Posts Tagged ‘Short loan term’

RAPID LOAN REPAYMENTS with MELBOURNE MORTGAGE FINANCE

Rapid Loan Repayments

Relatively small additional repayments can have a dramatic effect in reducing the term of your loan. On an average $300,000 loan with an interest rate of 5% pa, additional repayments will fully clear the loan as follows:

$ Repayments pm Term of Loan
1610 30 years
1754 25 years
1980 20 years
2372 15 years
3182 10 years

Loans can also be paid off quicker using other additional techniques:

  • direct credit of your full salaries straight into your loan account and access minimum funds using redraw facility
  • pay for monthly living expenses using a credit card, then fully repay the card balance at the end of each month
  • make weekly repayments instead of monthly repayments
  • pay occasional lump sums straight off the loan balance e.g. gifts, tax refunds and proceeds from asset sales
  • if interest rates fall, leave your repayments at the higher level
  • as your salaries increase, make voluntary higher weekly repayments

Using all the above strategies, it is possible to fully repay your loan in 10 years.

Contact Melbourne Mortgage Finance Today To Learn More.

What our customers say about us

Thanks for all your help and for making it so easy for me. Life will be so different now.

Jan Vincent
Montrose, VICTORIA

Thank you for your time on the phone yesterday and copying me into the below email.
I just wanted to take the time to say that I have never seen such a comprehensive email provided to clients by a Broker before. Very clear and detailed.
I hope it’s ok that I hold onto your details to refer to clients who may need assistance.
Kind Regards,

Shannon Oatley
Director & Licensed Conveyancer
Property Conveyancing Group, VICTORIA

We have found Barry Le Brocq of Melbourne Mortgage Finance to be very patient, caring and diligent in achieving a successful outcome to our refinancing requirement. We have no hesitation in recommending his services to others.

Don & Christine Perrett
Leongatha, VICTORIA

Many thanks Barry for the exceptional service that you have provided. We will most certainly be recommending you to our daughter (Bank of Melbourne branch manager) for any future customers who need a reverse mortgage loan.

Paul & Barb Spark
Somerville VICTORIA

 

LENDING UPDATE 14.06.19

  • LIVING EXPENSES ARE NOW A KEY ISSUE
  • COMPREHENSIVE CREDIT REPORTING NOW IN EFFECT
  • INVESTMENT LOANS AT OWNER-OCCUPIER INTEREST RATES
  • REVERSE MORTGAGE LOANS FOR SENIORS OVER 60
READ MORE

Melbourne Mortgage Finance offers an extensive range of mortgage products and services including

Home Loans, Investment Loans, Equity Access Loans, Low Doc Loans, 100% Loans, Refinance Loans, Commercial Loans, Deposit Bonds, Reverse Mortgages, Accommodation Bonds, Vehicle Finance, Plant and Equipment Finance, Financial Planning and Business Finance.

IMMEDIATE appointment can be made to meet at your home or office

  • NO CHARGE for assisting you. We receive a standard fee from the lender you select
  • reliable service, communication and follow-up. See “Testimonials
  • accreditation with 20 national lenders, allowing you to select from an excellent range of loans
  • we carefully listen to your needs, do our research, then present you with a short-list of three potential loan solutions. You choose the lender.
  • printouts of products, fees, interest rate and loan features are provided
  • arrange for your property insurance and personal insurance requirements to be assessed
  • ongoing availability to assist you after loan settlement
  • over 30 years experience in arranging finance and mortgage loans