Want a luxury car or a luxury holiday? Doing this simple thing could get you one

first_imgFancy a luxury car? Maybe you should refinance your mortgage.DOING this one simple thing can put you on the path to saving thousands and spending your money on something you really need – like perhaps a luxury car or a luxury holiday!The experts have crunched the figures and refinancing your mortgage to a lower interest rate, could potentially keep an extra $100,000 in your pocket over of the loan.More from newsNew apartments released at idyllic retirement community Samford Grove Presented by Parks and wildlife the new lust-haves post coronavirus20 hours agoResearch by finder.com.au revealed nearly a third of Australian households and 35,000 Queensland households were suffering from mortgage stress.Despite this only 4 per cent of Queenslanders refinanced their mortgage last year.Not refinancing means that many homeowners could be losing out big time over the life of their loan.According to finder with an average Queensland loan size of $333,600 with an average variable rate of 4.95 per cent – a 50 basis point discount would pocket you $36,090 over the life of the loan, or $100 per month.If an owner was able to secure at 3.44 per cent that would equate to spending $105,766 less over the life of a loan.And don’t think you can’t find a rate that low – it’s on offer through Reduce Home loans for those who participate in Finder’s three day savings event which starts today.last_img

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