TONI DAWSON, a fully qualified Mortgage Advisor, with more than 15 years’ industry experience, shares her expertise.
As a mortgage adviser, I aim to offer loan strategies and structures that are right for your situation.
And everyone’s situation is different. I never adopt a ‘one size fits all’ approach.
If you own multiple properties and/or have business lending, one such strategy we might consider is split banking.
That’s where your lending is spread across two or more banks or lenders, rather than relying on just one.
In the right situation, using different lenders can help reduce your financial risk.
Just like you don’t put all your investment eggs in one basket, we spread your borrowing risk across multiple lenders.
It can make you less susceptible to any one bank’s change in policies, lending criteria, products or pricing. It can give you more flexibility and access to better offers.
Meanwhile, the Reserve Bank’s Monetary Policy Committee published its Monetary Policy Statement on August 20, which includes any changes to the Official Cash Rate (OCR).
As many commentators and economists anticipated, there was a 0.25 per cent decrease to 3 per cent last week.
On July 9, the Reserve Bank held the OCR at 3.25 per cent. Twelve months ago the OCR was 5.25 per cent.
- Toni Dawson, NZCFS Level 5, BBS, GradDipBusStuds (Personal Financial Planning) FSP1000506, phone 027 646 9269, at 38A Wakelin Road, Beachlands 2018.
