Beat the interest Trap

I was chatting with a Broker friend recently who was telling me that when he explained to his daughter in law that most of her loan payment was going to interest and then showed her via an amortisation table, she nearly burst into tears. This lack of understanding of how principal and interest loans work seems to be far wider spread than we, as industry professionals, realise. Perhaps we need to take a step back and from coal face and make sure clients know that there are ways to help and offer those solutions up prior to the loan being taken out. I've created a very simple calculator that may help. Happy to field any questions and delighted to hear any helpful suggestions. Please take a second and Click on the link below.

Let me know what you think.

https://www.mortgageescape.com.au/s/Debt-Reduction-Simulator…

CheersChris