Benefits of a mortgage broker

About to Re-Fix Your Loan?

Don’t just take the “Click Button” approach to re-fixing your mortgage, there could be better options out there, says Brendon. 

A month-or-so before it's time to re-fix your loan, you will receive a letter or email from your bank asking if you want to re-fix your home loan. Banks are becoming more and more aggressive in this phase and some are providing discounted interest rates on the spot. They will often give you an option to simply click a button to accept a rate and it is all done.


While this is obviously a really simple option, we strongly advise clients to talk to us before doing this.


Currently, the banks aren’t giving us the ability to click a button on your behalf if you wish to re-fix your loan through us—a form and an email trail is involved. However, what we can do is give you advice. We will review how your loan has been going over the last year and have a conversation around the next two or three years to make sure your loan is still working best for you.


On some occasions it is just a matter of accepting the best rate. However, most of the time there will be a conversation to be had around your strategy. Very often we will change the structure of your loan to meet any changes in your life situation or make some tweaks to your current mortgage.


At Velocity, our job is to give you advice and to make sure your mortgage is designed to your specific needs. We are a little disturbed that banks do not even give the pretence of offering this sort of advice at mortgage re-fix time. The bright side to this is, of course, that the value of having a good mortgage adviser to call on is given even greater emphasis.


So please, before you click that button, give us a ring so we can make sure you finish up with the best mortgage arrangement for you.


Brendon Ojala 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.

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.