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WITH the re­cent in­creases in in­ter­est rates, now, more than ever is the per­fect time to re­view your fi­nances.

Gen­eral man­ager of Fi­nance Mu­tual Aus­tralia Steve Aspinall says it is in­ter­est­ing to note that peo­ple seem to spend more time re­search­ing their an­nual hol­i­day to get the best pos­si­ble deal, than they do en­sur­ing their home loan is the best op­tion for them.

‘‘This is where a fi­nance bro­ker can be of great value,’’ he says.

‘‘With a vast ar­ray of lenders’ prod­ucts avail­able, a bro­ker is able to quickly an­a­lyse many op­tions, struc­tures and terms to de­ter­mine the most suit­able for you.’’

Mr Aspinall says this may mean looking at all your fi­nance ar­range­ments to see whether you might ben­e­fit by con­sol­i­dat­ing high-cost loans, or to stream­line your pay­ments, and even re­duce your monthly com­mit­ment.

‘‘Many peo­ple per­ceive that a bro­ker’s pri­mary role is to shop the best prod­uct or in­ter­est rate,’’ he says. ‘‘How­ever, good fi­nance bro­kers pro­vide a more holis­tic ap­proach to their clients. Not all lenders and prod­ucts are the same and an ex­pe­ri­enced bro­ker will have a strong un­der­stand­ing of where they dif­fer and how the terms and con­di­tions of a prod­uct will best suit their clients’ needs now and go­ing for­ward.

‘‘It may be a rec­om­men­da­tion based on rates and fees or per­haps a prod­uct niche. It may even be re­lated to lend­ing pol­icy which might af­fect, for ex­am­ple, how much you can bor­row.’’

Fi­nance Mu­tual Aus­tralia CEO Ja­son Di Iulio says it is all about trust and re­la­tion­ships.

‘‘We started out in 1998 and most of our clients that we have as­sisted over the years are still with us to­day,’’ he says. ‘‘ Ev­ery time they have a fi­nanc­ing need they give one of our ex­pe­ri­enced bro­kers a call, con­fi­dent they will be pro­vided with the most suit­able so­lu­tion.

‘‘As many of our clients have grown so too have their fi­nan­cial ar­range­ments. They may have a num­ber of loans for their prop­erty port­fo­lio, or ve­hi­cle and equip­ment fi­nanc­ing and we may have ar­ranged th­ese loans with a num­ber of dif­fer­ent lenders. ’’

The Fi­nance Mu­tual Aus­tralia team, Ja­son Di Iulio, Ge­off Cleggett, Steve Aspinall and An­gelo Chi­u­chi­olo.

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