We all know we’ve entered a new world – so we’re not going to waste your time telling you things you already know about Earth 2.0.
Instead, we’re going to share 4 ways our team can make your life easier right now. Because we could all do with as much help as we can get, right?!
1. We can help you stay inside (and sane)
While we can’t babysit your kids so they stop fighting and/or interrupting that important call you’re trying to make in your new home office, we can reduce the number of important calls you need to make. Plus, we can also reduce the number of errands you need to run.
You might already be aware that some bank branches around the country are closing temporarily. And for the ones that are open? Well, it’s probably not a great time as a first time borrower to do the rounds and talk to a few of them, in order to compare your options.
And if you already have a loan but need to make a change, bank call centres aren’t much help at the moment. A ridiculous three hours on hold is pretty much the standard wait time at the moment (that’s enough elevator music to drive anyone crazy!). You also need to be prepared for the ‘accidental hang up’ once your call is finally answered! #twicethisweek
Now, we’re not huge fans of on-hold music either. So we’ve got a few ‘broker channel’ methods up our sleeve that – in a lot of cases – can get you the result you’re after.
Best part is, in these instances, you won’t have to deal with the lender directly at all. You can just talk to us.
2. We can help you get financially fit
We may have all stopped visiting the gym to strengthen our muscles, but there’s no reason why we can’t get to work strengthening our finances.
When was the last time you reviewed your home loan?
If it was more than a few year ago, now’s a great time because the lending landscape has seen several changes over the past 12 months – including FIVE (yes FIVE!) RBA cash rate cuts.
Providing your employment is secure, with interest rates as low as they are, there’s no better time to compare your mortgage options.
We’ve had conversations with some clients this week, who plan to use the coming year to bunker down and get ahead on their home loan.
We’re going to amplify their efforts, by assisting these clients switch to an even cheaper rate. This way, their efforts will have an even greater impact because their repayments will consist of a higher proportion of the principle and therefore they’ll pay their loan balance off even faster.
Please note this isn’t just relevant if you have a variable rate loan….
We ran figures for a client this week and it looks like they’ll be better off financially to incur break costs on their existing fixed rate loan and lock into another fixed rate loan (albeit at a much much lower rate). There’s always ways to save money on your home loan – you just need someone to show you how.
If your discretionary spending is a bit lower right now (i.e goodbye childcare fees – for now; no weekends away or big nights out) and you’re lucky enough to have the same level of income coming in, are you using your cash wisely?
If you’ve been thinking about consolidating your credit cards and personal loans into your home loan for a while now, what are you waiting for?
Let us run some figures for you – we can help you get financially fit.
3. We want to help ease the financial pressure you might be feeling
We also know that COVID-19 has impacted – and will continue to impact – many households and there are many homeowners right now worried about making ends meet.
We can relieve some of the cashflow pressure you may be experiencing, by helping to identify (and then implement) an appropriate course of action.
Some of your options might be to:
- Reduce your monthly loan repayment to the minimum
- Ask the lender for additional discretionary pricing (we’ve obtained some pretty competitive interest rate discounts for clients this week)
- Access funds in redraw
- Ensure your offset account is working properly/ rely on cash in offset to help fund repayments
- Switch to a fixed rate loan
- Switch to a lender/ loan with a cheaper rate
- Consolidate your personal debt
- Pause loan repayments or switch to I/O repayments for the short term (some lenders are considering offering this as part of their COVID-19 support measures)
Please note these actions will not be appropriate for everyone and that’s why you need to have a chat to us about it first.
4. We’re available for a chat
For many of us, this is the first time working from home; the first time we’re separated from work colleagues. As a small close-knit team, we’re feeling it too!
So, if isolation is getting you down and you just want to chat to someone friendly for a few minutes, feel free to pick up the phone and give us a call.
(We promise not to put you on hold for 3 hours!)
And if you’re not feeling inclined to call us to chat about your loans right now…. we ask you to promise one thing…..
Promise us that you will pick up the phone, if we call you!
Because if you’re an existing client and we’re reaching out to you, it’s most likely because we’ve been doing some behind-the-scenes research into your loans and we’ve found a way for you to save money!
