-
Home Loan Redraw
A Home Loan Redraw feature is available on most of the home loans that are offered today (but not all). If you have a professional package home loan, then a redraw feature is a standard inclusion. It is also available on standard loans where you are paying the “standard variable” interest rate. But what is it. A redraw feature enables you to make additional deposits to your loan account in excess of the regular repayments, and to get them back if you need them. So if you receive a healthy tax return or some other unexpected funds, these can be applied to your home loan. In the future if you…
-
Finding the right home loan
Finding the right home loan in today’s mortgage market can be very time consuming. It can als be stressful for people that are seeking the right deal for themselves. There are many lenders, hundreds of loans, thousands of products with a range of interest rates. Finding the most suitable home loan that suits you can quickly become an overload of information. In addition, the search can be confusing as there are not only big banks that can offer a great deal, but small banks, building societies and credit unions. They can all have products that may suit you at first glance, but which will best suit your individual circumstances. A…