Paying off your loan EMIs regularly and making some extra payments when you have surplus cash can make a big difference in getting the keys to your home faster. Even if the RBA cuts rates, keep paying the previous amount. Also, making mortgage payments fortnightly rather than in a month. will come handy in making some extra payments every year. Some loans offer an offset account and if you put your savings there, it will reduce the interest you pay over the tenure of your loan.

The interest rate plays a major role in finalizing the loan option. You have to look for the most competitive interest rate. Our loan broker will help you work out your present and future needs so that you can calculate how quickly you can pay off the loan.

This depends on how well you are in a position to pay off the loan. In case of fixed rates, your repayments will stay fixed to a specific interest rate. However, these loans don’t let you make any extra repayments or use an offset account.
Variable loans on the other hand give you added flexibility in repaying your loans. But if RBA raises interest rates, your repayments will change. There are lenders that allow you to split your home loan between the two options.

If a situation arises whereby you are unable to repay your loans or it is eating into your savings, you can consult our loan expert and see if there is any way to refinance your loan. You can also refinance with your current lender to get a better rate or a lower interest fee. Switching banks to get the loan features you want is another option, though there will be property valuation or exit fees on your existing loan.

Life can throw unexpected surprises at you. You may change employment, start a new family or plan a long holiday. These things can come in the way of your idea of taking a home loan. Hey, worry not! You can contact our home loan professionals and they will be there to resolve this quickly. They can help refinance your loan or even help you take a payment holiday.