Author Topic: Is it worth having redrawn on the Home Loan?  (Read 712 times)

brownr72

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Is it worth having redrawn on the Home Loan?
« on: Dec 23, 2010, 09:15:02 AM »
Just wanting other peoples opinions on redraw.

Do you think its worth having redraw on your home loan? Or do you think itsbetter to not have redraw as it will bring the amount of your loan down faster?



 

James Falla

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Re: Is it worth having redrawn on the Home Loan?
« Reply #1 on: Dec 23, 2010, 04:34:28 PM »
Hi Brown72
 
In the UK we call this a together mortgage. You can pay off additional amount of your mortgage with savings but then withdraw these amounts again if you need them. It can be a good idea to have this facility if you are good at managing your money.
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