From Why to Wealth
Welcome to the From Why to Wealth Podcast, where we discuss topics from home loans to managing debts and building wealth to last you and your loved ones a lifetime.
Join us in each episode to gain knowledge and strategies from certified financial experts and learn the intricacies of managing your money and time effectively.
From Why to Wealth
This Bank Policy Could Cut Your 30-year Mortgage In Half! | Ep. 04
Experience a simple, fast, stress-free loan process tailored to your financial needs. Contact us at https://www.thefinanceco.group/
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In our latest episode of From Why to Wealth Podcast, join me, Gabriel Mikha and Andrew Willis, Senior Financial Broker, as we share a powerful but rarely discussed banking policy that could help you slash years off your mortgage and save hundreds of thousands in interest payments.
We talk about how banks are required to assess your loan at a rate 3% higher than your actual rate, how this hidden "buffer" can be turned into a strategic advantage for faster loan repayment, and how making the assessment rate payments could save you up to $346,000 in interest.
We also discuss why putting extra payments into your redraw facility is often better than an offset account, how to maintain higher repayments even when interest rates drop, and how this strategy can create substantial equity for future investment opportunities.
If you want to learn how to potentially cut your 30-year mortgage down to just 16 years while building a significant investment nest egg for your future, then make sure to listen to this episode!
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SHOW NOTES LINKS
https://www.thefinanceco.group/
https://au.linkedin.com/in/gabriel-mikha-15727979
https://www.linkedin.com/in/andrew-willis-741b441b8/
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LISTEN TO THE PODCAST
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CONTACT US
Email: info@thefinanceco.group
Contact No.: 02 8004 5020
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TIME STAMPS:
00:00 Intro
00:41 How We Can Use the Bank Policies to Pay Down Our Loan
04:05 Paying Off Your Loan Sooner
06:12 Extra Repayments Weekly vs Monthly
07:39 Saving Money on Extra Repayments Monthly
10:52 Loan in 29 Years
14:09 How Do You Recycle Money?
16:32 Buying an Investment Property
20:13 Saving Money by Using the Banks’ Policy
24:46 Conclusion
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DISCLAIMER
The information provided in this podcast is for general purposes only and should not be considered personal advice. Always consult with qualified professionals or experts in the relevant field for personalised advice tailored to your specific situation.