Mortgage Debt Management

Generally your mortgage debt is the biggest debt of your lifetime, so it pays to make sure you are paying the least amount of interests on this otherwise you are just giving money away (to the banks) for nothing.

Debt is also the pathway to;

• Buying your next home
• Renovating your home
• Buying an investment property

So it’s important that you make sure your debt is structures as efficiently as possible. At Concord Private Wealth we work with a mortgage and debt specialist who can help to make sure you are getting the best deal possible and paying the least amount of interest to the bank.

The reason why we work with other professionals in this area is because debt often ties into other aspects of your financial situation. For example, by free up mortgage repayment by having a lower interest loan you can then direct those savings into other areas of your finances, such as increasing your contributions into super, to start an investment portfolio, or to fund the Life and income protection insurance that you need, or even a holiday!

One last point. With debt comes obligation. The obligation to repay the bank. This is why it’s extremely important that you address your personal insurance requirements so that you can continue to meet your debt obligations if you couldn’t work, or die.  Not only this, it also provides peace of mind to yourself and your family that they are protected should something happen to you.