Speaking of new year’s resolutions, there’s no better time than the beginning of the year to check in with your finances. So on that note, how long has it been since you gave your mortgages a health check?
I know, it doesn’t sound very exciting – but the results can be very exciting indeed! Reviewing your home loans at least every 12 months is really important, because the home loan market is constantly changing. The product you signed up for 12 months ago may have been the best available at the time, but now, there could be better deals available – deals that could save you thousands (or even tens of thousands!) of dollars.
It shouldn’t feel like more “work”, however, which is why I’ve developed some systems and processes at Classic Finance to try and make life just a little easier for you.
At Classic Finance, our approach is very much built on relationship building, which you generally won’t get with a bank. We take our responsibility as your finance broker very seriously, which is why we make contact with our clients every year; it’s a complimentary service we offer because we have a vested interest in your financial future.
When we do this review, we won’t always recommend that you take action. For instance, if the mortgage market has changed, we could look at renegotiating your rate with the bank. We’ve done this for our clients in the past, and successfully negotiated a 0.2-0.5% interest rate discount on their behalf.
Sometimes, this is the preferred option, rather than going down the path of refinancing.
And by doing this, we could save you thousands – on a loan of $500,000, for example, a saving of 0.3% on your home loan could save you $1500 per year.
Why do we do this, when we don’t make any money out of negotiating on your behalf? We do it because we genuinely have a ‘client for life’ approach. We have a community of raving fans and we want to keep on building that.
If you’re due for a mortgage health check, give us a call on 1300 219 119 to see what we can do to help you tick off your financial goals!