Times are tough, but we may be able to make your mortgage better
- Collins Hume
- 3 hours ago
- 2 min read
Revamping Your Mortgage: Solutions for Tough Economic Times
Let’s face it, interest rates have risen, fuel has risen, groceries have risen — about the only thing that hasn’t gone up is your wage or business profit.
Life is getting a little tight.
We can’t fix that, but there are some simple things that we can do to help you with your loans – both home and business.
Things that we could do:
Refinance to a better rate – if you have had your loan for a couple of years you may be paying a loyalty tax (or as we often call it a 'lazy tax') to your lender. Time to stop and take the time to work with us to see if we can find a better deal for you.
Refinance to a longer term – if you are 10 years into a 30 year loan, just by extending the term you can reduce your commitments – please note that if you do this, when times get better you need to increase your repayments so you don’t end up paying more for your loan. We can run you through how this works.
Switching to interest only for a while (investment and business loans) – this would reduce your monthly repayments but, just like extending the term, you need to catch up later.
Can you do it yourself?
Sure can. But we work with over 100 lenders, many of which you may not have ever heard of or considered. And can you seriously be bothered trying to ask 10 lenders, let alone a 100?
Trust us, it will do your head in after 5 calls.
How much can you reduce your repayment? How long is a piece of string? To find out call David Seymour on 0418785747.
The above is general in nature and does not take into account your financial position, goals or objectives.
