How to boost your loan repayments and save big time Sometimes we think large extravagant extra payments need to be paid into our home loans to save and make even the smallest dent in the amount we owe. Not so. Small amounts paid in regularly over a period of time work wonders in reducing the […]
How to avoid this $44,515 refinance mistake
Mind the interest rate gap
Mind the interest rate gap Over the past twelve months or so, a significant interest rate gap has opened up between different types of loans. This has been driven by regulatory changes to reduce investment and interest only loans. Banks and lenders responded by increasing rates on investment loans and interest only loans. Increases have been […]
Interest rates rising?
Are interest rates starting an upward journey? The past month has seen a spate of what the industry calls ‘out of cycle rate rises’. This means banks and lenders increasing interest rates without an upward movement in the cash rate from the RBA. This shouldn’t surprise us. Banks and lenders freed themselves from the shackles […]
Which home loan should I have?-Part 2
Types of home loan payments Two common types of home loan payments are principal & interest and interest only. The most popular by far is principal & interest so we’ll look at that first: Principal & interest payments- As the name suggests each time you make a payment to your home loan part pays down the […]
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