Regional
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An entertainers dream come true 5 Nyaroo Court, Roxby Downs
RLA208715
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his recently renovated home is one of the best presented in Roxby Downs. The home features a huge master bedroom with ensuite, walk in robe and ceiling fans, as well as a further three bedrooms with ceiling fans and built in robes. The spectacular new kitchen has a stainless steel range and fridge (plumbed to mains water), plus a gorgeous servery window for outside entertaining. The home has a large for mal lounge room with a gas log ďŹ re, and lami n at e d t i m b e r oors, as well as a dining room with slate floors right through to the kitchen and hall, which helps add to the character of the home. Entertain outdoors in a tropical setting with
a built in barbecue and spa, along with a paved verandah and sparkling in-ground pool. With a double carport and garage, there is loads of parking and workshop space, as well as a lined garden shed for more storage options. All this is close to schools and shopping and is just waiting for a new family to move into and enjoy. For more information about this property call Craig Sumsion at Raine&Horne Roxby Downs on 0408 366 614.
AUSTWIDE PROPERTY SERVICE Pty Ltd.
Specialising in Property Management 4
2
Craig Sumison 0408 366 614
$569,000
Maximising Rental Returns Protecting your Property Investment EXPERIENCE
RELIABILITY
INDIVIDUAL ATTENTION STABILITY
PROMPT RESPONSE
INFORMED ADVICE
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ANNE CLAMPETT - 0425 310 585 RLA 229941
Roxby Downs 8671 3355 Shop 4/14 Tutop Street, Roxby Downs, SA 5725 RLA208715 fax: 8671 3366 email: roxby.downs@rh.com.au
Properties for Ront Sale e 3 Bedrooms 38 Hermit Street $310 p.w. 3 bdrms, enclosed backyard, garden shed - pets neg. 16 Curdimurka Street $310 p.w. 3 bdrms, enclosed yard, opp. Curdimurka Park
Can more frequent repayments see you mortgage-free sooner? How your lender calculates loan repayments can impact your repayment strategy
M
ortgage holders are often told that making more frequent repayments will help to repay a home loan sooner. However, the time it takes you to pay back the loan can ultimately come down to how your lender calculates the repayments, according to national mortgage broker, Mortgage Choice.
While most lenders offer the option to make more frequent repayments on a principal and interest home loan by way of weekly or fortnightly instalments, there are dierent ways in which lenders calculate loan repayments. It is worth noting that some methods are more beneďŹ cial than others. Mortgage Choice spokesperson, Belinda Williamson said, "It is possible for borrowers to make big savings on their home loan by making weekly or fortnightly rather than monthly loan repayments, but it really comes down to the way in which their lender calculates the repayment amount." Ms Williamson explained that some lenders calculate weekly loan repayments THE MONITOR - Your Community Newspaper
by dividing the annual repayment amount (12 x monthly repayments) by 52 weeks, which is often referred to as 'true' weekly repayments. The same principle applies to 'true' fortnightly repayments, whereby the annual repayment amount is divided by 26 fortnights. "While making 'true' weekly or fortnightly repayments will help to pay part of the principal loan amount o sooner each month and allow you to save on the interest calculated on the loan, the rewards will be minimal. This is because borrowers won't be paying any extra o the principal loan amount when compared to monthly loan repayments," said Ms Williamson. "Other lenders use a simpler method of calculating weekly or fortnightly repayments that may be more beneďŹ cial to some borrowers. That is, lenders calculate weekly or fortnightly repayments by dividing the monthly repayment by four to calculate weekly repayments or by two to calculate fortnightly repayments. "This repayment method can have a greater impact on your repayment strategy as not
only are you paying more frequently due to the varying length of months, but you also make the equivalent of one extra monthly repayment each year. "Keep in mind that this method will see you making more than two repayments during some months of the year. For this reason, it is very important to budget accordingly, and you may even consider nominating your repayment dates to suit your pay cycle. "Also note that not all lenders oer this repayment method, so it is a good idea to ask your lender or mortgage broker for details on how the repayments are calculated before committing to the loan." Ms Williamson concluded by encouraging borrowers to make savings on their home loan when possible. "Ultimately, to repay a home loan sooner, you should be aiming to pay extra into your loan or oset account, if you have one. Simply rounding up your weekly, fortnightly or monthly repayments to the nearest whole dollar could see you living mortgage-free sooner," said Ms Williamson.
www.themonitor.com.au
11 Kennebery Crescent $350 p.w. 3 bdrms, enclosed back yard, pets allowed 4/30 Burgoyne Street 3 bdrms, central location
$350 p.w.
34 Olympic Way $370 p.w. 3 bdrms, enclosed back yard, pets allowed 17 Mulgaria Crescent $395 p.w. KM[V\ KJ]Q ]XRUN]\ WN` ĂĽXX[ LX_N[RWP\ O[N\QUb YJRW]NM UR_RWP J[NJ\ 26 Alberrie Street $400 p.w. 3 bdrms, 1 bath, enclosed yard, in-ground pool
4 Bedrooms 3 Gregory Street $400 p.w. 4 bdrms, 1 bath, enclosed yard, pets neg. 57 Burgoyne Street $450 p.w. KM[V\ KJ]Q\ UR_RWP J[NJ\ PJ[JPRWP enclosed back yard 26B Quandong Street $500 p.w. 4 bdms, 2 baths, corner block, single carport 12 Mulgaria Crescent $525 p.w. KMV\ KJ]Q\ PJ[JPN YXXU _N[JWMJQ J[NJ 6 Hermit Street $550 p.w. 4 bdms, 2 baths, large pool, utility room
Property Sales Property Management For free appraisals in Roxby Downs or Andamooka, contact the team at Raine & Horne Roxby Downs on 8671 3355.
We’ll look after you rh.com.au/roxbydowns Wednesday, April 24, 2013 -- Page 7