive lending packages. So it can definitely pay to talk to good broker to make sure that you have got the best deal available.