HOW TO PRE­PARE

Stirling Times - - Residential -

While the RBA is not ex­pected to lift rates sig­nif­i­cantly this year, banks can act in­de­pen­dently and raise the rates on their prod­ucts. Re­solve Fi­nance manag­ing di­rec­tor Don Crellin said home own­ers could pre­pare them­selves for in­ter­est rate rises. Take your monthly re­pay­ment and pay half of that sum ev­ery fort­night. Round up your loan and pay a lit­tle more Any amount you pay in ex­cess of your min­i­mum re­pay­ment can make a sig­nif­i­cant dif­fer­ence to your home loan over time. Get a home loan health check Home loans should never be a “set and for­get” propo­si­tion. To fix or not to fix? The most im­por­tant fea­ture of a fixed rate loan is not the rate, but know­ing what the monthly amount is over an ex­tended time.

Pay fort­nightly

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