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- Contact your Time Finance broker
Getting the right home loan
Before you meet or discuss your financial requirements with us, consider the following basic issues that will help determine the right type of loan for you (your Time Finance Mortgage Broker will be glad to assist you in understanding these issues better):
- Do you want to pay the loan off more quickly? Loans are typically given over a 25 or 30 year period. The quicker and more often you repay your loan, the less you will pay in interest costs.
- Are you a good budgeter? Some loan features work very effectively if you maintain discipline, but can slowly creep up on you creating a bigger debt than when you started if you don’t maintain control.
- Do you like certainty in the amount of your loan repayments? Or are you happy to have payments fluctuate with official interest rate movements?
- Do you want to make extra repayments? Are you likely to want to draw back some or all of these repayments in the future for spending on holidays, investments, cars, furniture, etc?
- Have you properly thought about your future expense requirements? (eg. Children, schooling fees)
- How secure is your employment or work situation?
Having thought about and clarified your answers to these general issues, this will help refine the requirements of your loan so that we can find the most suitable loan for your circumstances.
With hundreds of different loan products in the market from all lenders, rest assured that your Time Finance Mortgage Broker will help get the right loan for you.
Any advice contained in this article is of a general nature only and does not take into account the objectives, financial situation or needs of any particular person. Therefore, before making any decision, you should consider the appropriateness of the advice with regard to those matters. Information in this article is correct as of the date of publication and is subject to change.