A year ago today, I sadly, amicably split with my children’s fantastic dad… and I want to buy his share of our family home.
‘As a single mother now, surety has taken precedence. I need to know that my mortgage costs are contained.’Sure, I have missed the ideal time to fix my mortgage rate – life can’t be timed – but, as a single mother now, “surety” has taken precedence. I need to know that my mortgage costs are contained – as much as possible.And for all the smart money theory in the world, the reality is your financial strategy needs to make you feel relaxed and comfortable.
An offset account is a debt-busting “secret weapon” because it lets you use every dollar that passes through your hands twice: For its intended purpose – next holiday, school fees, emergency fund, whatever – and to slash your loan interest and, ultimately, the amount of time you spend in debt.
It also quarantines the money from your lender, unlike relying on a redraw facility, so you retain access to it if you get into financial strife. Mozo head of research Peter Marshall told me: “I don’t think I have seen such large rate movements in my [almost] 40 years in finance”.
NicolePedMcK Luckily the government is now pushing for multi generational mortgages, so you and your kids can pay to push up the housing bubble Thanks Albo 👍🏽👍🏽👍🏽
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