Refixing Your Rate

Reducing your term

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Any additional payments you make towards your home loan reduces the interest costs substantially. Pretty much all the mainstream banks in NZ calculate your interest cost on the daily balance, so even incremental additional payments can have surprising results. Below are some examples...

Own more of your home quicker

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If your mortgage seems to dropping at the rate of a sunset at the North Pole, read on. Don’t get me wrong a sunset which lasts longer than a few days would be great to witness. However a mortgage which...

Tips on getting rid of your mortgage faster

1. Pay a little extra. An additional payment of $36 per week could save approx $100,000 on the interest cost of a $300,000 mortgage (30 year term at 7%). This would also shave six years off the term, imagine being...