Easy, start with a shorter loan term I’ve written extensively on various methods of paying your home loan off quicker, saving yourself tens of thousands dollars and shortening your loan term. The incentive is huge given the large amounts of money you can save on loan interest. The high cost of your home loan is […]
Can you pick the lowest cost home loan?
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 […]
Investment interest rates dropping
Investment loans are getting cheaper(again). Back in late 2014 APRA issued a warning to banks to curb the rate of growth of their investment lending to 10%. This sparked a wide range of responses from banks and lenders, depending how close they were to the 10% cap. The almost universal outcome was an increase in interest […]