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The "Robin Hood" theory... is that us?

We've had a few laughs with a client this week when he remarked "so you're pretty much like Robin Hood" after we were able to negotiate a good deal with the bank - Well we wouldn't say what we do is that noble and aside from a dress up for the Rugby Sevens a few years ago we've never been Robin Hood but.... it did get us thinking about our examples of that theory and how it's a pretty simple way of explaining what we do.

The Rich

We all know the banks are not short of money, a quick google search will show some astronomical profits for most NZ banks over the last few years. So they're the rich in this situation.

The Poor

You're not poor either... but when you compare the average household income in the Waikato of around $70K with the profits of some banks in NZ being $600 million plus then we are definitely the poor ones.

The Stealing

This is the important part. Unlike the actual Robin Hood who was basically just a thug, out there committing crime and stealing from people, we're finding legitimate ways to ensure the banks are not earning any more money off you than they have to. Here are some of the ways we do that:

  • Rate discounts - We always negotiate interest rates to get the best for you

  • Cash contributions - We maximize the cash contributions the bank give you when you buy

  • Repayment plans - We help with budgeting and financial goal setting to ensure you repay your loan faster and save more interest

  • Loan Structures - By having your loan and bank accounts set up right you incur less fees and reduce overall interest cost

All of these things contribute to reducing the amount of money the bank is making from you... therefore shifting some of that wealth from them across to you. It's a lot more fun that way!

So if you're getting advice from the very people who are out to make those big profits, is it really best for you? We think you're best to have someone independent working to save you money

Remember, our service is free so it costs no more to get that great advice tailored specifically for you

If you'd like to learn more about what we do and how it works check out this article from last year.

Get in touch to see how we can help you get a better home loan. 

Adam, Claire and the My Mortgage Team


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