Our team members share the aspiration to go further with EndureGo. Our cutting-edge service will deliver the following for you, whether you’re navigating your first tax refund in Australia or looking to maximise your return with expert guidance.
- Fast, instant tax return
- Better business performance through effective business coaching and advice
- Lower your interest rate to save thousands of dollars on your home loan
In the coming weeks, we will publish weekly to share with you how we can go further with EndureGo in terms of maximizing tax refunds, repaying home loans earlier, and creating more wealth through effective tax planning.
Tax specialist in Sydney and Adelaide
Go Further with a Home Loan
The first step in going further with a home loan is that we will properly review your situation before getting the home loan that is most comparable to you. We will deliver the lower interest rate to ensure that your home loan works for you, rather than you working for it. We will also review your home loan every year to ensure that your home loan stays fit and lean.
One of the tips which I would like to share with you is that, where possible, try to use principal and interest as a repayment method rather than interest only. There is not much of a difference between repaying home loans on principle and interest versus interest only. For example, for a $800,000 home loan, on a 4% interest rate, the monthly repayment on principal and interest would be $3,819, on interest only it would be $2,666, hence the difference per year would be $13,828. However, if you repaid the home loan on interest only, the total interest expense for 30 years would be $960,000; however, if you adopt the principal and interest repayment method, then the total interest would be $574,856, a saving of $385,144.00.
In this article, we’ve explained how an offset account can help you repay your home loan sooner — a smart financial move that can work hand-in-hand with strategies like maximising your tax refund in Australia.
