Fixed or variable?

One of the main choices you need to make early on is whether to opt for a variable or fixed rate loan. In general, if your goal is becoming mortgage free faster, a variable rate loan is a better option. Everyone needs to assess their needs on a case- by-case… Read more

Mortgage traps to avoid – Part 6

The fixed-rate trap You might be tempted to lock in a low interest rate for a couple of years so that you can have the peace of mind that comes with always knowing what your repayments will be. In my experience over the term of your loan you are very… Read more

Mortgage traps to avoid – Part 5

The government ‘Comparison Rates’ trap The government originally mandated ‘Comparison Rates’ as a way to make it easier for consumers to compare the true cost of a loan. But here’s the trick you may not have realized. Key Point: The Comparison Rate actually smooths out the appearance of any large… Read more

Mortgage traps to avoid – Part 4

The fees and charges trap Loan contracts can be very detailed, packed full of confusing words and legal disclaimers. One section that you should study with a magnifying glass is the ‘schedule of fees and charges’: $ Make sure you know whether you can make changes to your repayments. $… Read more

No more Mr Nice Guy: the ATO wants its money

Tax time is just around the corner and the ATO has sent out a warning to businesses around the country that owe it money: the COVID-19 moratorium on debt collection has come to an end. Rest assured though, you’ve got some options.