Hi,
Not sure what to do. After paying our place off early a few years ago (took a 30 year loan and paid it in 10), wondering if to close the account early or not. It does have a redraw feature but don't need it.
Is there any risks in keeping the property under a "Mortgage and Broker Originator/lender?"
They have been around for a while but still not a big/known company.
When we started the loan, the interest rate was well below the big banks but today their rate is 9.47% which seems high. The loan has no ongoing fees and redraw etc but still seems odd to me being so high now.
A reason to keep it open is because I would need a place to store the mortgage papers but wondering if I'd be better just to close it.
Where do you store them?
Cheers.
Not sure what to do. After paying our place off early a few years ago (took a 30 year loan and paid it in 10), wondering if to close the account early or not. It does have a redraw feature but don't need it.
Is there any risks in keeping the property under a "Mortgage and Broker Originator/lender?"
They have been around for a while but still not a big/known company.
When we started the loan, the interest rate was well below the big banks but today their rate is 9.47% which seems high. The loan has no ongoing fees and redraw etc but still seems odd to me being so high now.
A reason to keep it open is because I would need a place to store the mortgage papers but wondering if I'd be better just to close it.
Where do you store them?
Cheers.
