In ‘The 7 Easy Steps to Mortgage Freedom’ book, you’ll discover the little known secrets the banks want to keep from you.
- How a small reduction in your weekly mortgage interest can save you thousands over the life of your loan.
- The clever advertising tricks the banks use to hide the true cost of the loan (and make loans extremely difficult to compare).
- How banks make their high cost loans look cheap.
- How your home loan can get cheaper and cheaper the longer you have it.
- The most common and costly mistakes homeowners make with their loans.
Early in my Mortgage Broking career, I quickly saw that that most people paid much more than they needed to for their loans. Now, just in case you’re still thinking, “I’m sure I have a great home loan, so how much could I really save?” Think again. Reducing your interest cost by just $20 per week amounts to saving $49,736 of your hard-earned money over the life of your loan.
It is not your bank’s job (or in their financial interest) to show you how to save money on your home loan or how to make a smart choice.
Yes, when it comes to home loans, even tiny savings add up, and the bottom line is that banks are making a fortune.
Australian banks are some of the most profitable in the world. In fact, here are the recent annual profits for the ‘Big 4’ banks:
- Commonwealth: $9.93 Billion
- NAB: $5.30 Billion
- ANZ: $6.40 Billion
- Westpac: $8.10 Billion