Home Loan advice

[Johnatan56]

So after 30 odd posts no one can confirm if the tiered rate is a better option in the long run

Best thing to do is ask each bank for an amortization table for the term of the loan. It will show the capital and interest components.

At the very least they should be able to tell you how much interest you will pay in total for the duration of the loan. Make your decision based on that.

Based on that, I would say tiered or not is irrelevant.

Did you read the thread?

Go to each of them and ask the overall repayment/cost over the full term, settling it early (pick e.g. 5 years early, 3 years early, etc. for what you think you can get if you do it quickly).
If they're all the same rate, go with Investec imho.

 

[xrapidx]

So after 30 odd posts no one can confirm if the tiered rate is a better option in the long run

Surely if you're paying that amount you can work it out?

It'll take five minutes in an excel spreadsheet.

Generally, if you plan on sticking to the payment schedule - the one where you pay the least over the term is the best. I.e. if the payments from the other banks are more or less per month.