Taking out a home loan is a massive undertaking – quite possibly the biggest financial decision of your life. However, for some reason, once people have completed their purchase and settled in to their new home, they never consider their loan again.
Why not? A home loan is most definitely NOT a “set and forget” scenario.
Over the life of your home loan, your financial circumstances are likely to change several times and the amount of money potentially available to service your home loan will vary.
If you've had your home loan for more than 18 months, there is a distinct possibility that the level of your family income may have changed.
· There has been a promotion or change in employment and the overall level of income has increased.
· There has been an addition to the family and an income has decreased (or disappeared) for a while.
Besides major changes to your financial circumstances, other possible reasons for a home loan review are:
· Renovate your house.
· Utilise equity for investment purposes.
· Take advantage of a lower interest rate offer.
As the title of this Blog asks, you service your car regularly, so why not your home loan?
Telephone or email me now
Mark Hevron 0418 915 920
to arrange a time to review your home loan at a time and place convenient for you.
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