PLAN YOUR FUTURE POOL NOW
HOW DOES IT WORK?
If you currently have a mortgage on your property, you can use the equity in your property to purchase a pool and it is an option that is a relatively simple process, and doesn't cost a huge amount extra per month.
Let’s imagine you currently have a loan of $250,000 which you have taken over 30 years. You’re currently paying 4.52% p/a in interest and you are making principal and interest repayments on the loan. Your current repayments would be $1,270 per month.
Using the same rate of 4.52% and the same loan term of 30 years, what would it cost you per month in additional repayments to purchase your new pool?
Example product used is the Commonwealth Bank Complete standard variable product: 4.52% p.a. variable rate (4.52% p.a. comparison rate). Additional fees and charges may apply. Rate is current as at 22 November 2016.
Comparison rate based on a loan of $150,000 for a term of 25 years.
* This comparison rate applies only to the example given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan.
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Peter Nest is an experienced Business Lender with over 18 years experience who has a proven track record of achievement in obtaining the best finance solutions for his clients. He has access to an extensive network of Bank, Institutional and private funding solutions. His industry knowledge and experience means he has a solution for nearly every scenario.
In recognition of his achievement Peter has been awarded Mortgage and Finance Association of Australia Finance Broker of the Year (Commercial) 5 years in a row from 2006 to 2010, and was runner up in 2011 and 2012.
Did you know that for the tiny price of a hot coffee every day, you could be living it up in your very own luxurious new pool? But that isn't all, you would also be adding considerable value to your home.