What is an Offset Account?An Offset Account is an everyday savings bank account which is linked to your home loan. The money you deposit into your Offset Account can be used to reduce the interest you pay on your mortgage while giving you total access to Offset Account funds anytime. What is a Redraw Facility?A Redraw is a feature of…
Having a good credit score is important if you want to get any sort of loan to purchase a property, a vehicle, or asset finance. A good credit score allows you to make use of a range of financial options, such as taking out a mortgage or loan, and owning your own credit card. Conversely, a poor credit rating can…
If you have a 30 year mortgage on your home but you want to pay it off quicker, there are ways that can help you be mortgage free faster-even small steps over time can make a big impact. There are two parts to each mortgage repayment of the principal and the interest. The principal is the remaining balance of what…
4 Ways To Improve Your Chances Of Getting A Personal Loan Whether you’re planning on buying a car, go on a holiday, or making renovate your home. Whatever your goal, getting a personal loan could be the key to it all. Here is a list of things you can do to improve your changes of getting approved for personal loan:…
Variable Rate Loans: A Variable rate loan is a loan with interest rate subject to change and the repayments/interest rate fluctuates when the lender decides to increase or decrease their interest rate. Pros: Benefit from interest rate drop, Redraw facility, Offset account, able to change loan at any time. Cons: Interest rate could go up at any time resulting in…
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Speak to a finance and mortgage professional Speak to your home loan lender for debt consolidation options See if you can withdraw your home loan equity to pay off your car loan entirely More info coming soon, stay tuned The content on this site is for informational and educational purposes only and is not intended as a substitute for professional…