Just read an interesting article that the level of savings has dropped to the lowest level in 3 years.

This is one of those misleading statistics that suggests that everyone is dipping into their savings either out of need or out of greed but this is not necessarily the case.

As a general statement, one of the most effective ways to reduce the term of a mortgage or reduce the interest costs that are being debited each month is to avoid having savings but to instead pay these amounts off your mortgage. It saves tax and saves interest and could save thousands in the long term.

Make sure that you talk to your adviser before taking any action as every loan has different conditions.

• Offset Accounts
• How good is a pre-approval?
• Big changes taking place
• Easing of Lending Policies
• Finance for smaller units
• Every Little Bit Counts
• Benchmark Rates decreasing
• Redraw Facility Explained
• We did predict this!
• Age is not always a barrier!

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