Home finance –
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.