Join our investing community

Need some advise please!!!!!

Discussion in 'General Investing Discussion' started by jasbec, 22nd Oct, 2010.

  1. jasbec

    jasbec New Member

    Joined:
    17th Aug, 2010
    Posts:
    3
    Location:
    Stanthorpe, QLD
    Hi everyone, just after some advice on my financial situation and wondering if someone could help me make the right call.

    I have a home loan of $160000 on variable repaying $310 a week, I also have a flexi plus mortgage of $38000 repaying $125 a week.

    My question is, should I merge then together getting rid of the flexi plus mortgage and have a home loan of $198000 or should i stay the way i am?
    Making them into one would reduce my repayments a week but would i be better off.

    Please, could someone put my mind to rest.
    Thank you.
     
  2. Rod_WA

    Rod_WA Well-Known Member

    Joined:
    18th May, 2007
    Posts:
    324
    Location:
    Inglewood, WA
    Need more info to offer any guidance... what are the interest rates? loan terms / how many years left? fees on the mortgage accounts or savings accounts? PPOR or investment? same bank?

    And why would you want to reduce your repayments and not pay them off faster?