03 Feb Finding the Best Home Loan Deal
Rather than analysing bank products as they appear in front of you, arrange to meet with your account manager or private banker. Through discussing in person the various options, a tailor-made solution may arise which compliments your overall strategy.
Importantly, you might also like to consider shopping around at other banks, regardless of the service you’ve been given by your current supplier, if there is an opportunity for you to increase your return, it would be irresponsible not to explore it.
An impartial third party can be a useful resource when evaluating various banks and other financial institutions. Consider speaking with someone with experience in a wide range of products, who doesn’t have affiliations with any particular organisation. It’s obviously pointless to regard an individual whose products come exclusively from a single location as impartial, but their opinion still may be useful as part of your information gathering process.
Regardless of how you choose to allocate your cash reserves, remember to maintain the site of your overall strategy, and not restrict yourself due to drawn out exit terms or restrictive rules. The time to be interested in the details is before they become a reality, so make sure you and your advisors look over all of the terms and conditions in detail, to avoid unpleasant surprises at the backend. Through keeping your eye on the overall strategy, you are also more likely to go when with figures in mind, percentage points you wish to gain and dates you wish to exit, if you are considering a medium or long-term product. Don’t be afraid to walk away if you’re expectations are not met, and avoid anyone’s opinion that your expectations are not reasonable; perhaps they’re right, but once you commit, all other options are removed.