Steve McRae

Unit 6/1 Pioneer Ave
TUGGERAH NSW 2259
Tel: 02 4355 4940
Fax: 02 4355 4945

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Mortgage Choice for the Central Coast

Hello, I'm Steve McRae, and together with my wife Kim, we are your friendly Mortgage Choice Mortgage Brokers for the Central Coast.

First home buyers, investors, renovators, sea-changers " in fact no matter where you are on the property ladder, it's never the wrong time to look at your lending options. Which makes now the right time to talk to us - we have the experience and expertise to show you exactly what possibilities are out there.

We start with a friendly, confidential chat. Tell us your goals, your dreams. Tell us where you are and where you'd like to be. Then let us go to work. We'll assess your situation, look at your options and develop strategies to help you move towards achieving your property goals " whatever they may be.

Together with the experience and in-depth knowledge that only industry professionals can bring to the table, we also pride ourselves on our personalised service. From the very first phone call through to settlement and beyond, we're there for you. There to answer your questions. There when you need guidance. Patient when you need time.

Put simply, it's our job to take the stress out of finding the right finance for you. It's a job we take very seriously, and a job we both thoroughly enjoy. What's more, our service doesn't cost you a cent. Yes, our services to you are free. As Mortgage Choice Mortgage Brokers, we are paid by the lender, and we are paid the same commission* no matter which loan or lender you choose - so our only focus is your best interests.

Beyond our expertise in property finance, we can also assist you with:
- Personal loans
- Car loans
- Leasing and equipment finance
- Reverse mortgages
- General insurance
We are also specialists in refinancing and debt consolidation. So why not come in for a chat " or we'll come to you. Give us a call and let's get started today.

Looking forward to meeting you,

Steve and Kim McRae
*This information refers only to loans provided by our panel of up to 25 lenders with whom Mortgage Choice has an arrangement, under which it receives commissions and other payments.

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Set resolutions to repay your home loan sooner

This year's tips for budgeting, spending and managing your mortgage

 

Becoming a better budgeter, wising up on spending and making the most of any savings can help borrowers master their mortgage and own their home outright sooner, according to Australia's largest independently-operated mortgage broker, Mortgage Choice.

Company spokesperson, Belinda Williamson said, "If your goal is to pay off your home loan sooner, the beginning of the year is a great time to set new financial resolutions."

"Challenge yourself to ramp up your home loan repayments by readjusting your budget and finding ways to make extra contributions to your mortgage.

"Well thought-out saving, spending and loan repayment strategy decisions can help put you months or even years closer to living mortgage free. Keep in mind even small financial changes can have a big impact on how much interest you pay over the life of your loan and the length of your loan term."

Mortgage Choice offers these financial resolutions to help borrowers own their home outright sooner:

Resolution 1. Become best buddies with your budget
If you don't already have a budget, the New Year is the ideal time to start one. Ensure it factors in all your regular spending - home and/or other loans, utility bills, medical expenses, memberships, grocery bills, insurance costs, etc. Don't forget to include funds for socialising treats. Be honest with your budget and refer to it each time you contemplate a new expense.

Resolution 2. Slash your cash limit
Consider ways to cut your daily spend. For instance, a daily caffeine hit at $4 per weekday equates to $80 per month. Did you know by making a coffee an every-second-day spend and contributing $40 extra per month to your mortgage from day one (based on a $300,000 loan over 30 years at 7%) could reduce the total interest owed by around $31,000 and the loan term by almost 2 years?

Resolution 3. Review your home loan with a fine-toothed comb
There could be underutilised loan features costing you money or features worth refinancing for. Get to know your loan's features. Your mortgage broker can help review your current loan and its features and identify any opportunities to shop around for something better suited to your goals.

Resolution 4. When rates fall, keep repaying more
If your home loan's interest rate has recently fallen, consider keeping your repayments at the higher, pre-fall rate. For example, take a home loan of $300,000 at 7% over 30 years. If your rate reduces to 6.5% and you keep repaying your loan as if the interest rate was still 7%, you could shave approximately 4 years off your loan term and save around $60,000 in interest owed.

Resolution 5. Make the move from monthly to fortnightly
Switching your monthly repayment to fortnightly may make a significant difference to your loan term and the interest owed. There are 12 months and 26 fortnights in one calendar year; by paying fortnightly, you make the equivalent of 13 monthly repayments. The savings, based on a $300,000 loan at 7% equates to around $103,000 in interest and about 6 years and 6 months off the loan term.

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