We love helping people buy their first home, next home, or investment property that will set them up for the future. But while finding finance is a core part of the service we give our mortgage clients, we provide other important financial advice and support. A mortgage broker is an essential source of knowledge and support throughout the decades of your mortgage.
You know us as mortgage brokers, but we are actually financial advisers. A financial adviser that solely specialises in lending is called a mortgage adviser. But hey, it is not about the label! We still use the term mortgage broker in our articles as it’s the term many people still use when searching for information.
So, what are we good for?
Mortgage advisers help you access funds
When getting a mortgage, an adviser does more than find a bank willing to lend you money. The adviser will find a lender that best suits your needs and negotiate rates and cash-back bonuses.
As well as helping you get a great mortgage option each time you purchase a property, a mortgage adviser can also help you withdraw equity from your current mortgage when needed. It could be to pay for renovations or a vehicle, fund a business or some other significant one-off expense. While we encourage clients to use this option wisely – you’ll be paying interest on the money after all – it can be the right option for some.
Mortgage advisers get your mortgage structured right
A good mortgage broker will help you structure your mortgage based on your spending habits and goals. This means anything from having a revolving credit or an offset account to reducing the overall term of your loan (saving you a lot of interest in the long run) to protecting you from interest rate shock.
Your mortgage broker should be able to talk to you about what’s happening in the market and use their knowledge and experience to make educated predictions. At Building on Basics, we’re constantly talking and working with experts, lenders and economists and researching what is happening in the local and global markets. This insight can be considered when deciding how much to fix and how long. Of course, no one can see the future, and the last couple of years especially have driven this point home! But it does mean you can make informed choices based on expert knowledge and advice.
You could get the money yourself, most likely from your current bank. But that doesn’t mean that you should! Matching a lender to your money habits is critical to your success and your ability to pay the debt off quickly, debt off quickly, ultimately saving you money.
Mortgage advisers are there when things change
Life isn’t static. We all go through big events and changes throughout the years, some good, some bad. As life happens, your mortgage may need to change. A pay rise may mean you can up your payments, or a new job with a bonus structure could mean you need a mortgage structure that allows you to make large one-off extra payments.
On the flip side, a reduction in income due to anything from maternity/paternity leave to redundancy or change in health may mean your mortgage needs to be restructured to allow for smaller payments over a longer term. The lender that served you when you made your initial purchase may or may not now be the best option for you.
Building on Basics focuses on building solid and lasting relationships with clients. It gives us so much joy connecting with clients throughout the ages and stages of life and homeownership, seeing our purpose fulfilled as they progress towards owning a home freehold, buying an investment property, or perhaps getting a bach to make some great memories.
We look at more than just your mortgage; we take the time to understand your big picture. We analyse your risk to ensure you can afford the loan and teach you how to manage your debt. We help you fit this with your life and retirement plans; the result is a pathway to get you where you want to go.
Whatever your stage or circumstance, we’re here if you need support with your mortgage and finance. Book a time online, call 029 973 7911 or email elise@bob.kiwi.nz.