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Welcome to Stealthy Wealth, a personal finance blog where you will find my thoughts on Investing, Cutting Costs, Financial Discipline and any other randomness that pops into my head as I aim for early retirement and financial independence in 2030 at the age of 45. You can view my progress towards this goal on the Tracker Page.

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Tuesday, 6 November 2018

Home Loan Gymnastics - How Bendy Is Your Bank?

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Which home loan providers are willing
to reduce the weight of the ball and
chain?
A few weeks back I wrote a blog post on how I managed to score R83k by sending a simple email to my bank requesting an interest rate reduction on our home loan. As expected, many of the blog's readers, being the money savvy type and not shy to hack their way to a reduced interest bill, got in on the action and contacted their home loan providers with the same request.

These reader's requests were met with varying degrees of eagerness by the banks, ranging from the banking talk equivalent of “we so glad you asked, here’s some free money ” to “kindly f-off!”