12 Tips On How To Pay Your Mortgage When Times Are Tough
How to pay your mortgage.
We are living in unprecedented times. History is being created all around us right now. How we respond, how we act now will determine our future.
Because of these unprecedented times our financial future also needs to be considered.
I’m going to share with you 12 tips on how to pay your mortgage when times are tough, just like what is happening right now.
Plus, I’m going to show you how you can enjoy our service for FREE.
Currently fear is crippling not only our country but also countries around the world, it’s not just the fear of the virus but the fear of the unknown. Many are concerned and confused by the enormity of this pandemic.
Borders are closing, overseas travel is restricted and many now are concerned about schools potentially closing. Major events have already been cancelled. And the list goes on.
I’m sure you have had these fear thoughts.
What if I can’t go to work because they shut the schools and I have to stay home with the kids?
What if my trade can’t work and I lose my job altogether?
What if I get the virus and I can’t work?
And the big fear “How do I still pay my mortgage?”
How to pay your mortgage
So to help you with at least one of these “fears” here are our “12 Top Tips On How To Pay Your Mortgage When Times Are Tough”:
- Talk to your bank/broker, don’t bury your head in the sand if you are struggling to pay
- Talk to your bank/broker for a reduced monthly payment for a set period of time
- Talk to your bank/broker about a potential payment break for a month or two
- Check your interest rate, there could be a lower rate available, but be careful of break fees
- Property prices in your area may have increased giving you more equity to work with
- Set up an offset account
- Even if you are locked into a fixed rate there are options to help with your cash flow
- Implement a budget straight away and work out your expenses and income, times like these call for drastic measures on your expenditure
- Look at paying just interest only for now, rather than principle and interest to help with cash flow
- Talk to a broker like ourselves to check across a whole range of lenders to find the best option for you
- If you have banked with the same bank for the last 20 years, and your mortgage is with this bank, chances are you are not on the best deal
- Don’t assume you are on the best rate in the market, the market is changing every week, get it checked, today
The most important thing to do on how to pay your mortgage
Don’t bury your head in the sand, by not talking to a bank or broker about your situation is a recipe for disaster.
Banks know and understand what is going on at the moment so they too will be preparing to help their customers.
Get Your FREE Mortgage Health Check Now.
At the end of the day, banks can only offer you what they have available through their own bank, whereas brokers, we are able to choose the best loan, interest rate or package that suits your situation by looking across over 30 different lenders.
Our Free Mortgage Health Check is for you if:
- You have a current mortgage
- You own an investment property
- You’re looking to purchase a home or investment
- You want to consolidate debt
- You want to reduce your interest rate
No matter what your situation, our lenders look at income differently and embrace the variety of income streams from self-employed to casual, contract and/or part-time.
We have lenders offering highly competitive interest rates, debt consolidation and interest minimisation strategies.
We have lenders proactively wanting to help you.
We ensure that you understand your options, so you can stop worrying about some of your financial “fears”.
To take advantage of our Free Mortgage Health Check:
07 5574 1331 or 03 9863 9997 to make an appointment today.
We want to keep yourself and ourselves safe while helping you continue to be on top of your finances so our Free Mortgage Health Check appointments will be via phone/video conference.
Now is the time for us to work together, and through us, you can become better educated, well prepared and can focus on your future, rather than being concerned with the big question of “how to pay your mortgage?”.
If you are in serious financial hardship whether you are unable to pay your mortgage, struggling to put food on the table, just can’t find a way out of debt or you need emotional financial support you can contact any of the below services for help.