Mortgage Repayments

Repayments on your home loans. Hey, it's Aaron. I'm from Diagnostics and Finance. This time of year a lot of settlements are coming through and a lot of questions in regards to when do I repay my home loan? Well, there's two options. One is the bank can recalculate it to a weekly, fortnightly or monthly period. Number two is that you could calculate from your monthly period and divide it by two or divided by four and you might find that you're actually paying a little bit more. But you're going to be ahead of the curve. You get another couple of weeks of repayments in when you get to the end of the year. Typically, a loan is due 30 days after the mortgage has settled and it's really cool. Within the first 0 to 14 days or 0 to 30 days that you get on the bank's phone, you make sure you got your Internet banking, you make sure you've got your repayments all set. If you do need to do any adjustments because it was a quick settlement or that sort of line of attack where it was so quick you needed to fix it up, you can get on, you can address it and you can jump on it straight away. If you need any help, just jump out to me and I'm more than happy to jump in there. Remember, if you take the monthly payment and you divide it up, you'll probably pay more off your home loan quicker than if you ask the bank to. Alright, bye for now.