Mortgage Planning

Our Guarantee - mortgage planning will save you money

Most people plan for a number of costly or expensive things in life. For example, we plan for our children’s education, we plan for special events or occasions, we plan for weddings, we plan for career paths, why – we even plan for holidays.

But how many people formulate a documented, sophisticated and effective plan to eliminate the biggest debt that we are ever likely to have – our mortgage.

The reality is – that if you were to formulate and implement an effective Mortgage Plan, then you would most probably save somewhere between tens of thousands and hundreds of thousands of dollars.
The most ironic aspect to all of this is that the potential savings that you could make from a professionally prepared Mortgage Plan would most probably more than cover all of the costs associated with the other things that we plan for in life.

What is Mortgage Planning?

Mortgage planning is not simply about home loans and mortgages. It involves infinitely more than that.
A Mortgage Plan is totally about you, your family, your personal and financial goals and is about providing strategies to help better manage the single largest financial obligation most families ever encounter – their home mortgage.

Mortgage Plan strategies are not only limited to finding ways and strategies to reduce interest and significantly reduce the time in which you would pay off your mortgage, but also involve strategies to manage to your personal household budget more efficiently and strategies that can help you to plan for the unexpected - such as sickness, unemployment and even pregnancy.

Mortgage planning is also about considering your future plans, which may include the purchase of a new car, an overseas trip, or acquiring additional assets - whether that be an investment property or a share portfolio. In order to achieve these goals it is essential you have a plan. A realistic, achievable, personalised and professionally structured plan. With this in mind, Comprehensive Mortgage Planning can develop a plan personally tailored to your circumstances, income, lifestyle and goals that will assist you in achieving these goals.

A Mortgage Plan that will allow you to establish a projected timeline for your goals and objectives.
Having a mental plan is always a good starting point, but to have a detailed and personalised plan professionally prepared and presented in written form helps you establish a starting point as to what is required to achieve the plans desired outcomes.

One of the realities in life is that without preparing, implementing, monitoring and reviewing your plan, all those wonderful intentions and goals that you have will most probably gradually be forgotten, or simply become just too difficult to achieve. With a personalised Mortgage Plan in place coupled with the support of a professional Mortgage Coach this will provide you with an opportunity to see your plans you through to completion.

However, from time to time the unexpected may happen. Sickness, pregnancy, unemployment or a family tragedy all have the potential to derail the best plans you may have. But with the help of your personal Mortgage Coach who has the ability to adjust your Mortgage Plan to any change of circumstances, you can minimize the financial impact that these unexpected events can have on your life and your future.

Finally, having an effective and personalised Mortgage Plan can lay the groundwork to build future personal wealth by increasing equity which in turn can be used to acquire other appreciating and income producing assets.

We would like to provide just one example of a long term client of Comprehensive.
Ten years ago one of our clients had just the one property with a mortgage against the property that equated to about 75% of the value of that property. By 2011, this very same client has a property portfolio of 12 properties. Is this client a high flyer with a high income with ample disposable funds available? NO!

In fact, with the exception of rental income, this particular client has never had an annual income that has exceeded $75,000.00 per annum, has two children and a wife who is a home mother and has not been secularly employed for the last 9 years.

Why is this client been able to build such a sound asset base? Simply by firstly having an effective Mortgage Plan, secondly by having the discipline to adhere to this Mortgage Plan, and thirdly, by using the extra equity created by adhering to the Mortgage Plan to invest in more property in order to build personal wealth – and no – this client has not had to live an austere lifestyle - in fact, he has been able to take his family on several overseas holidays during this period.

An effective, personalised and structured Mortgage Plan works. It’s as simple as that.

How is a Mortgage Plan Formulated?

The first step your Mortgage Planner will do is he or she will listen to you!
Your Mortgage Planner will need ask you a detailed series of questions specifically designed to assist you in telling us what your current position is, and what your plans and aspirations for the future are. Your Mortgage Planner will need to know whether you want to acquire additional properties, invest in a share portfolio, expand your family, provide for a more comfortable retirement, or whether you simply wish to eliminate debt for peace of mind. We are not trying to be nosey – we just want to get to know you better and understand what is important to you.

Your Mortgage Planner will then assist you to analyse and prepare your current personal and household budget, and in order to do so, your Mortgage Planner will need to compile a list of your assets and existing financial obligations.

Your Mortgage Planner will also need to consider the protections you have in place for any exposures that you may have through insurances.

For example, if you ask most home owners what they believe their most valuable asset is, the vast majority of people will say that their home is their most valuable asset. But this is not correct. Your most valuable asset is in fact the ability to earn an income – for without this income, you will not have the ability to service your home loan – which would probably result in the loss of your home.

Think about it for a moment. If you owned a vehicle worth $30,000.00, would you consider driving it around uninsured? Most responsible people would say no. Irrespective of how proficient a driver you might be, the facts are you cannot account for the actions of other people or for circumstances beyond your control – and as such, the actions of others or a freak accident could see your vehicle damaged or destroyed beyond repair.

As such, it would be fair to say that it would be foolish to drive around without insurance.
Yet our annual income is typically much more than the value of the average vehicle. Despite this, only a very small percentage of Australians have any insurance in place to protect their income in the event of an accident or tragedy. It is ridiculous when you think of it – isn’t it.

Why is this the case? More often than not, it is simply because of the fact that they have never sat down and thought of it – and as such, they do not have a plan in place to protect them from the unexpected. The relaxed Australian attitude of “she’ll be right mate” or “it will never happen to me” can also be a real trap, and this can potentially destroy an individual’s and a family’s financial security and financial future.
During the preparation of your Mortgage Plan, your Mortgage Planner (amongst many other things) will be able to identify such exposures – but in saying that, it is crucial to point out that a Mortgage Planner is not necessarily a Financial Planner or an Insurance Consultant – but your Mortgage Planner will typically have established relationships with trusted professionals in these fields, and will be happy to refer you to a professional who can assist you in these areas.

After completing an extensive analysis of your financial position, your personal and financial goals and your plans for your future, your Mortgage Planner will now be in a position to go away and prepare a comprehensive Mortgage Plan containing numerous recommendations on the information gathered.
Once you have approved the plan a final report is compiled and recommendations for implementation will be made.

We also have access to very high quality, sophisticated (yet easy to use) software that enables you to track how well you are performing in relation to your Mortgage Plan and your budget. The software can identify where you have performed well and where you could have perhaps performed a little better. It is designed to help you to stay on track.

In any case, we always recommend that your Mortgage Planner sits down with you every year and perform an annual review. At the review, we are able to identify what areas are working – and what areas we need to work on. At this point it may well be necessary to make changes to your Mortgage Plan.

A Mortgage Plan is useless unless it is effective, is implemented and if it does not save you money. If these three items are not achieved – then the Mortgage Plan is little more than a waste of time.

With this in mind, Comprehensive Mortgage Planning offer their clients an iron clad guarantee.
If any client for whom we prepare a mortgage plan (after implementing and adhering to the plan) does not recoup the fee that we charge for preparing the plan within the first 12 months of implementing the plan, then Comprehensive Mortgage Planning will refund 100% of the fee. That’s a guarantee that you cannot loose on.

That’s how sure we are that we can save you significant amounts of money. For example, on the average home loan of $350,000.00, a well prepared Mortgage Plan could save a client over $150,000.00 over the term of the loan – however it must be emphasised that every client’s circumstances are different – and as such, no two Mortgage Plans are really the same. Our aim is for you to own your home in half the time with as little impact to your family’s cash flow as possible so that you can use the savings to build wealth.

With a 100% refund guarantee and potentially tens of thousands or hundreds of thousands of dollars to save, why wouldn’t you want to sit down and have a professionally prepared tailored Mortgage Plan for your household?

The savings that you could make from implementing such a plan could be used to build a secure financial future – not just for yourself – but for your family.

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