Save $25K off your mortgage repayments
The end of the financial year is not just a time for checking on your tax and super. Experts say right now is when you need to be closely examining your mortgage.
National Australia Bank’s Melissa Reynolds said: “See what ways there are to minimise your interest; for example have you got a home-loan offset account? Have you got surplus cash that you could be paying into your home loan?”
An extra $50 per week paid on to a 30-year $300,000 loan with a standard variable rate of 5.49 per cent will save a borrower $25,175 in interest.
Source: Herald Sun