Most of us have an everyday bank.
It’s where our salary or wages are paid, our bills come out, and our debit or credit cards are held. We may have been with the same
bank for years, so when it comes time to apply for a mortgage, it can feel natural to start there.
But does your mortgage actually have to be with the bank you use every day?
The short answer is no, not necessarily.
Most homeowners and investors set their mortgage up once and leave it there. But a home loan isn't a “set and forget” arrangement — and the
moments when your circumstances change are exactly when it pays to review it. One of the biggest of those moments is when you’re
restructuring how a property is owned: moving it into a company or a family trust. If that’s on your horizon, it’s also the ideal time to
look at whether your current bank is still the right fit.
The case for switching banks.....
For many homeowners, upgrading follows what feels like a familiar path.
Sell the current home, use the equity as a deposit, then move into the next one.
It's the approach most people expect.
But it's no longer the only option.
Buying your first home is exciting, but one of the biggest decisions you'll make comes before you even start house hunting.
Do you buy a brand new home, or an existing one?
Both options have their advantages. The right choice depends on your budget, your lifestyle and what matters most to you over the long term.
In this week's update, I'll walk through the pros and cons of each so you can make a more informed decision before taking
the next step.