Losing your job or being made redundant can be a stressful time. Not only can it affect your career, but it can affect your health and personal relationships
But when you finally find the right place, the one you know you can call home, the initial feeling of excitement turns to the realisation of the magnitude of the financial commitment you have to make.
How much can you borrow?
What are the repayments and are they affordable?
How much deposit will I need?
What happens if you get sick and can’t work? How will you make your repayments then?
Will you still be able to afford a few luxuries like holidays and new cars?
A financial planner can help you reach your goal of owning your dream home sooner by:
Budget planning and implementing a savings plans.
Calculating how much you can borrow and show the repayments required
Work out how much of a deposit is needed
Ensuring that you have appropriate insurance cover in place
Loan repayment strategies such as:
Changing payment frequencies
Utilizing offset accounts