Mortgage Interest rate latest update
Homeowners on floating interest rates should quickly look to lock in fixed rates before prices move up in coming months…. click here to read more regarding this. (article supplied courtesy of Business.co.nz)
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Sentinel Lifetime Loan interest rate drops – January 2009
WOW, The Sentinel Lifetime Loan interest rate has dropped to 8.35% which is almost an all time low. there hasn’t been a better time to reconsider a Sentinel Loan as an option to improve your retirement cashflow. Rates are subject to review so check witrh us to get todays rate.
The downward interest rate has certainly proved a stimulus to rethink the recent financial doom. Many of our retired clients have rethought their priorities since the downward interest rate spiral and have focussed on looking after themselves and their ongoing health and welfare again.
You may be surprised to know the most common use of funds continues to be clearing outstanding accounts, particularly credit cards or existing mortgages, or to attend to ongoing home maintenance, especially repainting or upgrading heating systems before winter.
We would be happy to discuss your financial options if you are retired, own a home and have a need to obtain some additional cashflow. All discussions are confidential.
Check with us to get the current interest rate as all interest rates are subject to change.
Click here to email Thorners or Call Us on (04) 528 8088
Click here to view our disclosure statement.
Click here to email Thorners or Call Us on (04) 528 8088
KiwiSaver Mortgage Diversion
Thinking about whether to take advantage of the Mortgage Diversion facility available through Kiwisaver? Before making any decision, there are some things to consider.
After contributing to Kiwisaver for 12 months, you can apply for Mortgage Diversion to help pay off your home loan with a portion of your Kiwisaver contributions. If elegible, you can divert a fixed amount up to 50% of your kiwisaver contributions (from the date your Mortgage Diversion request is approved) towards your home loan. Government and Employer contributions cannot be diverted.
By doing this you will benefit from paying off your home loan faster. However, you will need to weigh this up against the fact that you’ll also be contributig less to your KiwiSaver account and, ultimately, your retirement savings.
Something else to consider is the impact on your potential matching Government contributions. You will need to meet the elegibility criteria and contribute at least $20 per week towards your Kiwisaver account after mortgage diversion payments are allocated.
From 1 November 2008, most schemes are looking to charge a $25 set up fee for mortgage diversion and this will be deducted from your Kiwisaver account on approval of your mortgage diversion request.
Click here to view our disclosure statement.
Click here to email Thorners or Call Us on (04) 528 8088
