Pay more, more often. Want to pay off your mortgage early? Then make bigger mortgage repayments, more frequently. You’ll own your own home sooner and save a bundle on interest.E.g. paying an extra $10 per week on a $350,000 home loan (@7% average) saves nearly two...
An offset account is a bank account linked to your home loan. Rather than accumulating interest within the account, the money in the offset account is offset daily against your mortgage, reducing the interest payable on your mortgage. For example, if you have $20,000 in your...
As it becomes more and more difficult to break into the housing market, many families are considering the option of a guarantor home loan – generally used when parents provide their house as guarantee for a child’s loan. Basically, if you haven’t succeeded in saving enough...
Lines of credit can be very useful; however, you need to be careful regarding an evergreen set-up in which no repayments are needed and the interest is added on to the loan. Years ago that was a sound strategy for increasing your tax deductible debt. This...
How much interest could this save you? It’s not rocket science, it’s simply a matter of making more repayments more often and making sure you’ve got the best mortgage for your situation. Of the millions of homeowners, only some are getting out from under mortgage...
So you’re going to take the plunge into real estate ownership. Congratulations! You’ve just made a smart decision in securing your financial future. Let us help you with our top 10 tips for buying your first home. 1. Decide what you can afford Take a look at your salary,...
An offset account is a transaction account that can be linked to your home or investment loan. The credit balance of your transaction account is offset daily against your outstanding loan balance, reducing the interest payable on that loan. Offset accounts enable you to make the...
These loans are a great way to access the equity in your home to use for things like home renovations, investments or other personal purchases. Repayments on a line of credit loan are determined by the interest rate applicable at that time. If you have...
Just when you thought that you could get the best home loan deal by simply having a lump sum of cash, you might have to think again. Not all cash deposits are acceptable in applying for a home or investment loan when your deposit is...
With mortgage rates at their lowest since the days of black and white TV, this might be the right time to make a serious dent in your home loan. Lower rates mean any money you have in the bank could be earning less interest. But if...
He is also an accomplished presenter and educator
Co-authoring the popular investment book, Property vs Shares.