Today the reserve bank announced a further 0.25% cut in interest rates.
On a loan of $350,000 that represents a savings in interest of close to $73 per month. So how can you benefit: • It might be a good time to consolidate your personal debts at a lower home loan rate. • If you maintain your loan repayments at the same level you will shorten the loan term (saving over 2 years of loan repayments on a $350,000 loan at 5%). • Perhaps you could increase your borrowing for investment • Revisit upgrading your home. Home loans are at record lows for Australia and you have the opportunity to fix for up to 5 years under 5%. It certainly makes budgeting easier. • Take the opportunity to see if you really have the best rate. What Now? Give me or the office a call to arrange a time to meet with me and discuss your plans or home loan. This could be part of making 2015 your best year ever! www.1300whatloan.com |
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