What would you do with an extra $325 a month?

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Getting the best deal on your home loan is not always about paying it off quicker or saving on interest. I mean, us brokers probably think it is – but we also accept that’s not always the real world.

Let me paint you this picture: A client makes contact with us, and tells us they want to get a better deal on their home loan.

A check into their current home loan, interest rate and structure showed that despite what they thought was a pretty good deal, I could get them an interest rate a full percentage point better than they were currently on.

So let’s say, for instance, I took that client from a rate of 6.75 per cent to 5.75 per cent, on a $500,000 mortgage.

What do you think that looks like?

Well, the answer is $325 per month.


Imagine what you could do with $325 extra per month? It’s a nice dinner out once a fortnight. That’s 26 restaurants you could try in Penrith and across Sydney throughout the course of a year, without increasing your budget as it stands today.

It’s enough to pay for every single streaming service available in Australia plus the premium package of Foxtel. Imagine you got all of that ‘for free’?

In two months you could buy a PS5 with the savings.

You get the picture by now, surely. Insert yourself in it!

Sometimes people ignore changing home loan providers or seeking a better deal because they just think the default answer with the savings will be to pay more off the loan, or maintain your current budget but build a buffer in the loan.

And yes, that is the ideal financial solution – but everyone is different.

If you’re struggling to make ends meet right now, or if you just want a bit more freedom in your budget, the answer could actually be right in front of you.

Contact Bell Partners today – I’m sure we can help.


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