The Wealth Builder Loan is offered at a very low variable interest rate available to you if you’re looking to purchase an investment property or refinance from an existing one. However, you must have at least a 20 per cent deposit on your property in order to qualify for this loan.
Starting with the very low variable rate, you can reduce the amount you have to pay in interest even further through steady use of the offered 100 per cent offset account.
The balance you keep in this account offsets your interest with the difference of your loan balance – harnessing the interest on your savings to reduce the interest payable on your home loan.
The ability to make early repayments also helps to reduce the total amount you have to pay since you can repay your loan sooner and shave months and even years’ worth of interest repayments by doing so.
Another feature of the Wealth Builder Loan is the automatic salary reduction through which you can authorise your loan repayments to be deducted automatically from your salary – an option that can help you to manage your finances.
The Wealth Builder Loan is available to investors with a large deposit saved up. If you are looking for a simple variable rate loan that offers a few methods to reduce your debt sooner and get ahead on your repayments, then this could be a suitable option.
Deducting your loan repayments from your salary is an option that may appeal to disciplined money managers who appreciate the ease and convenience of transacting mostly online and via phone.
MOVE Bank’s Wealth Builder Loan comes with some impressive features, which together, can help you pay off your investment loan early.
As always, take a close look at your needs and what you’re looking to get out of your loan in order to determine if the Wealth Builder Loan can move you closer to your goals. More information is provided below about the Wealth Builder Loan from MOVE Bank.
More information is provided below about the Wealth Builder Loan from MOVE Bank.