One thing I wish more people did before taking on a mortgage

One of the best tips I’ve picked up actually came from a client.

Before even applying for a home loan, they used an online mortgage repayment calculator, plugged in the price they thought they’d buy at in a few years, and then started saving that exact repayment amount each week.

The money came straight out of their pay into a separate savings account, just like a real mortgage would.

By the time they applied, they had a strong deposit, a proven savings habit, and confidence they could manage the repayments.

They even increased the amount whenever interest rates went up to mimic real life. Simple, but very effective.

General advice only. Based on Australian regulations.
Amy Lehmann is an Authorised Representative (No. 1292710) of Consortium Private Wealth Pty Ltd (AFS Licence 495401). #finance #financialadvice #morgage #houseloand

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Advice Disclaimer || Any advice given by the presenter/s has been prepared without considering your individual objectives, financial situation or needs. So, before you act on the advice you should think about whether the advice suits your objectives, financial situation or needs. If the advice relates to acquiring a financial product you should obtain a copy of the Product Disclosure Statement for that product and consider it before making a decision. This presentation has been prepared by Consortium Private Wealth Pty Ltd (ABN 74 616 250 965) (AFSL 495401). If you require advice which takes into account your objectives, financial situation and needs you should speak to a financial adviser.

Robert Goudie (ASIC Reg 235974), Ashley Rowan (ASIC Reg 433899), Olivia Glare (ASIC Reg 1262290), Rachael Todman (ASIC Reg 1270413) & Amy Lehmann (ASIC Reg 1292710) are Authorised Representatives of Consortium Private Wealth Pty Ltd ABN 74 616 250 965 AFS Licence 495401.