At Wealth Habits we make it easier for you to acquire your mortgage application whether you are buying your new home, your investment property, and refinancing.
Taking on debt out to buy a home, upgrade to a larger home or to buy an investment property involves much more than obtaining a home loan through a bank manager or mortgage broker. We always ensure all loans taken out for our clients serves the dual process of meeting our clients’ specific needs as well as being as cost effective as possible with minimum fees and greater feature flexibility.
Debt has to be managed correctly with the proper classification and delineation between non-deductible home loans and tax deductible investment debt. Consideration needs to be given to how best to segregate this debt. Ensuring that loans has that correct tax and accounting structure can save borrowers thousands of dollars every year. Being a former accountants and tax specialists, it is an area which sets us apart from traditional mortgage broker and bank manager.
The order in which debts are paid off is critically important. Paying off your home loan first is generally the best and most tax effective strategy. However to achieve even greater cost savings we combining this strategy with other advanced cash flow strategies such as using home loan offset accounts to deposit surplus cash or “park” monthly salaries to reduce the interest charges.
Where loan are being paid off much quicker than required, or the property has increased considerably in value, there is an opportunity to use this “extra equity” to invest much sooner thereby creating further investment income to enhance wealth and pay off debts quicker. Our debt recycling strategies are ideal for those wanting to be more proactive in ongoing investments.
Where our clients want to invest to build an investment property portfolio, we plan and structure their loans into stand alone structures wherever possible and not cross-collaterised by lenders and banks to ensure that their financial position is protected as much as possible, protecting their main residence and ensuring the access and extraction of future equity is made much easier.
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