Refinancing – Longer Loans Save A Bit But Cost a Lot

Probably the second biggest mistake I see people make when refinancing their home loan is being talked into the maximum term by their broker or bank manager.  The reasoning is sound – it will lower their repayments.  But what about the long-term consequences?  Well, they aren’t so great. Basically you will end up paying more […]

How To Build Wealth By Refinancing Your Home Loan

A third way that refinancing can help is that you may be able to substantially increase your long-term wealth. There are two extremely important concepts involved in this strategy that I will briefly outline: Compounding interest Salary sacrificing into superannuation   I have previously discussed compound interest at length and how it is a Golden […]

Refinance Your Mortgage to Own Your Home Sooner

Did you know the first few years of your home loan repayments are just paying off the interest?  You are barely reducing the balance.  However, refinancing can tip the scales in your favour. The reason for this is that a home loan operates like compounding interest in reverse.  To understand what this means and why […]

Refinance Your Home Loan and Live Life More

If your boss offered you a $4,224 pay rise today would you refuse it? If you retain a home loan with an noncompetitive interest rate then you are actually knocking back an easy pay rise.  A simple refinance may help you free up some cash flow and live life.  Let me show you how. Refinancing […]