It's time for - The Police Association Victoria
It's time for - The Police Association Victoria
It's time for - The Police Association Victoria
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Five tips to manage<br />
your home loan<br />
more effectively<br />
Managing your home loan doesn’t need to<br />
be complicated. But you do need to spend<br />
some <strong>time</strong> learning about the ins and outs<br />
of your loan to make sure you’re getting<br />
the most out of it. <strong>The</strong> more you know, the<br />
better placed you are to make financial<br />
decisions. You may even be able to pay off<br />
your home loan sooner.<br />
1<br />
Take loan repayments directly<br />
from your pay<br />
Having your loan repayments deducted<br />
straight from your pay is a painless way to<br />
improve the way you manage your finances<br />
− what you don’t see you won’t miss.<br />
2 Pay more<br />
<strong>The</strong> best way to pay off your home<br />
sooner is to increase your repayments<br />
− you’ll be surprised at how this can<br />
add up. (Remember the more additional<br />
repayments you make, the more you save<br />
in the long run).<br />
> > Pay more by adding to your standard<br />
repayments each month. It can take<br />
years off your loan.<br />
> > Make a lump sum payment if you can,<br />
<strong>for</strong> example if you receive a cash bonus<br />
or a tax refund, to reduce your home loan<br />
even more.<br />
Use our calculator at www.policecredit.<br />
com.au to work out your extra repayments.<br />
(But make sure that your financial<br />
institution doesn’t charge big fees to pay<br />
off your loan early.)<br />
3 Pay often<br />
Change your repayment cycle and make<br />
payments <strong>for</strong>tnightly instead of monthly.<br />
For example, this means you make 13<br />
monthly payments a year instead of 12.<br />
4 Package it up<br />
Combine all your banking products into one<br />
package to enjoy a range of discounts and<br />
benefits. <strong>The</strong> PC Premium Home Package<br />
offers great discounts on your home/<br />
investment loan, lower insurance premiums,<br />
higher interest on your term deposits<br />
and a whole range of other benefits. Take<br />
advantage of the PC Premium Home<br />
Package by applying <strong>for</strong> a new PC home loan<br />
or moving your existing home loan to us.<br />
5<br />
Get a regular home<br />
loan health check<br />
As your lifestyle and needs change, chances<br />
are your home loan may not suit you as well<br />
as it did. Whether you are expanding your<br />
family, recently married or receiving more<br />
income it’s important to get a regular home<br />
loan health check.<br />
Would you prefer the flexibility of a variable<br />
rate or the certainty of a fixed rate? You can<br />
even have a mix of the two with a split loan.<br />
Look at the latest competitive rates on our<br />
website or talk to a PC home loan consultant<br />
today on 13 63 73 & press 4.<br />
Switch to a PC home loan today<br />
Talk to a home loan consultant.<br />
Call our Home Loan Centre on 13 63 73 &<br />
press 4 to find out more.<br />
<strong>Police</strong> <strong>Association</strong> Credit Co-operative Limited ABN 33 087 651 661 AFSL/ACL 240293 (<strong>Police</strong> Credit). PC Premium Home Package: Fees and charges apply. In<strong>for</strong>mation on<br />
terms & conditions, interest rates and fees and charges applying to our products and services is available on application or request. Credit / Loan Applications are subject to<br />
<strong>Police</strong> Credit’s credit approval criteria. Loan applicants must be over 18 years of age. <strong>Police</strong> Credit 121 Cardigan St Carlton 3053. www.policecredit.com.au<br />
<strong>The</strong> <strong>Police</strong> <strong>Association</strong> <strong>Victoria</strong> Journal May 2011<br />
23
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