Don’t get caught up in the razzle-dazzle of the lowest rate

Given that the most talked about topic when it comes to home loans are interest rates, it's not surprising that getting the best rate often becomes the sole focus of home buyers and investors.

Especially today where interest rates are rising from their historic lows.

But what might seem like a good deal can often come with strings attached in the form of higher fees and ongoing costs or less flexibility.

Then of course there are low honeymoon rates that some banks offer, which roll over after a year or two and start to look a lot less attractive.

Get it right

Avoid the temptation of a lower headline rate by working out exactly what you need from a finance product and the features that will best suit your requirements now and in the future.

If you're a home buyer, you might want some of the bells and whistles to help with your day-to-day finances, such as credit cards attached to your mortgage account.

As an investor, you'll need flexibility when it comes to refinancing in order to add to your portfolio and the potential benefits of extras such as Line of Credit facilities.

It's all about planning a sound, overall financial strategy.

RealRenta has all the tools that a property manager has but for less than ¼ the cost of a property manager.

Join now and the cost is less than a cup of coffee a week to manage your rental property

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Jason Gwerder
Tuesday, 16 August 2022

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