Where should your extra savings go when you have a mortgage?

When a bank assesses your ability to repay a mortgage the assessment rate it’s higher than the actual interest rate. So for example, if your home loan interest rate is 4.00% the bank may be looking to see if you can repay 7.25% or even 8%! Now what that means for the bank, is that they are being conservative and also allowing for interest rates to rise (which […]

Read More | 22 Aug, 2018