It is hard to believe that the year is almost over!
GPS has had a great 2022, but now is not the time to slow down. While some of the project teams have earnt a well-deserved break over the Christmas period, the GPS team is busy planning for 2023.
With the changing financial landscape due to interest rate rises, and fluctuating house and build prices, it is important that strategic decisions are made to ensure the best for our Investors over a consistent period.
This means that in 2023 you can expect at least one rate rise from GPS that will come into effect in the first couple of months. We will release more about this increase soon, but for now, know that we are thinking about you, and one is coming!
As we have mentioned before, our rates are not dependent on the RBA, and are instead driven by our borrower rates. We are not the kind of lender who increases rates mid term and risks the working relationships that we have with our borrowers. We instead choose to protect those relationships, work with them to complete the project on the agreed terms, and then reassess rates on subsequent projects. This is how Managing Director, Richard Woodhead, and GPS have been able to build a successful business over the last 27+ years.
As those borrowers return for their next projects over the coming months, GPS will be able to increase borrower rates (while remaining competitive of course!) and then pass those increases on to you, our Investors.
With the market changes coming about more quickly at the moment, GPS will remain agile, yet strategic, with everyone’s long term success in mind.
From Richard and the entire GPS team we wish you all the happiness over the Christmas and New Year holiday period. With our post-COVID world now allowing our loved ones to travel from near and far, we hope you enjoy this special time with all your family and friends.
The GPS office will only be closed on the Public Holidays, otherwise the team will be able to assist with any enquiries you have via email.
Here is what some of our team members are up to this Christmas break!
Richard and the Woodhead Family: The family will be together at Richard’s place for Christmas lunch and most likely followed by an afternoon nap!
Courtney (Investor Services): Family BBQ and cocktails with even the dogs dressed for the occasion.
Jeremy (Head of Funding): At home with the family but mainly cuddling Oreo his Dalmatian!