Dear Diary...

We just had some come off 3 years at 6.19% so we are at least 1300/mth better off on those loans now. I have also just hit up our banker guy for an extra 0.3% off our rate. We are currently getting 1% off SVR but after reading the other threads I am pushing harder.
 
We just had some come off 3 years at 6.19% so we are at least 1300/mth better off on those loans now. I have also just hit up our banker guy for an extra 0.3% off our rate. We are currently getting 1% off SVR but after reading the other threads I am pushing harder.

Well done Joan!
 
Yep.

I listened to Dad's suggestion (good advice if you are super conservative and not planning on building a portfolio). I should have seen a mortgage broker but I was naive and didn't know the myriad benefits of doing so.

I copped a fat break fee and paid way above SVR interest for almost 3 years (total ?unnecessary? cost was about $44k I think) but I'm up a few hundred grand thanks to the investment properties I was able to pick up in the wake of breaking the loan and switching to interest only repayments. Well worth it.

Oh, and I negotiated a 0.33% rate discount with the lender for the life of the loan to soften the blow of the break fee.

I am so impressed with this post. Shows it doesnt matter if you make a boo boo, you can always improve and profit from any situation. Great perseverance, response, and mindset to move past that Richard!
 
I am so impressed with this post. Shows it doesnt matter if you make a boo boo, you can always improve and profit from any situation. Great perseverance, response, and mindset to move past that Richard!

I learned plenty from that one but more importantly, as you identified, underwent a significant shift in mindset. I view everything through the lens of opportunity--not cost--now.

That change in thinking has flowed deep into other areas of my life. I was previously very reluctant to "spend" money on things like self education, professional advice etc.


Without a number of forum members providing me information and making the opportunity cost clear to me (both in forum posts and in the chat room), I may never have untangled that one so I really have to send out a huge thanks to everyone involved in that shift in thinking.
 
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