7 Mortgage Tips To Cut Costs
Thought you might be interested in an article 7 Mortgage Tips To Cut Costs and thought I’d share a few points with you here. I’ve found some relevant information here so if I find more, I’ll be sure to pass it on.
- Make fortnightly or weekly repayments instead of monthly. With 26 fortnights every year, this is equivalent to making an extra month's payment each year – helping you to build equity in your home and pay off your loan sooner.
- Make larger or lump sum repayments, which will not only build equity in your home, but also reduce your loan term and save on interest (check the terms and conditions of your loan regarding early repayment or lump sum payments).
- If you're concerned about volatile interest rates, consider splitting your home loan (part fixed, part variable) while still enjoying the flexibility that a variable rate offers.
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Thanks,
Stewart