Most banks do not allow extra repayments on fixed loans.
Some banks allow you to make extra repayments on your fixed home loan of up to $10,000 per account which can be made each year without penalty (additional payments above this amount may incur break costs).
The 12-month period is calculated from the date the fixed term commenced.
Other FAQs
Yes. Insurance can be held either inside or outside superannuation, and sometimes a combination of both is appropriate. Holding cover outside super may: Provide greater flexibility in certain claim situations [...]
In some cases, yes, the lender may ask for a letter of employment to prove your current and future employment status, namely: How long you have been a teacher. Whether [...]
Your super investment option should reflect your time horizon, risk tolerance and overall financial strategy. Many people remain in default or “balanced” options for years without review. While these may [...]
Superannuation is generally preserved until you reach your preservation age and meet a condition of release, such as retirement. There are limited circumstances where early access may be permitted, including [...]
Salary sacrificing can be an effective way to build retirement savings tax-efficiently, particularly for higher income earners. Concessional contributions are generally taxed at a lower rate than many personal marginal [...]
General information is broad and educational. Financial planning provides personalised advice, based on your specific circumstances, goals and risk profile — helping you make decisions that are appropriate for you.
Everyone is in a different financial situation. How much we can borrow will vary, because lenders will assess our borrowing power according to our income, expenses, and financial commitments. To [...]
In many cases, yes — however, early repayment conditions can vary between lenders and loan types. It’s important to understand any fees or break costs before finalising the structure.
Most banks do not allow extra repayments on fixed loans. Some banks allow you to make extra repayments on your fixed home loan of up to $10,000 per account which can be [...]
During the accumulation phase, contributions are made into super and earnings are generally taxed at concessional rates. Once you transition into retirement and commence a pension, income may be drawn [...]
We’re all unique when it comes to our finances and borrowing needs. Contact us today, we can help with calculations based on your circumstances.
Insurance is not mandatory, but if your financial plan depends on your income or ability to provide for others, having appropriate protection can reduce financial vulnerability. The purpose of insurance [...]
All investments carry some level of risk, but risk can be managed — not eliminated. Ways to manage risk include: Diversifying across asset classes Avoiding concentration in a single investment [...]
Financial advice can have a mix of both one off and ongoing fees depending on the types of advice provided, for a better understanding see our fee table here.
Yes, refinancing may be available for eligible SMSF loans. Common reasons for refinancing include securing a more competitive interest rate, restructuring an existing loan, improving cash flow, or aligning the [...]
