Wondering why your finance broker is contacting you after you’ve settled on your property? The simple answer is that a finance broker is with you for life.
You’ve scored the home of your dreams with the help of your finance broker, and you’ve just popped the bubbly to celebrate. Congratulations!
When the bottle’s empty and you’ve settled into your new home, you’ll notice your finance broker is still in your life, and you might wonder why – after all, they got you the loan and earned their commission. Why would they still care how you are going?
Care, of course, is what it is all about. A good finance broker does care. They know it’s a good idea to keep in touch. After all, you should be reviewing your current loan every year and your finance broker can let you know how you’re tracking along.
Building a long-term relationship with your finance broker is a good idea, as he or she will know the ins and outs of your circumstances and what you want for your future. Your finance broker will also stay on top of your account and, with expert industry knowledge, keep his or her ear to the ground for any new products or better interest rates that would benefit you.
As well as expecting to hear from your finance broker regularly, there are a few times you should contact them. This is because if your life circumstances change, it may impact your mortgage.
For example, you may be welcoming a baby into your home, you may receive a higher salary, your income may be temporarily reduced, or you may decide to get married.
Otherwise, you may want to refinance to a better a deal or consolidate your debts. You may also want to access the equity that you have accumulated in your home for a renovation, an investment or a holiday- all of which your finance broker can help you with.
We have all evidenced how fast things can change. Throughout 2021 Australia had the lowest interest rates in its history. Internationally rates were proclaimed as being at a 5,000-year low. Rapid movement in rates since then has highlighted the importance of access to ongoing expert advice.
At Integrity Finance Australia we have several clients who have been with us for more than 15 years. We have assisted them survive the global financial crisis (GFC) of 2008, and through multiple periods of increasing and decreasing rates, including to the recent record low rates (great time for fixing!) and beyond.
Even those most seasoned of borrowers benefit from staying in touch with their broker, who can assist them with lower rates, lower repayments, and better access to required funding.
And if you decide to invest in property, your finance broker can help look for investment loan options. Every bank has different calculators, guidelines, costs, and rates. Your broker will help you maximise your returns.
Life is not just a destination; it is a journey. That journey is best undertaken with roadmaps and with mentors. Those who make random and ill-informed decisions are more likely to become lost.
A good finance broker will keep in contact to assist with your map and to assist you through your journey. That is what we do.
Integrity Finance Australia has been serving the community since 2006, and our lending advice services have changed many lives for the better. If this article has prompted any questions regarding your personal circumstances please contact your broker direct, or email support@ifafinance.com.au , or call us on 03 9511 8883.
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