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Home loans - Should you switch?
Should you switch?
Switching your home loan to another lender or product could potentially save you thousands of dollars in interest, or at least give you the advantage of handy features such as off-setting.
ASIC's Moneysmart website has a mortgage switching calculator to help you work out:
- whether you will save money by switching to another mortgage
- how long it will take to recover the cost of switching
- the benefits of making higher repayments instead of the minimum.
About the author
Chris Waterman is the principal of Waterman Property Advocates. With more than 30 years real estate and managerial experience in South Australia and the Northern Territory, Chris established the company in response to a real need.
Chris's experience gives him an intimate knowledge of buying, selling and negotiating all types of real estate.
Chris enjoys a balance in life, with horse racing and syndication, wine, cooking, football and cricket in his leisure time.
