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June 2018's Property Gazette
Published by Scott Miller
Looking to buy a house? Now's good!
Climbing a steep mountain is like paying a high interest rate. The costs are higher, it’s harder work and it leaves you wishing you never started. Why would you even want to consider it at all?
Thankfully you don’t have to, as it’s never been a better time to buy. With the current flat property market here in Christchurch, combined with super low interest rates, owning your own home is a walk in the park nowadays. Home buyers are finding it easier to have their offers accepted by vendors due to fewer purchasers being around. With less competition, purchasers are also able to choose their dream property, rather than settling for second or third best.
We’re also hearing that buyers who have their finance pre-approved are continuing to find their offers much more appealing than those from buyers who require approval as a condition of their purchase. Having your mortgage sorted prior to making an offer is also something we can help you with.
A Home Loan Should Never Be Set and Forgotten
Life is like a box of chocolates. You never know what’s going to happen and how you will be affected. It’s the same with your home loan. Interest rates fluctuate, your repayments can alter, and your balance should be decreasing rather than staying static.
Your mortgage requires regular reviewing to ensure that you are paying the smallest amount of interest while building equity in your property. After all, why pay more (or climb a higher mountain) than you have to? Get in touch and let’s book a time to review your loan.
Debt Consolidation – It’s Well Worth Your Attention
Do you have the time (or inclination) to manage multiple loans? Remembering to pay them on the due date and checking you are on the best interest rates are just two of the regular jobs you’ll need to manage. Wouldn’t things be easier if you only had one loan?
Debt consolidation helps you:
- Save on fees and charges
- Secure a competitive home loan
- Reduce your monthly repayments
- Control your finances and pay off your loans sooner
We have several ways where we can help you consolidate your debt. Contact us today and let us help make managing your finances easier.
Dying is expensive.
Death, according to Wikipedia, “refers to the permanent termination of life-sustaining processes in an organism” for us all this is a soul searching stuff.
For families this can also be a financially searching time e.g. if you have a mortgage your death could throw your family into financial turmoil as well as leaving them to fork out to fund your funeral. And let’s not forget your death means your future earning ability has been totally removed as you leave your family without an income (if you’re the main breadwinner in the house).
Life insurance is a way to ensure your family has a lump sum to pay any debts and provide some financial cushioning in your absence.
Consider The Future
If you start a life policy when you are young you may benefit from setting you cover for the entire period of an average mortgage (30 yrs.) this is called a “level premium”, some insurers provide this option which means paying a higher premium when you’re younger, to avoid premium hikes when you’re older (some insurers limit the length of time over which this level premium can be paid like this).
Additional Benefits
Most Life companies offer funeral and financial planning benefits, with the funeral benefit being paid in most cases before the full policy is paid to meet the immediate need these vary from no payment up to $25k. The financial planning benefit can assist at a time when it may be difficult to have clear thinking after a loss of a loved one and the prospect of then dealing with funds from a life policy.
Life Cover Options
The most common type of life insurance is ‘Term Life’ and continues for as long as you want it to, cover can be level, or linked to the Consumer Price Index. Also, premiums can increase each year (Annually Renewable) or can be fixed for a term, e.g. 5 or 10 years, or Level to age 65 or 80.
Many life insurance policies will pay out the entire sum insured, or a portion, on the diagnosis of a terminal illness. This gives you money to live on, or pay for care if you are incapacitated and can’t work.
Plan Ahead
No matter what you do for a job, or where you are in life, there’s always a requirement to protect yourself and your loved ones. Life can change so unexpectedly – you have no idea when you’ll “need” insurance. That’s why it’s important to plan in advance.
Here at Advanced we can assist you with a plan and would welcome your call.