Am I missing something: Bank mortgage Q

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Oct 15th 2008, 10:13 pm

#16

E3only

BE Forum Addict

Joined: Jul 2008

Location: East Bay Area

Posts: 2,192

Re: Am I missing something: Bank mortgage Q

Quote:

Originally Posted by moneypen20

But surely if you can afford to continue paying the amount you're currently paying, it's sensible to continue. That's what we used to do in the UK. Helps you pay off the loan quicker and you don't feel it.

Absolutely rright. The way I think is - any extra money I have we put it on the home loan anyway. So it's good to hve the monthly repays as low as possible. But we overpay our mortgage by ~1000+ every month anyway...

Oct 16th 2008, 3:16 am

#17

EvannTel

Devil's Advocate

Joined: Feb 2008

Location: Mandurah

Posts: 2,269

Re: Am I missing something: Bank mortgage Q

Quote:

Originally Posted by E3only

Superannuation and salary sacrifice may be a considerably more tax efficient way than simply extra repayments. Worth getting some advice on. It certainly was for me.

Oct 16th 2008, 7:28 am

#18

E3only

BE Forum Addict

Joined: Jul 2008

Location: East Bay Area

Posts: 2,192

Re: Am I missing something: Bank mortgage Q

I already have managed funds & share portfolio.

I am 27 and not thinking too ahead.I did add more money into funds managed though. The crisis means we will have substantial returns over the long term.

Hope so........