Money Services

There are four factors that determine the overall cost of a mortgage.

Most borrowers (and brokers for that matter) tend to only focus on one (the first one).

1. Interest rate & fees - the total fees that you are likely to pay over the term of the loan. This includes actual and prospective fees.

2. Loan structure - an incorrect loan structure can have a tremendous affect on overall cost. This cost can be a combination of increased cash flow burden, higher interest or fee and/or tax inefficiency (i.e. paying too much tax). The difference between a correct and incorrect loan structure can often be in the tens of thousands of dollars.

3. Product - such as offset, redraw, line of credit and so on. Having the right product can influence costs. Some common mistakes include paying for features you don't need, products that limit the amount you can repay and so on.

4. Service - the quality of customer service will significantly influence how much time you will need to spend dealing with your banking. A poor service platform can cost you a tremendous amount of time and therefore money.

Our job is to help you make the best, educated decision with the aim of optimising all four of the above considerations.

Contact us today, for a holistic review of your debt & mortgage finance needs