Is a 40 years home loan a good deal?

Are the new 40 year term home loans a good idea? Of course what are you trying to achieve here is to make home loan repayments more affordable, but as everyone can guess this will come at a massive cost. These new loans come with significant conflict of interest to allow people to continue to pay for overpriced property keeping loan values up and then keeping people in debt for longer all under the smoke mirrors that they’re helping out first own buys with affordability. I’ve created a very simple calculator that can help people run the numbers before they go into debt and for those that already have a loan and would like to pay it off quicker you can get a copy of this calculator which only has a total of five inputs and can clearly show you interest saved and time save off your home loan. I’ve always wanted my clients to set the term on when their loans will be paid out and not under the banks terms. My email address is rob@consortiumpw.com.au as always This is general advice #robgoudie #financialadvice #mortgage #homeloans #investing

Disclaimer || The information provided in this post is general in nature only and does not constitute personal financial advice. Robert Goudie is an Authorised Representative (No. 235974) of AFSL 495401.