15 Top Tips to reduce your mortgage repayments
Article by guest contributor Graeme Vimpani
Before taking action on any of the below ‘Top 15 Ways’, we recommend you speak with a finance specialist. Call 03 9725 2533 and make a time to see Michael Crowe regarding these 15 suggestions.
- Pay the first home loan instalment as soon as you settle.
- Review your loan at leas every two years ands ask your broker to negotiate a better rate with good flexibility.
- Ensure you use a mortgage offset account for your savings and understand how to use it wisely.
- Split your loan – fix a portion and leave the rest as variable to allow more flexibility.
- Avoid withdrawing cash from your mortgage account at all costs.
- Do not lower your minimum regular payment if interest rates fall.
- Set higher repayments.
- Make lump sum repayments or regular mini lump sum repayments.
- Pay your loan fortnightly rather than monthly.
- Set a budget and reduce any unnecessary spending.
- Pay loan fees up front.
- Align your repayments with your income cycle.
- Make extra payments as often as you can – preferably set up and auto payment to do this.
- Talk to Graeme Vimpani at Alpha loan about loans that offer features without a chatge.
- Check your loan fees and negotiate where possible.
The Hendrie Group
Michael Crowe
03 97252533
support@hendrie.com.au
https://calendly.com/michael-crowe
Alphaloan Mortgage Group
Graeme Vimpani
gvimpani@alphaloan.com.au
0411 886 310
