How to improve your mortgage situation.

Is your current bank offering you the best interest rates or cash contributions?

People are using mortgage brokers more than ever before and for some very good reasons. Whether it’s for a refinance of your existing home loan, a new purchase or looking for a way to get debt free faster, a mortgage broker can save you time and money by shopping around for the best deals – and at no cost to you. Currently interest rates are at record lows and could possibly fall further – but are you getting the benefits? 

Also we always suggest you need a simple plan to pay off debt at a reasonable rate, achieve your personal goals and protect your lifestyle. In the business world, a study in 2010 showed that those who completed business plans were nearly twice as likely to successfully grow their businesses or obtain capital as those who didn’t write a plan http://smallbiztrends.com/2010/06/business-plan-success-twice-as-likely.html. 

The choice at the end of the day financially is either do it all yourself or seek help from a specialist broker who can help you plan and add value. Our services to you in this regard are completely free and no-obligation. This means that you have absolutely nothing to lose! 

What we can do for you:

• Re-finance your mortgage at terms that work better for your current situation.
• Help build a plan to pay off your mortgage quicker and achieve your financial goals.
• Obtain a new home loan at the best possible terms.
• Suggest debt reduction strategies and get the burden of debt off your back.

Need help with your mortgage? Let us know.

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Financial News Roundup October 2014

1. Some Insurers refusing payouts to injuries suffered while drunk. - NZ Herald

2. Southern Cross posts a $1 million annual loss. - NZ Herald

3. BNZ cuts its 2 year mortgage rate. - Interest.co.nz

4. Auckland house prices rise to a new record. - NZ Herald

5. Fidelity Life posts record result. - Good Returns

6. Here's how Generation Y can buy a house. - Andrew King

7. NZX 50 is weathering the financial storm. - Mark Lister

Visit us at www.sprattfinancial.co.nz 

What is Mortgage Instalment Insurance?

Most people are aware of the main types of insurance related to risk (life insurance, health insurance, income protection), but there are equally valuable but lesser known types of insurance which can be of great use in protecting your assets for a cheap price. In this case, mortgage instalment insurance can specifically cover mortgage repayments, safeguarding your home and your lifestyle in the face of unforeseen events.

- Mortgage Instalment Insurance pays your monthly mortgage repayments in the event that you become disabled due to illness or injury. Mortgage Insurance gives you four different payment period options each with different premium costs. The options are to have the insurance pay your mortgage repayments for a period of 2 years, 5 years, until the age of 65 or until the age of 70. 2 years will result in the cheapest monthly premiums, 5 years will be more expensive, and payments until the age of 65 or 70 will be the most expensive options.

- There is also an option to choose Redundancy Cover, which also covers your payments in the event that you are made redundant from your job. Redundancy cover will meet your mortgage payments for a period of six months to allow you adequate time to transition to new employment.

- Mortgage Instalment Insurance will pay 110% of your monthly mortgage repayment, calculated at the time of taking out your insurance policy. This is designed to cover any interest rate rises, as well as additional expenses such as land rates.

- If your personal circumstances or your repayment amount changes, you can contact us or your insurance provider to re-assess your cover.

- Mortgage Instalment Insurance is a more specified form of insurance that only covers mortgage repayments in the event of illness, injury or redundancy. Because of this, it is a considerably cheaper option than taking out more general lump sum insurance cover. Your home is the most important asset you have, and mortgage instalment insurance offers a simple and cost effective way to ensure your home will not slip from your hands in the event of unforeseen circumstances. We think it is well worth considering.

If you are interested in securing Mortgage Instalment Insurance or you have any further questions on if this type of cover is right for you, don't hesitate to get in contact with us anytime and secure your mortgage at the lowest possible price.

Get in contact today: enquiry@sprattfinancial.co.nz

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Your house is simply too valuable to lose.

Introduction to Our Lending Services

One of the key components of our business is the array of lending services we offer. If there's a project or a goal of yours that you require funding for, why not come to us? Our advisors have a wealth of experience from senior positions in the banking industry; specialising in both residential and commercial lending.

Our technical knowledge, coupled with our negotiating expertise, will always ensure the most beneficial conditions for our clients. You can depend on us to source and structure your loan on the most favourable possible terms to you, taking much of the legwork out of your hands.

Residential & Commercial Mortgages

Whether you’re purchasing a new property or refinancing existing assets, we can offer you competitive fees, the lowest possible interest rates and best possible loan to value ratios. When it comes time to invest in property, we can take some of the stress out of your hands and help secure the best possible deal for you.

Asset Funding

Asset funding is a type of financing where assets are converted into cash in exchange for a security interest in those assets. Spratt Financial Services provides a comprehensive array of private equity services tailored to your specific needs. Our products and services have been specifically crafted to ensure clients get the maximum possible benefit from the skills of leading investment managers.

Debt Restructuring

The debt advisory services we offer help clients to determine the best debt management strategy, select the right products and providers and do business on the best terms. Our method is to work in close partnership with clients to develop a comprehensive set of the best possible financing solutions for your debt. We then work with you to assess each option thoroughly, choosing the right option for you and then implementing the preferred resolution.


 Other services we can offer include:

• Nominee, Private & Company Funding.
• Investment Property Funding.

Email us today. 

Visit our website for more information.

 

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