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Journeys : Dec10 Jan11
Top tips for moving your mortgage There’s a range of reasons why you’d consider refinancing your home loan. You may be looking for a better interest rate or lower fees, or you might want different lending and transaction account packages. Maybe you’d like to tap into the equity in your home to renovate or for another investment. You may need to consolidate debts, or there could simply be a change in family circumstances. If you are looking at refinancing your mortgage, it’s a perfect time to review the market and consider sw itching providers. According to one of Tasmania’s leading lending specialists, B&E Personal Banking, there are a number of key points to consider when switching your home loan. For example, check the cost of paying out your loan and whether there are any early termination fees. If you are on a fixed interest rate there may be additional fees. Remember, fees can var y between lenders and are individual to the loan. When switching your mortgage, there are costs involved in setting up a loan with the new provider such as application fees, government charges and title searches. Depending on your circumstances, you may also need to take out mortgage insurance, an additional cost. According to B&E Senior Lending Officer Jason O’Brien, it may take time to recoup the costs of sw itching mor tgage providers. “It might be a few years before the saving on interest rates and fees makes up for the costs of ter minating the previous loan and setting up the new loan.” Jason says “It is important to get good advice if you are thinking of moving your mortgage before you sign anything.” Jason explains that borrowers need to review the overall package offered by the prospective mortgage provider and consider whether they offer: • A fee-free ever yday banking account • A mortgage offset account • A discounted interest rate • The ability to go from var iable to fixed rate and any associated costs • A redraw facility and the associated fees and criteria • The option to make additional repayments without penalty As part of an exclusive arrangement with R ACT, B&E Personal Banking will waive the usual $650 application fee on any of its ow ner-occupied home loan products for R ACT members. For fur ther information, visit ww w.ract.com.au and follow the prompts to home loans or call into your local RACT branch or phone 13 27 22. Apply for a B&E Home Loan today and start saving! 28 December 2010 / January 2011 Life on the move 5% OFF* across the store *Excludes adver tised specials & benchmark trade specials as displayed in store. Call 6234 3021 95-97 Brisbane St, Hobart. Opposite K & D Warehouse Sparco AUTO PARTS - TYRES - BATTERIES PTYLTD Dr. Ross Walker – leading preventative health specialist “Hearing loss should be treated early” Medical research has proven that early intervention assists the treatment of hearing loss and lets patients enjoy life to the full. FREE Hearing facts newsletter If you or your partner would like a copy of the latest edition of this informative newsletter please call now. Wecareaboutyourhear i ng 180 0 057 220 Profes s i ona l adv i ceabout yourhear i nghea l th Ga rry Mc Do nald tack les he aring loss head on D r. Ross Walker says “Why su ffer i n sil ence” Vicky’s Aussie mum has Victory! new leas e on life 1800 057 220 Hobart - Launceston Devonport - Kingston Beach Visiting Service across Tasmania www.audioclinictas.com.au
Oct Nov 2010
Feb March 2011