Quote:
Originally Posted by TrevorW
Trust me you can't negiotiate interest rates with banks they are not interested, if they did it for one they need to do it for all and would cost them. They know that most people will accept a 1/4-1/2 percent interest rate difference because it's too difficult and sometimes costly to switch mortgages from one bank to another.
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I am very glad I paid out the remaining principle on my home mortgage in 2000 and so no longer have to worry about that kind of thing. My wife and I were both 43 yo then.
Never DINKAMs or DIWKAMs either , it can be done on one income and a stay at home spouse.
Believe me, it makes a huge difference to your outlook and sence of security to own 100% your home and not have a mortgage hanging over your head. Nest decision and investment I ever made was to ignore the financial planning ratbags' advices and go with my own common sense on what to do with a big chunk of my Onesteel closure separation cheque. (No golden handshake for me .... wasn't at Onesteel long enough - only 10 years that time round.)
I would say to anyone who has mortgage with a bank go over to a building society , the Greater Newcastle looked after us very well , even allowed us to reduce our repayments for 5 years when I was retrenched in 1982 and returned to univerrsity to retrain as an engineer - all we needed to do was ask to talk with the local manager and explain what had happened and what we hoped to do , he listened , was very simpathetic , made call to his overmanager and said "OK that'll be fine and good luck" and even asked us to come and see him if we needed more help at anytime ... now is that service and or not .... bet we'd been out on the street quick smart if we'd have been in a bank mortgage and could no longer afford our mortgage repayment.