Hi. I’m hoping for some advice on my home-loan redraw facility. My contracted minimum monthly P&I repayment is stated as $686. On my last statement at the due date was “Interest $625”. Am i supposed to manually make up the difference to $686 to make my minimum repayment, before I can then make any additional payments I want in order to reduce my loan term? I guess this is simple stuff, but what gives? [blink]
That is correct.
Simon Macks
Finance Broker
[email protected]
0425 228 985Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.
ok. thanks for your reply – it’s good to have that one sorted out now!?
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