When did you last review your home loan?
We recently had a client attend our office who had refinanced her home loan only three years ago. She was signed up on a really great rate(3.75%) and hadn’t realised the bank had been slowing increasing her interest rate over that time (up to 4.5%). She was now paying an additional .75%. Doesn’t sound like much, but on a $300,000 loan that is $43 dollars a week.
Over the lifetime of the loan (30 years) she would be paying an additional $47,056 in interest!
Needless to say, we found her a much better rate, and now she is enjoying that extra money in her pocket.
Do you know what your interest rate is?
If you would like us to review your home loan, simply bring in a recent home loan statement or email it to enquiries@spinell.com.au . This is a free service and could potential save you thousands of dollars, so what have you got to lose?
