Have you considered changing your current interest-only investment loan to a principal-and-interest investment loan?
These days you can access an interest rate as low as 3.88% PA, fixed for two years with very few conditions.
Repaying the principal may cause some cash flow issues, but there are ways to overcome these and the saving can be worth the trouble.
If you have a $600,000 investment loan and you are paying 4.6% (considered low for an investment loan), switching to a principal repayment can save you approximately $4300 per year over a fixed term.
How can YML help?
Talk to our Lending Specialists today to see how YML Group can help you plan your investment loan to put you in a better financial position over the next few years. Contact us on (02) 8383 4400 or by visiting the Contact Us page on our website.