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	Podcast:		NZ Guide to Financial Freedom
	Episode:		Ep 156: Mortgages - Reducing balance (non-table) loans
	Category:		Business
	Duration:		00:03:35
	Publish Date:		2021-07-06 14:00:00
	Description:		Reducing or straight line mortgages repay the same amount of principal with each repayment, but a reducing amount of interest each time. These are quite rare in New Zealand. Payments start high, but reduce (in a straight line) over time. Fees are similar to table loans. Advantages: We pay less interest overall than with a table loan because early payments include a higher repayment of principal. These may suit borrowers who expect their income to drop, for example, if one partner plans to give up work in a few years’ time. Disadvantages: If we can manage higher payments, it would be better to take a table loan with payments high for the whole term, so we pay less interest" Source: https://sorted.org.nz/guides/home-buying/mortgage-types/ Book a Free appointment with Ryan If you're wanting your question answered on the podcast email me at ryan@oneplan.co.nz, send a voice message below or capitalise on our free online tools and advice: Get A Free Book and Subscription To Ryan's Weekly Newsletter Find Ryan On Social Media Have Your Podcast and Audiobook Edited by NZ Audio Editors. Disclosure statement available on request and free of charge
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Ep 156: Mortgages - Reducing balance (non-table) loans