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Don’t fall for the mortgage traps – David Potts

As mortgage rates fall lenders are loading repayments with extra charges.

The banks are pushing loan packages with discounts on the interest rate, home insurance premiums and credit card fees, but they come with an annual fee between $395 and $750.

Read more: http://www.theage.com.au/money/borrowing/dont-fall-for-the-mortgage-traps-20140911-10dsyv.html#ixzz3DZQhBM3D

 

DISCLAIMER: This disclaimer is a requirement of the Securities Industry Legislation Act. The writer of this article is not a practicing lawyer or financier. The information, statements and opinions expressed are intended only as a guide as to some of the important considerations to be taken into account relating to property investment. I strongly suggest that you consult with licensed professionals such as accountants, Lawyers, Valuers, Development Consultants, Quantity Surveyors and others, BEFORE signing any contracts or other binding documents.