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Stop DIY Disasters!

Save your home loan from these DIY mistakes!

I must admit I do love the Kiwi culture where we just love get stuck in and get things sorted ourselves. We're all guilty of it from time to time... My wife can point out a shonky BBQ table and woodshed at the back of our house which are prime examples of why it's best to leave some things to the experts.

It can be the same way with your home loan. Although unlike the shonky timber objects in my backyard it's not quite so obvious when the DIY attitude has delivered a result that is far from the best possible.

Every week I see situations where people have interest rates or a loan structure that do not fit their situation. It can cost a lot of money being on the wrong interest rate or not receiving a discount when you should be. On top of that, the gains that can be made with a loan structure that suit your personal situation can add up to a lot.

Common mistakes include...
  1. Paying the advertised floating rate - this can almost always be discounted
  2. Taking an offer from a bank just because they offer a "special" workplace package - We can often negotiate better.
  3. Taking a home loan from your current bank, just because it's "easy" - We'll do the leg work and make sure you're getting the best option. We can negotiate with your own bank as well.
  4. Paying high interest on other loans when you could borrow at home loan rates to repay these loans.
  5. Using a Revolving Credit that doesn't get you ahead, rather just keeping you in debt - We can show you a structure to make your revolving credit work for you to repay your loan faster.
Fortunately there is a simple solution to this and unlike the shonky BBQ table we can stop the bad decisions being made by providing you with specialist advice and a pre approved home loan before you purchase. If you've already got a home loan then we can review this for you and advise and negotiate on the best deal and structure for you for the future.

Reasons for dealing with a Home Loan Specialist

  1. We understand options from a number of banks, not just your current lender.
  2. We know what discounts are being given due to being on the pulse of the market 52 weeks a year.
  3. Our knowledge is on the most recent products. There are new structures and products coming out every week. If you only buy a new house every 5 years then you're left behind very quickly.
  4. We'll do the leg work. We can give you a quick review and then negotiate with banks on your behalf. Saving you a lot of time
  5. At My Mortgage - Our service is free. We'll review your home loan and provide specialist advice from an experienced Mortgage Adviser free of charge.
So don't let your new home loan or your existing home loan be sub standard. Let us find you the best options and price and a structure to suit your personal situation.

Feel free to email me personally to discuss your situation. Just click this link.

Thanks for reading, feel free to share.

Adam Thompson
Mortgage Adviser
Cambridge, Matamata, Te Awamutu, Hamilton, Auckland