I work with a lot of people that have come to us for some help and guidance with what to do with their mortgage. Mortgage repayments are usually the biggest expense in any household. A common theme that I’ve noticed is people are concerned about making repayments as manageable and comfortable as possible, because let’s be honest, the changes people are seeing in repayment amounts can be really scary. I recently had some clients who’s mortgage repayments were set to go up by over $300 per fortnight. After going through their situation, we were able to create some good options. We secured them the best interest rate and structured it in a way that made the increase in interest rate a bit less painful.
A good mate of mine was talking about his lending over the weekend and he was saying about how it was going to hurt when they have to increase their repayments in the new year because of the higher interest rates they were facing. I told him that now is the time to get started and to have a solid plan in place. We talked it over and made a plan for how we are going to make sure that they get the best options on the table and secure the best deal. There’s a fair bit of work that needs to be done and timing is everything, it’s so critical these days but because we’ve started the conversation now and not in January, we can make sure they get it right. It’s all about having the options on the table and the more proactive you are, the more options you will have to choose from.
The key messages I want you to understand are: timing is everything right now, along with getting the right advice and having a solid plan in place. For my mate it will likely mean they will be able to absorb the repayment increases they were expecting. They will save some significant money on interest repaid and have a good strategy for the future. Getting it right now will make a big difference in the coming years.
There really are a lot of options available right now and a lot of people would not even realise that some of them are even a possibility, or even an option. This is where having a specialist who deals with mortgages day-in day-out, and understands your options is such a huge advantage. It could not only save you money, but more importantly, make sure that your repayments are manageable for the future. We can help with this so get in touch and start the conversation now!
Recent Comments