Freehold Express

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JimmyC

672 posts

Ultimate Geek
+1 received by user: 67

Topic # 172148 13-May-2015 09:16

They claim to substantially reduce mortgage repayment times saving thousands in interest along the way, and not necessarily by using a revolving credit setup.

I created an account via their website a couple of months back and they promptly sent my password back to me in a follow up email. I hadn't filled out my financial details at that stage, but that lead to a very brief and fraught email conversation with a member of their support team who tried to assure me my information was secure. I pointed out that it can't be secure if you leave the keys to it lying around the place, but that message wasn't getting through. Instead I was told their customers preferred the ease of being able to have their password emailed to them when they forgot it. After a second attempt trying to explain the flaws in that plan, he deleted my account to assuage my concerns...

Anyway, has anyone utilised their services?

heylinb4nz

659 posts

Ultimate Geek
+1 received by user: 144
Inactive user

Reply # 1304560 13-May-2015 14:55

Ill chime in as someone who is $10k away from being Freehold and under 40.

A quick read of that guys website put me off, I almost guarantee in 15 years you'll forget the $100 you spent on the "the plan" or whatever he is charging for his plan whether you are mortgage free or not...15 years is a long time....circumstances do and will change

In reality (and having fast tracked my own mortgage) the only ways are

a) get a higher income
b) reducing your expenses
c) know when to fix and how long
d) know how much to float at a time
e) structuring your accounts
f) making bulk payments at regular intervals between fixing (and also onto your floating)
g) use credit cards to your advantage (defer interest, get airpoints \ rewards)
h) make extra cash where you can
i) DISCIPLINE and FOCUS

These are no secret, but it varies for each person based on loan amount, bank, income, expenses, personal lifestyle. Id be happy to elaborate on them based on your circumstance if you wanted some advice.

JimmyC

672 posts

Ultimate Geek
+1 received by user: 67

Reply # 1304892 14-May-2015 08:32

I'm aware of the 'best practice' principles, was curious as to what their angle was over and above that, and how they commoditise it for their benefit.

khull

1245 posts

Uber Geek
+1 received by user: 137

Reply # 1304900 14-May-2015 09:06

If you are the sort of person that thinks along the lines of 'I want to pay off the student loan first' then perhaps you services like these might help.

Otherwise, it is a high chance you already understand the principle of zero vs compounded interest, time value of money, blended rates etc - it is just execution and discipline that just needs to be established. You don't need another person to do that for you.