Get the insider’s edge with these loan facts
When people mention the financial stress of upcoming holidays, starting a family or credit card debts, they’re often surprised when I tell them I can help. But as a mortgage adviser I can do more than get you a great home loan. Here are some less obvious ways I might be able to support you in achieving your financial goals.
I can help you pay off your bad debts faster
There are good debts and bad debts. A mortgage can provide long term capital growth but credit card, car and personal loan debts often have high interest rates and should be paid off as a priority. Additional to the high interest you’re paying, multiple debts can be stressful to manage.
If you’re juggling various repayments each month get it touch so we can see if loan consolidation is an option for you. By consolidating debts with your mortgage you’ll have only one repayment each month and will likely secure a more competitive interest rate which could mean you save money and pay off your debt faster.
Are you sitting on funds you could be investing?
A strong property market can benefit you even if you’re not thinking of selling. Do you know how much equity is in your home or investment property? If you’ve been paying off your mortgage for years you might be able to use the equity to invest.
Many of my clients don’t realise that investing in property is an option for them. Purchasing your first property usually requires saving a significant deposit but a second property won’t always need one. This is because the difference between your loan amount and property value increases over time, thus creating equity. This equity provides a source of funds that you can use to invest in another property or to renovate your home, buy a new car, or invest in shares, a business or superannuation.
Do you want consistency? Locking in fixed rates doesn’t need to be tricky.
There are some very competitive fixed rates to be had so contact me if you’re looking for repayment consistency. Most lenders can easily fix your existing home loan rate and fixing will take the worry out of your monthly repayments changing over time. Best of all I’ll do the legwork for you.
Need a mortgage holiday?
Sometimes we need a break from mortgage repayments. If you’re thinking of starting a family or are in between jobs we can arrange for you to take a mortgage holiday. For a period of three months you won’t have to make any repayments and the interest will be loaded onto the loan balance each month. At the end of the term you just start making payments again as normal. Yes, this will increase the interest you pay over the life of your loan but it can help take the pressure off if you’re depending on only one income for a period of time.