With today’s roller coaster financial market many people are finding it hard to feel confident in finding the right superannuation strategy to build a retirement nest egg. But are they missing an opportunity right under their nose?
Torquay homeowners are missing out on potential savings of thousands of dollars – in some cases more than $150,000 – by not refinancing their home with a mortgage from a cheaper lender.
Imagine how great your retirement lifestyle could be if you were paying $150,000 less on your mortgage, and investing that cash into your superannuation strategy?
Too many people stay with an expensive home loan because they think it’s too hard to switch. But that’s not true. The rules have been changed making it easier and cheaper than ever before to refinance a Geelong mortgage at a lower rate.
Mortgage exit fees have been banned by the Federal Government to make it easier for home owners to shop around for the best mortgage rate. This means exit fees should no longer deter you from refinancing to a cheaper home loan, giving you the opportunity to pocket your savings to benefit your retirement.
Refinancing your home has the potential to make a massive difference to your retirement lifestyle. For example, if you refinanced a $350,000 loan from a mortgage at the current average variable interest rate, to a new Konnect Financial Services mortgage you could save $159,000 over the life of the loan.
If you’re looking to refinance your Geelong home loan, make sure you’re comparing apples to apples when choosing your next home loan by understanding all the fees and charges attached to the refinancing.
There’s more to a home loan than just negotiating a low interest rate. For example, some banks may offer a low interest rate but will also charge you a yearly fee – often several hundreds of dollars – for the right to enjoy that low rate.
At the moment Konnect Financial Services can secure for you a mortgage with a well-known lender that has the cheapest interest rate around – and no ongoing fee.