Now is the perfect time to reassess your finances
With record low interest rates and an unprecedented economic climate, it's never
been a better time to reassess your finances.
BrokerCo Mortgage Brokers (located in the Maroochydore Homemaker Centre) has
given us their best advice on what you can do to turn those financial dreams into a
reality, whether they include renovating the house or paying off your home loan in
Use a good broker rather than going direct to your bank
Why? Well for starters, brokers work for you! While a single bank can only offer their
set list of products, a good broker can match a client to any product at any bank to
find you the very best fit. Plus, brokers stay involved even after a loan settles,
monitoring rates and special offers for you, so you don’t have to.
Keep in mind, BrokerCo Mortgage Brokers don’t just do home loans, they do
personal loans too. Personal loans can be applied for in multiple situations and are a
quick way to give you access to the money you need. A good broker can also
organise your car finance in advance to speed up the process of buying a new car.
Control your home loan
Making a call to ask your broker for a reduced interest rate may sound all too hard,
but it’s so worth it! Reducing you rate by just 0.5% on an average $400,000 home
loan, can save you $1,300 per year.
Consider consolidating your expensive personal loans and credit cards into a home
loan. Or if you have equity in your home, withdrawing some cash to renovate can be
easier than moving.
Take advantage of COVID-19
Use this time to plan for the 12 months ahead (because who knows what they will
bring). Work to reduce and consolidate your unsecured debt such as credit cards
and personal loans during this time.
Consider Government Grants
It’s good for the construction industry and it’s good for you! If you’re planning to build,
substantially renovate or buy for the first time, look into the $25,000 Building Boost
and $15,000 First Home Owner’s Grant.
This weekend, spend a little time making a plan for your finances and arrange a time
to speak with BrokerCo Mortgage Brokers (located in the Maroochydore Homemaker
Centre) for any additional advice.