Does Your Mortgage Broker Call you a Financial Hero?

Please let's welcome him and we're really interested to see your presentation. Thanks.

Thank you. So I just want to be able to. Have you got your host rights. Aaron too. You're good.

He does.

I'm going to stop sharing this one. Then you stop sharing. Let me share. I'll share with you, Aaron. How about that? All right, everyone see my screen? We can. We're good.

Yep, we're good.

Okay. So my name is Aaron Whitebrow. I run a small, well, not small, but a mortgage broking firm called Diagnostics and Finance. I'm also teamed with the Hills Money Group as the head market mortgage broker there which also provides speed, synergy and a one stop shop you could say to get everything addressed. So today as a mortgage broker, I wanted to talk about what type of financial legend you are. My vision with the business is that we change lives by untangling finance to draw out the financial legend within. And my team has grown this year. You can see a picture, my profile picture for my Facebook and some marketing down there with a fantastic photo from obviously our one and only Melinda with me throwing some money around with my bagpipes. And I can be found on Google and Facebook as bagpipingmortgagebroker. And my colleague Karina, she is the hashtag flexiblemortgagebroker. And that brings the dynamic of personality into what we do in our business. So let's jump in. Financial legend. So are you a financial legend? Rhetorical question there. So first one is, are you stuck? Are you struggling to keep your head out of water? For example, is everything that you do in life with money dependent on you? If your loss of income, would that just change everything without any options? Are you reliance on the government? Would you have a lifestyle change when you've gone to your current bank, they have said you can't do anything, you can't borrow any more money, you can't debt consolidate. You can't, can't, can't, can't. So in these situations, coming to a mortgage broker allows you to go down the line of seeing if you can do some debt consolidation, some preparation in your areas, maybe put some things into one payment or another payment arrangement. You're able to maybe move your direct debits onto one day instead of having them all on many days. So are you stuck? That's one type of, maybe not a financial legend, but one type of legend. There's, there's another group of people that we have that we have all over the place. These people all over the place they may have multiple, multiple credit. They may have direct debits on more like say they got 30 direct debits, which is not too uncommon for a business owner or a personal person to have. So they're once per day and the second day and the third day, so on through the month they're going to have all these direct debits coming out and they may not know what is going on with their financial picture. They may have done some debt consolidation in the past and they've now taken their car, which probably should be paid off in four to five years, and they put it into the mortgage and now they're paying their car off over 30 years. They may have taken a holiday on borrowed money and now they put that into the home loan and, and they've taken that over 30 years as well, which is probably not worth much at the end of a 30 year term. Another aspect of these people that have it all over the place is that right now on your credit file, if you miss your payment over the grace period of your mortgage, a credit card, personal loan, anything, if you miss that payment and you miss it for a period of time, it's going to be reported on your credit file. So you may not have any defaults or anything like that. But if your repayment history is bad, that will be a negative impact as well. So it might be that minor credit card that stops you buying your first home, for example. The positive with people that do have it all over the place is that we can do debt consolidation, we can put it all under one roof, we can look at talking, encouraging you to talk to all the multiple direct debts and bringing it all into one day. You get paid on one day, get it out the next day, and then you know what you've got left for the next between your payment cycles. So not necessarily like you're stuck, but you do have options. You may be renting, you might be able to consolidate into personal loan, you might be owning a home and you're able to move some debts and some expenses all under one. Progress to putting it all under one umbrella, which is obviously the next part of the finance legend. Now, when you got it all under one umbrella, the positive here is if it's all under one umbrella, you can identify savings you may not have had. So one of the examples is if you have had a mortgage for say the last two or three years, your original repayment you made two or three years ago is probably well in excess of what you need to be paying right now, as a minimum. So for Example, if you're feeling like everything's all under one umbrella, we might be able to identify savings. One of the most common things we find is when people send us their homeland statements to look at getting the new sharp fixed rate or the new sharpest variable rate to get some money out to buy another property is that we do usually find some identifiable viable savings in Redraw, they call it. And there's some hot topics at the moment in the media related to what Me bank has done to People's Redraw, all according to the lending terms and conditions of their contract. But Redraw has an aspect that if you have the money in your home loan account, you can take it back at any time, but it's also at the bank's discretion and they can change the terms and conditions at any time versus another alternative which might be an offset account, which is a transaction account in your pocket, in your money, and you can use that any time and doesn't affect the terms and conditions of the loan except for where it links to save you interest. So if it's all under one ungrounded. One of the things that we've also been finding is some of the banks, when you're looking to put your loan on repayment pause during the COVID 19 areas is that they are trying to help you identify did you know, Mr. Customer? You've got 50 grand and redraw, 2 grand and redraw, all that sort of stuff so they can help you out with the cash flow. And that's what we're doing over here. Some of the negatives of having it all under one umbrella is that if you've got it under one umbrella and you didn't know about those savings, you might have a concern for that. You may feel like you're on top of things, but you're not feeling like you're in a position that you can buy the next property. You have an aspect of paycheck to paycheck, but it's still you still not totally got what you need. You've got it under umbrella and you just want to cut through. And this is where our little man at the beginning, the financial legend, now this financial legend, he's sitting on a cloud. He's got his mind on some of the things that he can do with his money. He's got the correct structure of his lending in place. He's got the most suitable product for his conditions right now in this time and tomorrow and the future, because he's got someone advising that he's Got a correct repayment schedules and types and sometimes the correct repayments and schedules and types may expire in the future. So they were good now, but they are going to expire in the future. But he's not worried because he's got the right people on place. He's got an aspect of self management of his money. So he's not advocating his role in regards or her role in regards to what he's doing the money. There's just an aspect that there's more money to cover the expenses going out and the loans going out. They're able to build on equity, the management of immediate cash flow. So one of the aspects that if you do hold an investment property and you've got a loan on that, the loan has to be paid. So if the rent doesn't come in, you may have a gap. So this guy, he's got the buffers to get through when the tenant goes and the tenant comes back and all that sort of stuff. This guy also is able to reach his goal and he has peace of mind. What's more comfortable than sitting on a nice cloud, knowing that it's there? There's one big problem with this particular financial legend is that if you do not engage the right professional, if you do not engage the person that is going to be involved in managing and help working alongside you, you can slip down from the financial legend and slip down to mismanage accounts and a whole range of things that are not going to help you, not going to help you stay in the financial legend place. So engaging the right professional, myself and Karina from Diagnostics and Finance will help you get to this level quickly. So my question is, where do you fit in? Are we stuck? Are we all over the place? Are we all under one umbrella? Are we a financial legend or are we slipping between things? So basically we want to move people up this way and we do not want you to slip down. So if you are a financial legend, you need the right professional. If you are under one umbrella and you don't know where things are, we can identify those two. If you're all over the place, let's get the budget in place, let's get the loans all under one umbrella, so to speak. And if you're really stuck and your bank said no, there usually is an option and there is a way that you can get that into a progression of events so we can move you back up the tree. So referrals I'm looking for. So the actions I'm looking for people that are self employed and they are have a home loan or ambitions to buy a home. This is a particular interest group of mine where we can get the right structures in place. And right now being in the month of just starting the month of May, I know we've got two months left of the financial year. This is where we can do some numbers and if there is a way to increase your incomes and different things related to the next two months to be able to make your tax returns good, to get some good lending, we can do that too. Self managed super fund lending is quite a hot topic at the moment, especially for me. This is where if you've got lending in your super fund and it's old and hasn't been looked at for a while, most of the time we're saving about $5,000 in the first year off that because we're going from like a 7% down to a 6% rate or if you're buying a new home most of the time I'm not a broker that does a let's just get the transaction done, let's have a look at the market and make sure that we can get something that's under 6% versus something that's close to 7% which is what the common I'm seeing as a common trend within the broker community on the smsf. Lending multi property investment ownership. This is like a puzzle and people in isolation are probably doing puzzles. But multi property ownership customers for me is like putting a puzzle together. So I love it. People, people that are looking at lending or looking at going into the future of what they want to do to build their wealth. I love to talk to people and we're doing videos and things all the time about how finance relates to different things. First home buyers now my colleague Karina loves first and they are people that can very quickly jump from being you're stuck or you don't know where things are to being a financial legend in their own right and then they love to be in their own home at the same time. And for referral based businesses, people that give me tat referrals, construction based companies that are trading as a company are a great, a great referral source and a great customer at the same time. Property investment companies because they sell the properties and multiple customers are there to be able to be served and they need lending and right now where we've got some barrier changes between states and we've got some extra scrutiny on a few different things related to income and other things, brokers like myself and Karina are in high demand in regards to still people by building their wealth. Business coaches are great too as they work alongside to be able to get the person into the right stead and the cash flow going into the future. When with lending we look more at the past to try to predict the future a little bit more. And property, property developers are great too and aligning with property developers because they develop a product, then there's a customer, then there's a loan. So there's loans all the way through with those people. So if you've got any referrals related to construction, property investment, business coaches, property developers and people that are just thinking of let's get into the home. I know we're going through the COVID situation. I know the banks have been a little bit sort of, there's some doom and gloom out there, but there is still a lot of business going on and there's a lot, lot of applications going in and not necessarily just for the people that are open for business, but that are even a small restriction of trade, we're still able to take applications and go there. So it's Aaron from Diagnostics and Finance. I love to change people's lives by untangling their finance and drawing out the financial legend within. And you can reach us, you can search, there's a bunch of other content out there on the hashtag bagpipermortgage broker and also the flexible mortgage broker. And you can contact us at any time on the O2 number on your screen. I can highlight that too. And we'd be very keen to speak with you, catch up and do what we need to to help you out.

Excellent. Thank you so much, Aaron. So informative. And guys, you've got his number and he's on the trade sheet as well, number one. So yeah, give him a call and if you need to relieve some of your finance, you know exactly where to go.