When it comes to choosing the features of a loan there are many things you need to consider.
The questions below will help you decide the features you need,
which should in turn guide you to the home loan that suits your
needs. When answering the questions, think ahead – not just
next year, but also five years down the track.
• Do I want to pay the loan off as quickly as possible or am I
happy to see out the term of the loan?
• Am I good at sticking to a budget or am I a spendthrift?
• Do I require certainty in the amount of my loan repayments
or am I happy for them to fluctuate with the interest rate
• Am I likely to want to draw back some of my repayments in
the future for spending on holidays, cars, furniture etc?
• If we are planning on having children, how will this affect our
ability to make repayments?
• Am I likely to receive some form of cash windfall or bonus at
These answers will assist you in clarifying your goals, which will
in turn help your mortgage broker work through the different
loan options and find you the most suitable loan for your you.