What is a revolving credit facility? And how do I use it to repay my mortgage faster?

Описание: This weeks two minute Tuesday is all about how to repay your mortgage faster and one way of doing it is by using the bank's product called a revolving credit facility.

In this video, I'll break down what is it, why you should consider using it, what are the pros and cons of having a revolving credit facility and how you really speed up repaying your mortgage fast!

So the key thing with a revolving credit facility is that you can make bulk repayments and not be charged for and also have the ability to redraw should you need it in an emergency! However, the interest rate is slightly higher than a fixed term loan.

Check out the video for more information and thanks for watching!
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Or check out my website here and my many blogs about other tips on home loans, first home buyers grant and investing in property

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The information in this video is provided for information purposes only, is intended to be general in nature and does not take into account any recipient’s financial situation or goals, and is not personalised advice. Please seek independent professional advice from your financial adviser.