Who would have thought that mortgage interest rates could go down as low as they have? Most of the main banks are now offering fixed interest rates at less than 3% and a lot of our clients are asking us whether it's a good idea to break their current fixed term loan and re-fixing at a lower rate.
In this video, Gavin Greaves, explains what does breaking a loan mean, why mortgage holders could be charged a break fee and whether it could be a good idea to break and re-fix.
The bottom line is that you want every dollar you have at your disposal to be working hard for you, so this is not a one-size fits all solution. Play the video to find out more.
Please note that the information contained in this video is for general information purposes only, does not constitute and is not a substitute for professional or financial advice. Before making any financial planning decisions, you should seek independent financial advice specific to your own particular circumstances.