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ƌŵĞĚ ǁŝƚŚ ƚŚĞ ŬŶŽǁůĞĚŐĞ ƚŚĂƚ ĞǀĞƌLJ Ψϭ ǁĞ ƐĂǀĞ ŝŶ ŝŶƚĞƌĞƐƚ ŝƐ Ψϭ ƚŚĂƚ ŐŽĞƐ
Žī ƚŚĞ ůŽĂŶ ďĂůĂŶĐĞ ;ĂŶĚ ŝƐ ĂŶŽƚŚĞƌ Ψϭ ŽŶ ǁŚŝĐŚ LJŽƵ ĂƌĞŶ͛ƚ ƉĂLJŝŶŐ ŝŶƚĞƌĞƐƚ ʹ
ƚŚĞ ĐŽŵƉŽƵŶĚŝŶŐ ĞīĞĐƚͿ͕ ƉĂLJŝŶŐ Žī ƚŚĞ ŵŽƌƚŐĂŐĞ ƋƵŝĐŬůLJ ŝƐ Ăůů ĂďŽƵƚ ĮŶĚŝŶŐ
ǁĂLJƐ ƚŽ ƐĂǀĞ ĂƐ ŵƵĐŚ ŝŶƚĞƌĞƐƚ ĂƐ ƉŽƐƐŝďůĞ͘
^ƚƌĂƚĞŐŝĞƐ ĨŽƌ ƐĂǀŝŶŐ ŽŶ ŝŶƚĞƌĞƐƚ
dŚĞ ĨŽůůŽǁŝŶŐ ƐƚƌĂƚĞŐŝĞƐ ĂƌĞ ƐŝŵƉůĞ ďƵƚ ĞīĞĐƟǀĞ ǁĂLJƐ ŽĨ ƐĂǀŝŶŐ ŝŶƚĞƌĞƐƚ ƐŽ
ŵŽƌĞ ŽĨ LJŽƵƌ WΘ/ ƌĞƉĂLJŵĞŶƚ ŐŽĞƐ ƚŽ ƉƌŝŶĐŝƉĂů ĂŶĚ ůĞƐƐ ƚŽ ƚŚĞ ďĂŶŬ͘
• /ŶĐƌĞĂƐĞ ƚŚĞ ĨƌĞƋƵĞŶĐLJ ŽĨ LJŽƵƌ ůŽĂŶ ƌĞƉĂLJŵĞŶƚƐ
/Ĩ LJŽƵƌ ůŽĂŶ ŝƐ ŽŶ Ă WΘ/ ƌĞƉĂLJŵĞŶƚ͕ LJŽƵƌ ďĂŶŬ ǁŽƵůĚ ŚĂǀĞ ƐĞƚ ƵƉ
Ă ĚŝƌĞĐƚ ĚĞďŝƚ ƚŚĂƚ ĂƵƚŽŵĂƟĐĂůůLJ ƚƌĂŶƐĨĞƌƐ ŵŽŶĞLJ ŝŶƚŽ LJŽƵƌ ůŽĂŶ
ĂĐĐŽƵŶƚ ŽŶ ƚŚĞ ƐĂŵĞ ĚĂLJ ĞĂĐŚ ŵŽŶƚŚ͘ dŚĞƌĞ ŝƐ Ă ůŝƩůĞ ƚƌŝĐŬ ƚŚĂƚ LJŽƵ
can use to increase the amount you are paying back throughout the
LJĞĂƌ ǁŚŝůĞ ƐƟůů ŚĂǀŝŶŐ ĞǀĞƌLJƚŚŝŶŐ ŽŶ ĂƵƚŽƉŝůŽƚ ʹ ďƌĞĂŬ LJŽƵƌ ŵŽŶƚŚůLJ
repayments in half and have them debited every fortnight instead.
ĞĐĂƵƐĞ ƚŚĞƌĞ ĂƌĞ Ϯϲ ĨŽƌƚŶŝŐŚƚƐ ŝŶ Ă LJĞĂƌ͕ LJŽƵ ĞŶĚ ƵƉ ŵĂŬŝŶŐ ϭϯ
monthly repayments instead of the usual 12. You can even opt for
ǁĞĞŬůLJ ƌĞƉĂLJŵĞŶƚƐ ƐŽ LJŽƵ ŚĂǀĞ LJŽƵ ϱϮ ƉĂLJŵĞŶƚƐ ŝŶ ƚŚĞ LJĞĂƌ͘ tŚŝůĞ
ƚŚŝƐ ŵŝŐŚƚ ŶŽƚ ƐŽƵŶĚ ůŝŬĞ ŵƵĐŚ͕ ŝƚ ůĞĂĚƐ ƚŽ ŵĂƐƐŝǀĞ ƐĂǀŝŶŐƐ ŝŶ ƚŚĞ ůŽŶŐ
term.
Case study:
:ĂƐŽŶ ďĞŐĂŶ ǁŝƚŚ Ă ΨϱϬϬ͕ϬϬϬ ŵŽƌƚŐĂŐĞ ǁŝƚŚ Ă ůŝĨĞƐƉĂŶ ŽĨ ϯϬ LJĞĂƌƐ ĂŶĚ ĂŶ
ŝŶƚĞƌĞƐƚ ƌĂƚĞ ŽĨ ϯ͘ϱй͘ EŽƌŵĂů ŵŽŶƚŚůLJ ƌĞƉĂLJŵĞŶƚƐ ŽŶ ƚŚŝƐ ůŽĂŶ ǁŽƵůĚ ďĞ
ΨϮ͕Ϯϰϱ Ă ŵŽŶƚŚ ;Žƌ ΨϮϲ͕ϵϰϬ ƉĞƌ LJĞĂƌͿ͘ ^ŝŵƉůLJ ďLJ ƐƉůŝƫŶŐ ŚŝƐ ƌĞƉĂLJŵĞŶƚƐ
ŝŶ ŚĂůĨ ĂŶĚ ƉĂLJŝŶŐ Ψϭ͕ϭϮϮ͘ϱϬ ĨŽƌƚŶŝŐŚƚůLJ͕ :ĂƐŽŶ ǁŝůů ƌĞĚƵĐĞ ƚŚĞ ƚĞƌŵ ŽĨ ƚŚĞ
ůŽĂŶ ďLJ ƚŚƌĞĞ LJĞĂƌƐ ĂŶĚ ŶŝŶĞ ŵŽŶƚŚƐ ĂŶĚ ƐĂǀĞ ũƵƐƚ ƵŶĚĞƌ Ψϰϴ͕ϬϬϬ ŝŶ ŝŶƚĞƌĞƐƚ
charges.
:ĂƐŽŶ͛Ɛ ŶĞǁ ƉĂLJŵĞŶƚ ŽĨ Ψϭ͕ϭϮϮ͘ϱϬ Ă ĨŽƌƚŶŝŐŚƚ ŵĂŬĞƐ ŶŽ ĚŝīĞƌĞŶĐĞ ƚŽ :ĂƐŽŶ
as he ŝƐ ƉĂŝĚ ĨŽƌƚŶŝŐŚƚůLJ ĂŶLJǁĂLJ͘ ,ŽǁĞǀĞƌ͕ :ĂƐŽŶ͛Ɛ ƚŽƚĂů LJĞĂƌůLJ ƉĂLJŵĞŶƚ ŶŽǁ
ĞƋƵĂůƐ ΨϮϵ͕ϭϴϱ ;Ψϭ͕ϭϮϮ͘ϱϬ dž ϮϲͿ͕ ΨϮ͕Ϯϰϱ ĞdžƚƌĂ a LJĞĂƌ ƚŚĂŶ :ĂƐŽŶ ǁĂƐ ŵĂŬŝŶŐ
ǁŚĞŶ ƉĂLJŝŶŐ ŵŽŶƚŚůLJ͘
Note: The lender’s goal is to gain as much interest from you over
ƚŚĞ ůŽĂŶ ƚĞƌŵ ĂƐ ƚŚĞLJ ĐĂŶ͘ &Žƌ ƚŚŝƐ ƌĞĂƐŽŶ͕ ƐŽŵĞ ůĞŶĚĞƌƐ ŚĂǀĞ
ĐŽƩŽŶĞĚ ŽŶ ƚŽ ƚŚŝƐ ŚĂĐŬ ĂŶĚ ŚĂǀĞ ŶŽǁ ĐŚĂŶŐĞĚ ŚŽǁ ƚŚĞLJ ĐĂůĐƵůĂƚĞ
ŵŝŶŝŵƵŵ ǁĞĞŬůLJ ĂŶĚ ĨŽƌƚŶŝŐŚƚůLJ ƌĞƉĂLJŵĞŶƚƐ ƚŽ ĞŶƐƵƌĞ LJŽƵ ĚŽ ŶŽƚ
͞ĂĐĐŝĚĞŶƚĂůůLJ͟ ĞŶĚ ƵƉ ƉĂLJŝŶŐ LJŽƵƌ ŵŽƌƚŐĂŐĞ Žī ƋƵŝĐŬĞƌ͘
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