Brokernews.com.au published recently an article of the 2019 Consumer Pulse Report surveyed over 2,000 Australians to get insights into current trends and how they’re likely to play out into the future.
“According to the data, less Australians are worried about mortgage interest rate movements than in years previous. Just 7% named it as their biggest financial concern for the year ahead in 2019 as compared to 9% last year.”
“However, concern over debt as a whole has risen, with 7% naming mounting debt levels as their leading concern for the year ahead as compared to 5% in 2018.”
“Just over a quarter (26%) of Australians reported they spend more than they earn, don’t save regularly and don’t limit their debts. The average debt outside of property loans rests at $48,809.”
“The respondents communicated credit cards are their biggest downfall, giving way to ‘accidental debt’ through spending rather the considered decision of taking out a loan and, without the discipline of a fixed repayment plan, it tends to linger longer.”
New Year is a great time to learn how to manage your finance
“Buying your own home is one of the most important financial decisions you’ll ever make. Important things to consider before applying for a home loan are (1) how much do you need to save for a home loan? (2) choosing your home loan (3) check your lender is licensed, and (4) tips once you get a mortgage.” (moneysmart.gov.au)
“Before you look for a property to buy, you need to get your finances in order. Remember to consider extra costs like stamp duty, legal fees, lender’s mortgage insurance, land and water rates, home and contents insurance and repairs when working out if you can afford a home loan.” (moneysmart.gov.au)
For example, our home repayment calculator gives you an estimate of what your weekly, fortnightly, and monthly loan repayments will be. You will also see what the total interest payments are over the life of your loan including the total repayment figure.
Click here to our repayment calculator and see how much can you borrow to find out what’s possible: https://option.com.au/repayment-calculator/
Let us help you!
With interest rates at their lowest levels in decades, it pays to check whether your current home loan is still right for you. It’s a time consuming task that many people put off, even though they may have the potential to save significant amounts of money.
At Option, our primary concern is: how much money we can save you. That means we work extremely hard to make sure we find your best loan option, check on your current home loan and let you know whether you could save by switching. If you do decide to switch, we’ll do all the legwork for you to make it as easy as possible.
The cost of this consultation is 100% covered by us. Why? Because your future is important to us.
Every client we serve, we want to go above and beyond for. We want to make sure your financial future is secure – and if we do that well, you’ll be able to get your next property sooner.
How it works?
At Option Home Loans, we will meet you at a time and place that suits you. As soon as you contact us or book an appointment, one of our lending specialists will be in touch.
Make your life changing decision and contact us today!
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