In this episode of That Backyard Property Pod, we delve into the intricacies of home loans, focusing on offset accounts and redraws. We'll break down how these tools can help you pay off your loan quicker and where you should keep your savings. We also explore variable vs. fixed loans and offer valuable tips for managing your home loan effectively. Additionally, we provide a step-by-step guide on using extra repayments and lump sums to significantly reduce interest and shorten your loan term.
General advice only and not personal advice. CRN 485467
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Chapters:
00:00 Introduction to Home Loans
00:48 Understanding Offset Accounts and Redraws
02:20 Variable vs Fixed Loans
02:56 Offset Accounts vs Redraw: A Detailed Comparison
05:48 Strategies to Pay Off Your Loan Faster
06:06 Using Our Online Calculator
08:06 Maximizing Savings with Offset Accounts
15:11 Conclusion and Final Tips
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Produced by Podwave Studios
#Realestate #MichaelKilliner #PodwaveStudios