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Banks on a roll!

They are at it again! Yes, the banks are hungry for customers, with many being aggressive in contacting home owners trying to tempt them into refixing by offering discounted rates – the catch seems to be that these ‘special’ rates are only available for 24 – 48 hours.

Be wary of anyone being pushy and offering a time limited offer – you are the customer providing them with years of repayments – so STOP, take a deep breath and tell them you will call back later, or better still that you work through Wayne – then call us for the following very good reasons;

a) We will negotiate the best discounted rates available with your lender and know what is available from other lenders as a comparison. If the rate is not good enough we will go back and renegotiate on your behalf.

b) Always remember banking personnel work for their employer (the Bank) whereas we are working in your best interest and will advise you accordingly.

HOT TIP : You have to ask yourself – how likely am I to see this same person in 2, 3 or even 5 years time and are they really employed to look after my best interests?



Have you ever been encouraged by a bank to fix your interest rate for longer terms (3, 4 or 5 years) when interest rates are clearly moving down?

Had we been advising you, we would have suggested fixing for a shorter term – anything from 6 – 24 months instead. Once you are locked in for longer terms break costs become very expensive if you want to terminate your fixed rate contract.

When this is the largest investment you will likely make, and these calls come in, it can be tempting to just accept the interest rate offered. We know what it’s like- we all lead busy lives and can be distracted and just say yes without realising the consequences.

IMPORTANT TIP : Consider this - do they get you to confirm your requirements by email? If not, where is the documentary evidence of your request?

Again, be wary. Tell them you will call back at a more suitable time – and then call us so we can see if the hooks outweigh the catch! 07 856 2960



Waking Up to the Banking System

Banks don’t stop. In fact, they are continuously contacting (some suggest pestering) our clients who have fixed rates expiring, with offers of:
  • A specialised team – of people you know and trust?
  • Good rates – compared to?
We applaud that banks have finally realised that they serve consumers, customers and clients. However, we still need to highlight the obvious differences between what we do and what a bank simply cannot offer.
  1. We know what is available within the market – not just within a single bank
  2. We know what different offers are on the table and what will suit you. We spend time to find out what your needs are, as opposed to what we have to offer.
  3. We listen to what you need. We say what we believe, drawn from listening to your needs, coupled with our vast experience and training.
  4. We don’t focus on meeting KPI’s or Sales Targets. We look in-depth at the market’s behaviour and how different scenarios may impact you if you fix or float.
  5. We are free to you – there is no cost built into our service.
  6. We are comprehensively aware of what’s happening in both local and overseas financial markets and economies.
The reality is we give you options and financial information which provide you with knowledge!

Call the team who can help!

Wayne

PLEASE READ...
All borrowers should use the service of a mortgage adviser to ensure they obtain the best impartial advice on all aspects of their mortgage, at no cost to the client. This means you or the ones you love and care about.


Landlords being stung by banks!

LANDLORDS being STUNG by banks!

Banks are calling in loans from one property when another is sold. If you are a landlord considering selling a property to release capital, you should first be clear how much money your bank will let you keep.

If you have an “all-obligations” mortgage and a number of properties and loans, you could be seriously affected. We’ve been called a few times in the past month by some of our existing clients regarding this and are urging other people in this situation to make contact and let us check your loan documentation in order for us to assist if we can. The last thing you want is to sell an asset to release some capital and find you are left out of pocket when you need it the most. 

Lenders will often require an “all obligations” mortgage where a client owns more than one property and has several loans. They will endeavour to cross-collateralise security over all properties. This is why it is important to spread your borrowings across a number of lenders and is something often overlooked by the majority of property investors.

If you are being affected by this, call us and let us provide you with some experienced advice and support. 


Giving away FREE IPads and Wads of cash!

 

Yes the banks want business and they are changing some of the benefits and throwing in a few tempters along the way. So what can you do if you are fixed?

TALK TO US.

With a little investigation we can help you determine if the benefits you are (or in many cases – aren’t) receiving are worth your while. And yes we have gotten free iPads for clients and cash for clients - it’s all in a day’s work!

We are taking on new clients so if you know of anyone that is needing a mortgage or insurance
– get them to call us! We are able to obtain some excellent interest rate offers regardless of the extra giveaways.

*Conditions apply – not ours, the banks!


Get in touch

 

Our advice comes supported by many years in the mortgage and insurance industries. So contact us today!

0800 800 333  wayne.oliver@sharenz.com
 sarah-jane.reay@sharenz.com

07 856 2960  
07 856 2962    

This website is for general information purposes only. We encourage you to
call us or email us in confidence with specific questions.
 

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