Please note that this content has been designed for informational purposes only and does not constitute individual financial advice.
During the term of your mortgage, you’ll probably experience good times and bad times economically. Currently, we’re experiencing what might be considered one of those more ‘challenging’ times. But that doesn’t mean that you throw your hands up and accept your fate.
While there’s a lot to consider when it comes time to refix your mortgage – like whether you stick with your current bank, how long you refix for, or whether you change the structure of your mortgage – it’s also worth thinking about how your mortgage could help you set yourself up for future wealth-growing opportunities. This is something an enable.me financial adviser can help you work through.
Because by paying down your mortgage debt, you’re building equity in your home. If you have enough equity in your home, you may be able to use some of that equity as a deposit on an investment property and – all things going well – you’ll be able to benefit from the capital gains of that property some years down the track.
To learn more about how to tackle your mortgage during tougher times, and the role your mortgage plays in you growing your wealth, listen to Hannah McQueen’s chat with Lloyd Burr on Lloyd Burr Live below.
Disclaimer: This blog post is for informational purposes only and does not constitute individual financial advice. If you’re interested in receiving personalised financial advice, you can book in a consultation with an enable.me coach. Costs apply.