As mentioned in our previous blog, owning property is one of the most effective ways of building wealth. The real value of your home lies in the equity raised and when you have raised enough equity, you have the option to access it. Here are our top ways to make the most of the equity in your home.
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Why Refinance Your Home Loan Now?
2021 is proving to be a record time for refinancing home loans in Australia. The ongoing Covid-19 lockdowns, resulting in more time at home together, have given people the opportunity to think and talk about their finances, with historically low interest rates being cited as major contributing factors to this trend.
The Seek Financial team have put together a short list of things to consider when thinking about refinancing your home loan, together with a few additional points to take into consideration during 2021.
Is Your Home Loan Still Right For You? What to consider when refinancing
If this crazy year has taught us anything, it’s how life can change and chances are that since you got your home loan, interest rates have moved. Since you took out your mortgage, your life has probably changed a little too. Your income and expenses may have changed, and your financial goals could also be different.
With the Christmas holidays just around the corner, possibly bringing with them a little down time, now could be the perfect opportunity to review your finances and think about your goals.
Tax Debt
As we are all aware, each financial year we are required to lodge a tax return. For self-employed & small business owners this can sometimes be complex & is always time consuming. Mistakes are sometimes made, or it doesn’t get completed on time which can result in a tax debt payable to the Australian Tax Office.