It's not carved in Stone!

Nothing ever stays the same, as human beings we are constantly on the move, adapting and changing as we transition through the different stages in life from first home buyers to new parents, to investors, to empty nesters, to retirees.

Yet so many people set and forget their mortgage as if it is carved in stone!

I recently meet with clients who had purchased their first home a few years ago. Since that time, they had changed jobs, taken time off work to have two very cute children, purchased a new car and renovated the house.

Both their lifestyle and financial position had significantly changed since they purchased, but the mortgage had not!

After an in-depth review and analysis taking into account, the current interest rate environment, my clients new circumstances and their future aspirations, I was able to recommend a structure that had an end result of saving them thousands of dollars in interest!

Your mortgage needs to reflect your changes in circumstances and should be reviewed regularly, at a minimum whenever the fixed interest rate expires.

Always remember you control the mortgage, not the other way around! The mortgage should work for you – is yours?