Confessions of a Man with a Small Toolkit

Lance confesses that, when it comes to DIY, he resorts to seeking out the expert. And he gives you full permission to do the same with your finances: pester your Velocity financial adviser every step of the way.

In my family I have one brother and two sisters, and I am the least “handy man” of all of us.

My brother, who owns a very successful plumbing firm, was concerned when he came around to my home and noticed the only things in my toolkit were a pair of scissors, a ruler and some moisturiser!  

So, of course, whenever any plumbing (or the like) was needed, I had two options: 1) Spend hours trying to figure it out myself through a minefield of trial and error and various YouTube clips. Or 2) Just go to the expert … my brother.

He would either talk me through it over the phone or come round with his massive toolkit and do it himself. Saving me the pain, the time, and ultimately the very real risk of making the problem even bigger if I had tried to do it myself.

They say it takes over 10,000 hours to become an expert at something, so it would take a lot of blocked drains and dripping taps for me to get anywhere near my brother’s expert level in plumbing. Likewise, when it comes to mortgages and financial advice we, at Velocity, are the equivalent of my brother and his toolkit. We deal with banks and legislation changes and the intricacies of mortgage applications every day.

So when should you call us?

The moment that first thought jumps into your head to purchase your first home or another property!

Why? So you can brainstorm with us to come up with some best next steps.

Our services are free to you. And they’re often accompanied with a coffee, so it’s a win-win!

Our goal is always to save you time and money. We know how the banks operate and how to find the right fit for you. Many people think a mortgage broker is only here to secure their home loan. Au contraire! We can assist, give advice, and organise anything mortgage related—be it changing the structure, negotiating new fixed rates, discounts on floating rates or changing regular repayments.

Let us at Velocity bring our toolkit and expertise to you. We’ll help get you the right loan and set the right structures in place to help see your plans realised. And, please, if you have a blocked drain, feel free to contact me about that too … I have a pair of scissors that just might do the trick … on second thoughts, I’ll pass you on to the expert for that one.

Lance Shearman is a Registered Financial Adviser with Velocity Financial. No investment decision should be taken based on the information in this blog alone. A disclosure statement is available free of charge upon request.

When Should You Contact Us?

Lance confesses that, when it comes to DIY, he resorts to seeking out the expert. And he gives you full permission to do the same with your finances: pester your Velocity financial adviser every step of the way.

In my family I have one brother and two sisters, and I am the least “handyman” of all of us.

My brother, who owns a very successful plumbing firm, was concerned when he came around to my home and noticed the only things in my toolkit were a pair of scissors, a ruler and some moisturiser!  

So, of course, whenever any plumbing (or the like) was needed, I had two options: 1) Spend hours trying to figure it out myself through a minefield of trial and era and various YouTube clips. Or 2) Just go to the expert … my brother.

He would either talk me through it over the phone or come round with his massive toolkit and do it himself. Saving me the pain, the time, and ultimately the very real risk I have of making the problem even bigger.

They say it takes over 10,000 hours to become an expert at something, so it would take a lot of blocked drains and dripping taps for me to get anywhere near my brother’s expert level in plumbing. Likewise, when it comes to mortgages and financial advice, we at Velocity, are the equivalent of my brother and his toolkit. We deal with banks and legislation changes and the intricacies of mortgage applications every day.

 So when should you call us?

 The moment that first thought jumps into your head to purchase your first home or another property!

 Why? So you can brainstorm with us to come up with some best next steps.

 Our services are free to you. And they’re often accompanied with a coffee, so it’s a win-win!

 Our goal is always to save you time and money. We know how the banks operate and how to find the right fit for you. Many people think a mortgage broker is only here to secure their home loan. Au contraire! We can assist, give advice and organise anything mortgage related—be it changing the structure, negotiating new fixed rates, discounts on floating rates or changing regular repayments.

 Let us at Velocity bring our toolkit and expertise to you. We’ll help get you the right loan and set the right structures in place to help see your plans realised. And, please, if you have a blocked drain, feel free to contact me about that too … I have a pair of scissors that just might do the trick … on second thoughts, I’ll pass you on to the expert.

 Lance Shearman is a Registered Financial Adviser with Velocity Financial. No investment decision should be taken based on the information in this blog alone. A disclosure statement is available free of charge upon request.

What Does the Bank Think of Your Student Loan?

“How does my student loan affect my ability to get a home loan from a bank? A student loan is good debt, isn’t it?” Lance lets us in on how your bank views those little (or not-so little) loans we love to forget about.

Having debt in general does not always negate your ability to receive a home loan. However, it will limit the amount you are able to borrow. If you currently have personal loans, car loans, hire purchases and so on, these can dramatically lower the amount you are able to borrow.

But not all debt is created equal and the banks see a key difference between picking up a lot of short-term “consumer” debt and a student loan. While both are a financial burden and require you to commit funds to pay them back, the student loan says to the lender that you are now reaping the benefits of that loan by working (possibly even in the same field you have spent three or more years studying). The student loan paints a trajectory of future employment and stability of income potential that banks look favourably upon.

 So a student loan has some definite positives when compared to other debt like your hire purchase on that new BMW sitting in the driveway. However, there are still calculations to be made. If you have a student loan you will (should) be paying this back, and, simply put, these student loan repayments reduce the amount of money you have each week to put towards a mortgage repayment (e.g. if you have $100 per week after costs and $10 goes towards your student loan, you then only have $90 to put on your home loan). These calculations will reflect how much the bank will loan you.

Lance Shearman is a Registered Financial Adviser with Velocity Financial. No investment decision should be taken based on the information in this blog alone. A disclosure statement is available free of charge upon request.