Your three W’s

Establishing the three W’s (who, what, why) of life can, at times, be overwhelming. As a participant of the daily grind, pausing to re-acquaint yourself with who you are, what you want to achieve and why, helps create the foundations of life. Applying the same principles to how you bank assures you will always remain on top and in control.

It goes without saying that fruitful cashflow goes hand-in-hand with achieving goals in life, alongside vision, determination, and effective planning. What we see too often in our industry are borrowers’ vision being short sighted in regard to their mortgage and how to best utilise it to establish and achieve the who, what and why’s of their lives.

The possibilities that come with being a borrower are endless. As well as enabling you to purchase your humble abode or expand your property portfolio, your mortgage can also assist in achieving those things in life, you would perhaps go without. A restructure or refinance of your mortgage will enhance accessibility to cash flow to start that business idea, go on that holiday, complete those renovations, pay those school fees, buy that car or simply fund that hobby that makes the 9-5 grind worth it. However, most importantly it will wipe years off the life of your loan, put money in your pocket and get you closer to the dream of being debt free.

Your mortgage brokers’ role

There is a common misconception about the role Mortgage brokers play in the health of your wealth. To put it simply, you go to a GP to improve your health and a mortgage broker to improve your wealth. Just as a GP would find the best specialist to meet your health needs, brokers find you the best deal to meet your borrowing needs. The lending channel is long and vast and it’s a broker’s role to establish your needs and match you with the right product by being the go-between between you and the bank’s, comparing products and managing the application process until the end. With our service being free, we take the pain and fuss out of an otherwise gruelling process.

Facts and figures

Right now, we are in the peak of a low interest climate, impacted by the effects of the pandemic that took the world and financial market by storm in 2020. With historically low interest rates of 1.89% and the RBA’S cash rate falling to 0.1%, we are experiencing market mayhem. Subsequently, pressure has been placed on the banks to compete against each other more than ever and court potential customers.

With the record-low interest rates and cash back incentives of up to $5,000 on offer, the power is in mortgage brokers hands to pass savings on to their clients.

What does this mean

We recently sat down with a client, Greg, who unbeknownst to him had the potential to save $28,000 off his mortgage by switching products and undergoing a mortgage restructure. He came to us with his three W’s well established, however, did not know how to apply it to his wealth. After comparing various products and applying a fixed/variable rate combo on his owner occupier and investment loans, we were able to secure a refinance that meant over two years Greg would save $28,000.

Following on from a dreary year, 2021 is proving to be the igniting flame of hope and inspiration for a reshuffling of how we do life. This is having a domino effect with the customers’ coming through our door seeking to make their money work harder and smarter for them.

Is it time to reacquaint yourself with your three W’s and see how we can get you to where you want to be, faster?

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