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Redraw Facility
This loan allows you to put additional funds into the loan in order to bring down the principal
amount and reduce interest charges, plus it gives the option to redraw the additional funds
you put in at any time. Simply put, rather than earning (taxable) interest from your savings,
putting your savings into the loan saves you money on your interest charges and helps you
pay off your loan faster. Meanwhile, you are still saving for the future.
This type of facility is ideal for borrowers who can put away that little extra each month and still would like the flexibility to be able to redraw that extra money if need be. Some lenders may charge a minimal fee if you choose to redraw. For more details contact us.
Interested in a home loan with a Redraw Facility? Click Here. |
