In Australia, interest on home loans is quoted as an annual rate, then calculated daily, and charged monthly. We decided to have a streetonomic look at how the interest on your home loan is calculated and what you can do to pay less interest and get out debt fasterRead More
If you have a home loan, then a mortgage offset account, is a great place for your extra cash. It will help you pay off your home faster. With an offset account, you can save thousands of dollars and take years off your mortgage.
Need access to your funds? Not a problem. A mortgage offset account is an 'at call' cash account. There is no obligation to lock your funds in. An no penalty for making extra deposits or withdrawalsRead More
The RBA is concerned that there are too many home loans in Australia are interest only. Investors are attracted to the negative gearing attribute which enables them to pay less tax. Is paying tax worth earning less money?Read More