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Speaker 1: Good morning everyone, and welcome back to Sugarmuma's File, a

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Speaker 1: podcast that ignites your financial journey with inspiring stories and

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Speaker 1: innovative strategies. I am your host, financial planner, Hannah Cannibell,

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Speaker 1: and today we are in for another Ask Adam series

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Speaker 1: where you get to be brought up to speed on

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Speaker 1: your mortgage, what the going rate is, what's financially advantageous

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Speaker 1: for you and your goals, and of course what you

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Speaker 1: should know and understand and potentially be considering to help

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Speaker 1: get the monkey off your back. That is, beat the

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Speaker 1: bank at their own game and pay your mortgage off

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Speaker 1: as quickly as possible, saving valuable time and money. Now now,

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Speaker 1: also a quick reminder, I must do my compliance duties,

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Speaker 1: and that is to remind you that everything in this episode,

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Speaker 1: including every single other episode, is always general advice only

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Speaker 1: and for educational purposes. Also, please know that should you

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Speaker 1: want to speak with Adam or work with Adam, I

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Speaker 1: get zero benefit both upfront and ongoing. And having Adam

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Speaker 1: on this podcast, I am more than happy to share

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Speaker 1: Adam as a fantastic resource because I know for myself

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Speaker 1: personally after working with Adam for eighteen years how valuable

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Speaker 1: his advice is for your financial journey towards independence and

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Speaker 1: sustainable authentic financial independence. All right, good morning, Adam. How

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Speaker 1: are you this morning? I'm well, Thank you, I'm well.

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Speaker 1: I love asking these questions today. Whenever we speak on

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Speaker 1: the forum, she's quite often I'm always asking me it like,

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Speaker 1: what's going on in you know, the mortgage world, and

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Speaker 1: what's you know anything new that I need to know

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Speaker 1: and understand? And you always have such insightful information and

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Speaker 1: it's always very relevant, and you know, I guess up

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Speaker 1: to speed with what's going on. I feel like you're

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Speaker 1: like kind of ahead of the game. So I wanted

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Speaker 1: to talk about the mortgage industry, interest rates, home loans,

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Speaker 1: what people are doing, all the trends that you're seeing,

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Speaker 1: the things that we need to be look out for

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Speaker 1: and be careful with when it comes to our home loan,

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Speaker 1: so that we understand that actually having a mortgage free

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Speaker 1: life is actually something that is a realistic goal to

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Speaker 1: be working on. So I'm going to hit you up

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Speaker 1: with the whole parlor of questions if you don't mind.

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Speaker 1: All right, Okay, first of all, home loans A right now? Now?

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Speaker 1: What do we need to know right now? About the

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Speaker 1: home loan market. You know the rates that we're paying.

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Speaker 1: I saw the other day online that people can save

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Speaker 1: up to on average zero point four to six but

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Speaker 1: stand off the home loan if they actually reach out

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Speaker 1: directly to their bank or to a mortgage brokeer. Is

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Speaker 1: that true?

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Speaker 2: The right? I'm not sure, but yes, you need to

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Speaker 2: reach out to your bank, Gilly. You know, interest rate

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Speaker 2: markets change all the time, and depending on how long

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Speaker 2: you've had your loan for discounting changes. So we're always

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Speaker 2: recommending at least once a year, contact your bank and

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Speaker 2: try to review the interest rate. We do that every

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Speaker 2: year for our clients.

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Speaker 1: You do that automatically. You don't even we do. Clients

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Speaker 1: are even ask You just go and do it.

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Speaker 2: Yes, that's right, so why not? I mean banks take

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Speaker 2: advantage otherwise, if you don't ask, you don't get and.

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Speaker 1: The squeakiest wheel always gets fixed first.

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Speaker 2: Absolutely, so it's always worth while doing either direct with

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Speaker 2: your bank or through your mortgage broker. You know, it's

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Speaker 2: not hard to look at what competitive what the competitive

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Speaker 2: rates are out there, you jump online, it's pretty easy

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Speaker 2: to get. All you need is a bit of information

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Speaker 2: like that on a phone call. And they know that

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Speaker 2: you're serious.

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Speaker 1: But also you know, if that figure is correct, zero

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Speaker 1: point four six percent is the average saving that someone

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Speaker 1: will get contacting their bank or going through a mortgage broker.

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Speaker 1: That's a lot of money permit to be saving, and

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Speaker 1: that's money that could be going towards the home loan

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Speaker 1: and you know, helping pay off the mortgage a lot quicker,

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Speaker 1: saving valuable time and money.

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Speaker 2: Yeah. Look, if you're looking at Sydney on the average

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Speaker 2: of a million do or home loan five hundreds a

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Speaker 2: month interest.

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Speaker 1: It's funny. You know, people will do all these extreme

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Speaker 1: things to save money, which I respect and admire, but

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Speaker 1: then quite often the simplest, most effective strategy is right

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Speaker 1: under our nose. But we can't be bothered to because we,

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Speaker 1: I guess have a bit of a block thinking there's

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Speaker 1: going to be so much paperwork. It's going to be

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Speaker 1: you know, it's going to force us to do our

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Speaker 1: taxes or catch up on our personal accounting, and we.

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Speaker 2: Just well, yeah, some people just feel awkward about it

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Speaker 2: or yeah, so like not wanting to bargain, you know,

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Speaker 2: or haggle for you know, a discount if you're buying

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Speaker 2: something in retail, it's the same thing. They're a bit

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Speaker 2: nervous or awkward about making that phone call, but you

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Speaker 2: shouldn't be.

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Speaker 1: Well, I guess that's where people like myself use you

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Speaker 1: because you do it for me.

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Speaker 2: That's right.

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Speaker 1: I've never had to make that front call.

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Speaker 2: No, exactly, and you know we do it for you.

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Speaker 2: And when when you're doing it ongoing. The longer, the

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Speaker 2: longer that your rate is closer to the market leading rates,

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Speaker 2: the less need you have to refinance. And that is

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Speaker 2: a win because refinancing, you know, there are costs, always

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Speaker 2: in costs involved with that, and if it's worth while refinancing, great,

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Speaker 2: do it. Encourage it. But you can stay with your

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Speaker 2: current bank and get a better rate. Why not?

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Speaker 1: Do you have a script for people who don't want

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Speaker 1: to go and refinance, don't want to go through a

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Speaker 1: mortgage broker, but need to call their bank and they're

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Speaker 1: willing to have that awkward, uncomfortable conversation.

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Speaker 2: Wouldn't say a script, but you know, to your best bluff,

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Speaker 2: I mean, yeah, just as I said, do your research,

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Speaker 2: check what the best rates out there are. And then

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Speaker 2: so on the phone you can you can talk to

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Speaker 2: whoever you're speaking with. I want to ask for the

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Speaker 2: retention team so they know you're serious about it, that

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Speaker 2: you're looking elsewhere, and if you if they don't come

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Speaker 2: to the party, you're at the door.

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Speaker 1: I feel like we need to do a role.

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Speaker 2: Let's try.

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Speaker 1: Okay, all right, So I want you to be a

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Speaker 1: mortgage owner and I'm going to be the bank. So

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Speaker 1: you're going to call me, Hi, Adam, How can I

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Speaker 1: help you today?

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Speaker 2: Hi, nasty major bank. I've got a homeline account with

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Speaker 2: you that i'd like to discuss my interest rate on.

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Speaker 1: All right, how can I help?

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Speaker 2: Do you need to identify me?

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Speaker 1: Most definitely?

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Speaker 2: Look, I've been my interest rate is now six point

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Speaker 2: eight percent, and I've just been online and I've seen

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Speaker 2: that there's rates of six point one percent out there.

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Speaker 2: And my husband and I, well, I don't want to

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Speaker 2: say my husband, my wife and I.

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Speaker 1: I'm sure your wife would be offended, but it would

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Speaker 1: also be perfectly find if it was your husband my wife.

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Speaker 2: And I want to take advantage of that. So either

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Speaker 2: we'll be looking to read finance unless you can sharpen

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Speaker 2: our interest rate in order to keep us. Would you

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Speaker 2: be willing to look at that for me?

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Speaker 1: And when you say sharpened. Do you expect the bank

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Speaker 1: to match that rate or beat that rate.

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Speaker 2: Depending on the rate you're quoting. You know they would

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Speaker 2: rarely beat it, but the idea, yeah, you want to

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Speaker 2: ask them to match it, but either he always asks

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Speaker 2: them to beat it. As I said, you know, at

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Speaker 2: the end of the day, not so much that you're bluffing,

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Speaker 2: but give them an opportunity to think that you're not

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Speaker 2: serious about moving, and that you're just doing this out

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Speaker 2: of process, and that you will accept a lesser discount

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Speaker 2: than what you're aware is available out there. Then they'll

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Speaker 2: do that. The bank will take advantage of it. So

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Speaker 2: tell them you want them to match or beat it.

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Speaker 1: All right, everyone, you heard it from Adam. There is

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Speaker 1: your script. We just did a little role play for you,

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Speaker 1: so you can now confidently make that call to your

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Speaker 1: bank and demand a better deal. All right. Another question

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Speaker 1: I want to ask you is about changing jobs. If

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Speaker 1: someone is about to buy home, or is about to

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Speaker 1: apply for say a debt recycling strategy, or looking to

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Speaker 1: refinance existing homeland, they are thinking of changing jobs, are

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Speaker 1: about to change jobs, does this throw a spanner in

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Speaker 1: the works.

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Speaker 2: Yeah, it ken. I mean, if you're you're changing to

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Speaker 2: similar equivalent of what you're already doing and your income

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Speaker 2: isn't reducing, then it shouldn't post so much of a

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Speaker 2: problem unless you've got strong probation clauses within your contract,

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Speaker 2: so that that would depend on your lenders appetite for that,

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Speaker 2: if they've got any issues with probation. So ideally you'd

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Speaker 2: prefer it. I'd prefer it clients weren't changing job because

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Speaker 2: it is a risk, but most of the time it

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Speaker 2: should be okay. There would only be an issue really

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Speaker 2: if you're changing from a trade related job to say,

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Speaker 2: you know, inequities or stop broker and on a much

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Speaker 2: higher income. You know that's got no track record there,

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Speaker 2: so that that's a bit of a red flag and

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Speaker 2: bank might might want to wait until you've been there

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Speaker 2: for a year.

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Speaker 1: Yeah wow.

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Speaker 2: So in that.

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Speaker 1: Scenario, having that, I guess, transparent upfront communication with the

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Speaker 1: mortgage broker if there is a career change happening or

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Speaker 1: going to happen, is important.

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Speaker 2: Yeah, and to get the timing because as I said,

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Speaker 2: if it's and most of the time you'll assume someone's

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Speaker 2: moving into the same role that they're doing and maybe

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Speaker 2: getting a pay rise, which is all normal and great.

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Speaker 2: It's more if it's one of those unique situations we're

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Speaker 2: chaining into a different job together, or or if it's

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Speaker 2: going from full time, permanent full time to a contract role.

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Speaker 1: Is the same situational issue with women who are planning

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Speaker 1: on having a family and taking time at the workforce question?

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Speaker 2: Not. Most banks have a credit policy for that. We're

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Speaker 2: in that if you can provide a letter from your

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Speaker 2: employer to confirm that you were returning to work and

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Speaker 2: what capacity, so how many days a week, you know,

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Speaker 2: what percentage of your full time income you're going back to.

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Speaker 2: They'll factor that into the credit assessment and what you

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Speaker 2: can afford to borrow. And then you just need to

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Speaker 2: ensure that you've got enough cash in the bank to

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Speaker 2: cover any gap of income between when you go on

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Speaker 2: matturnity leave to when you return to work. And that's

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Speaker 2: all okay.

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Speaker 1: That is so interesting to know, and so many people

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Speaker 1: wouldn't even think about that, you know. That's why that

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Speaker 1: preparation for you start having a family is so important.

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Speaker 1: On that note, is there a maximum age that someone

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Speaker 1: can apply buy a home as a principal place of residence?

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Speaker 2: No, there's no maximum age. I mean, you need to

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Speaker 2: be ideally and still working. If you're not still working,

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Speaker 2: then you need to have.

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Speaker 1: Sufficient be a self funded retire to evidence.

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Speaker 2: So the bank can afford whatever loan you're taking out.

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Speaker 2: But no, there's no age maximum age.

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Speaker 1: The next question I want to ask you is how

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Speaker 1: do you get out of a low dock loan?

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Speaker 2: Don't get one to begin with.

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Speaker 1: But there are situations where people are time poor, they've

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Speaker 1: got a complicated situation, they're self employed, their money's tied up,

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Speaker 1: you know, in assets that can't be liquidated as quickly

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Speaker 1: as they planned. You know, it's situational and they've had

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Speaker 1: to take that out, and now the situation has calmed

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Speaker 1: itself down. How do they unwind that and get back

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Speaker 1: to a competitive interest rate? And you go back to that.

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Speaker 2: It can be things like starting a new business and

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Speaker 2: you know you've only been trading for just over twelve

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Speaker 2: months and you haven't got your financials in audio. And

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Speaker 2: that's common. So oh, look, it's the same as any

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Speaker 2: other refinances. Gathering income documentation, tax returns to see if

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Speaker 2: you can then move out of that lowdock line. Ideally

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Speaker 2: you want to be if you are in a low

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Speaker 2: dock loan. Hopefully you're not on that's got high exit costs.

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Speaker 2: High exit costs aren't as common these days when you

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Speaker 2: know the furdest establishment fees were banned. Oh god, probably

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Speaker 2: teen years ago, now ten years ago. So yeah, look,

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Speaker 2: it's just about keeping an eye on it, reviewing your

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Speaker 2: finances and the viability of refinancing out to a standardlone,

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Speaker 2: which is why you would work with a broker. Yeah.

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Speaker 1: Interesting, and so you can actually get out of it.

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Speaker 1: Not the end of the world if you are with

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Speaker 1: a load doc loan. And obviously for listeners that don't

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Speaker 1: know what a load dock loan is, it's a loan

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Speaker 1: that you tend to get a brout with less questions

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Speaker 1: and therefore pay a higher interest rate and sometimes substantially high.

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Speaker 2: Yeah, you're basically not verifying your income through documentation, so

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Speaker 2: you need to be self employed, have a registered ABN,

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Speaker 2: be registered for GST some instances. Instances you need to

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Speaker 2: have been trading for at least two years to qualify

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Speaker 2: for load docks. We don't do a lot of load

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Speaker 2: dock loans, so it's like a last result it is.

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Speaker 2: But again, and it's similar to what I've said in

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Speaker 2: the past about lender's mortgage insurance a load doc loan.

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Speaker 2: It's an opportunity costeh. If you need it, you need it,

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Speaker 2: and that's why it's good. And there's so many different

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Speaker 2: a range of different borrowing options out there because there

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Speaker 2: are so many different, you know, personal situations that need it.

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Speaker 1: Now, one piece of advice you've always given me and

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Speaker 1: I've always followed, and this goes back I think we're

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Speaker 1: not mid twenties working together, and that is to always

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Speaker 1: check your credit rating. And you always said to me

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Speaker 1: check it, not because of what my credit rating might be,

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Speaker 1: but more about identity theft. Can you explain to everyone

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Speaker 1: why you need to know your credit rating and why

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Speaker 1: you need to check it on a regular basis.

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Speaker 2: Ye, credit rating is one of the first things that

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Speaker 2: is checked when you apply for finance these days. So

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Speaker 2: it's all online. All of your accounts are linked up

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Speaker 2: to your credit file and are showing your repayment history

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Speaker 2: each month, credit cards, personal loans, home loans, they're all

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Speaker 2: on there. So as if your credit rating is dropping,

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Speaker 2: it means you've got some bad repayment history, and as

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Speaker 2: you said, identity theft, so it could be for a

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Speaker 2: credit card that's on your credit file now that you're

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Speaker 2: not even aware of if there's been some identity theft.

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Speaker 2: So there's a way that you can actually register for

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Speaker 2: credit file up So you've got to Equifax, who you

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Speaker 2: can sign up for to get month it's a month

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Speaker 2: that your quarterly updates or any alerts on your credit file.

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Speaker 2: So if there's something to be concerned about, you can

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Speaker 2: get Quifax credit alerts.

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Speaker 1: Okay, that's good to know, and that's something I recommend

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Speaker 1: everyone take ten minutes out other day to go and do.

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Speaker 1: And it's actually quite interesting what you might discover and

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Speaker 1: also kind of gamifies your financial health because you can

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Speaker 1: look at your score and then come back to it

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Speaker 1: in six months time or a year's time and see

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Speaker 1: what's improved. You know, is it higher And obviously they

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Speaker 1: all vary in how they sort of grade you, but

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Speaker 1: it definitely adds a little bit of like healthy competition.

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Speaker 2: Yeah, it does, because as I said, when line applications

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Speaker 2: are processed now, it's all done online. So as soon

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Speaker 2: as the application goes in, get a credit file check,

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Speaker 2: so the bank straight away grab that your credit file,

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Speaker 2: your credit score, and if you've got a bad score,

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Speaker 2: you can get client instantly. They won't even bother looking

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Speaker 2: at your application. It's just auto to clim So if

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Speaker 2: you're getting ordered a coin, that's bad.

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Speaker 1: So you then have I guess the benefit of hindsight

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Speaker 1: in checking your credit rating to then improve it before

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Speaker 1: you then go and apply.

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Speaker 2: Correct because your credit for your credit score is if

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Speaker 2: you've got some negative repayment history on any of your

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Speaker 2: financial accounts, it'll take it can take up to two

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Speaker 2: for that to then clear off your file get your

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Speaker 2: score back up, So it's on there for two years

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Speaker 2: and that's just bad repayment history. But obviously if you've

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Speaker 2: got a default or a judgment, you know they're on

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Speaker 2: there for seven years.

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Speaker 1: All right, paperwork? I know I always ask this, but

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Speaker 1: just to let the listeners know, especially if there's any

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Speaker 1: new listeners. What do you need to have from a

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Speaker 1: paperwork point of view to apply for a homeland? What

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Speaker 1: are you going to tell me if I call you

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Speaker 1: and say, adam money to make an appointment, I need

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Speaker 1: to refinance or I need to I want to buy

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Speaker 1: it home. What's the list of things you're going to ask?

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Speaker 2: So let's just do basic. You know, a pair O

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Speaker 2: ygen employee. First thing, the most important is one hundred

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Speaker 2: points ID ideally a passport and a license, both the

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Speaker 2: current last two or three pay slips, bank statements, six

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Speaker 2: months worth of bank statements showing your your monthly spending,

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Speaker 2: so your monthly habits. That's just a very basic level

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Speaker 2: if you're looking to buy it, but if you're looking

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Speaker 2: to refinance, then it'd also need months of your homeland

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Speaker 2: repayments credit card statements.

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Speaker 1: So really not actually that my heart.

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Speaker 2: No, it's not at all. It's it only gets deeper

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Speaker 2: and more complex if you're you know, in a unique

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Speaker 2: employment situation, maybe getting commissions or bonuses or over time,

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Speaker 2: in which case then we can look for additional documents

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Speaker 2: like you know, your income and your income statements, which

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Speaker 2: we used to call group stifficates that the employer would issue.

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Speaker 2: That's now linked through your mind go ounce. You can

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Speaker 2: download your income statement from there.

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Speaker 1: So it's actually pretty easy.

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Speaker 2: It is, and there's so much There are so many

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Speaker 2: user tools that we've got now to assist with that,

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Speaker 2: like data scraping for bank statements, so you basically there's

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Speaker 2: a few different providers. They're safe and secure. So just

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Speaker 2: to give you a quick idea. Basically, we give our

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Speaker 2: clients a link, they jump into the link, log into

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Speaker 2: their select with their bank is log in. They're not

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Speaker 2: giving their log in details to anyone. They select the

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Speaker 2: accounts that they want statements to be sent for, and

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Speaker 2: then the system data scrapes those statements and emails those.

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Speaker 1: Back to our So it literally takes ten minutes.

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Speaker 2: Two.

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Speaker 1: Yeah, actually I did this, so I know it does

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Speaker 1: take it literally too. All right, you touched on saving statements.

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Speaker 1: Do the bank really need to see some savings? And

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Speaker 1: obviously they do need to see your your budget or

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Speaker 1: your living expenses, but what about situations where you've inherited

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Speaker 1: money and that's sort of deposit or you know, you've

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Speaker 1: got parents grandparents that have given you some money to

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Speaker 1: help pay for your first time Like, where does that

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Speaker 1: kind of fit in in the complexities of being able

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Speaker 1: to show that you can afford borrow that money you

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Speaker 1: can she afford to pay it back.

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Speaker 2: Yeah, good question. And you've put a couple of scenarios

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Speaker 2: in there that are relevant at the moment because you know,

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Speaker 2: we see it, we see it regularly, so first home

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Speaker 2: buyers generally need to show genuine savings. When I say

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Speaker 2: genuine savings got at least five percent deposit in your

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Speaker 2: account for at least six months. However, there are some

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Speaker 2: really good borrowing options linked to that now, well, not

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Speaker 2: particularly specifically if you're a renter. So if you and

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Speaker 2: your partner are renting and you've got her lease through

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Speaker 2: a licensed real estate agent, you can verify you then

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Speaker 2: paying rent for six months that can be used cover

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Speaker 2: the genuine saving argument.

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Speaker 1: That's really good to know. They would take a lot

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Speaker 1: of stress and pressure of people show.

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Speaker 2: Yeah, definitely, because you're right some you know, particularly with

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Speaker 2: cost of living at the moment, it's hard for a

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00:19:03,440 --> 00:19:06,920
Speaker 2: lot of people to say. But if they're given from

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Speaker 2: parents or inheritance that they can use as a bonus, yeah, bus,

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Speaker 2: you know, then it means there are options to get

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Speaker 2: around that genuine savings policy. And it's not available widely

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Speaker 2: available everywhere. There's you know, select lenders that oper that

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Speaker 2: type of thing, but it's available, that's the.

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Speaker 1: Main thing, and that's something you help people out with absolutely.

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Speaker 1: I imagine you've come across it on a regular basis

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Speaker 1: as well.

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Speaker 2: Yeah, most people that are looking to buy have some

381
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Speaker 2: form of savings. You know, it's pretty rare that you

382
00:19:35,800 --> 00:19:37,800
Speaker 2: see someone that doesn't have any savings and they've got

383
00:19:38,040 --> 00:19:39,720
Speaker 2: some want to go and then take out a mortgage

384
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Speaker 2: because it's scary, right if you haven't been able to

385
00:19:42,800 --> 00:19:44,919
Speaker 2: save and you know, how are you're going to afford

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Speaker 2: the mortgage. So it's it's rare. But at the same time,

387
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Speaker 2: you know, that's not to say that it doesn't become

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00:19:52,200 --> 00:19:54,200
Speaker 2: available and someone's been paying a high amount of rent

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Speaker 2: over that period that is the equivalent of a mortgage

390
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Speaker 2: as well. So that's where that policy comes into right.

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Speaker 1: Previously in other episodes, we've talked about those you know,

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00:20:03,600 --> 00:20:07,479
Speaker 1: kind of magical formulas that you see maybe people who

393
00:20:07,480 --> 00:20:09,720
Speaker 1: aren't necessarily experience or qualified, saying, you know.

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Speaker 2: The ones that don't exist.

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Speaker 1: Yeah, well the ones that you know, like, use this

396
00:20:14,040 --> 00:20:16,080
Speaker 1: formula to work out how much you can borrow and

397
00:20:16,160 --> 00:20:17,719
Speaker 1: this is how much the bank will lend you. And

398
00:20:18,280 --> 00:20:24,000
Speaker 1: obviously they are not factually correct. You could loosely say

399
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Speaker 1: use it as a guide, but you know they're actually

400
00:20:26,160 --> 00:20:30,880
Speaker 1: a little bit misleading. What calculators do you recommend people use,

401
00:20:31,560 --> 00:20:34,320
Speaker 1: you know, the stereic clear of the fancy magical formulas,

402
00:20:34,320 --> 00:20:36,680
Speaker 1: which are basically a load of crap. But there are

403
00:20:36,720 --> 00:20:39,719
Speaker 1: calculators online that you can use, you know, on the

404
00:20:39,800 --> 00:20:42,639
Speaker 1: various bank's websites. Which ones do you recommend people use

405
00:20:42,680 --> 00:20:43,840
Speaker 1: if they're thinking.

406
00:20:43,440 --> 00:20:46,359
Speaker 2: About On our website, we've got must be twenty or

407
00:20:46,400 --> 00:20:48,680
Speaker 2: thirty different calculators, so you'll find them all on there.

408
00:20:50,040 --> 00:20:53,320
Speaker 2: You know, how much can I afford, what's my borrowing capacity?

409
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Speaker 2: Things like that. It's good just to play around with,

410
00:20:57,119 --> 00:21:01,520
Speaker 2: but really be serious about buying, go and see a broker. Yeah,

411
00:21:01,560 --> 00:21:04,440
Speaker 2: because all it takes is if you get emotional about

412
00:21:04,480 --> 00:21:06,800
Speaker 2: seeing a property online and you want it, and then

413
00:21:06,800 --> 00:21:09,080
Speaker 2: the real estate agent talks to you and says, I

414
00:21:09,080 --> 00:21:10,880
Speaker 2: don't worry, you can put an offer in and we'll

415
00:21:10,880 --> 00:21:13,919
Speaker 2: give you five days to get your finance ready. You know,

416
00:21:14,280 --> 00:21:15,959
Speaker 2: you should be ahead of all that get a pre

417
00:21:16,000 --> 00:21:19,640
Speaker 2: approval in place. So if you're just being inquisitive about

418
00:21:19,840 --> 00:21:22,440
Speaker 2: what you know you can borrow out of curiosity, sure,

419
00:21:22,520 --> 00:21:24,240
Speaker 2: have a look at the capadors online. But if you're

420
00:21:24,280 --> 00:21:26,800
Speaker 2: really thinking about buying, go and see someone to get

421
00:21:26,800 --> 00:21:31,000
Speaker 2: pre approval in place, because all it takes is to

422
00:21:31,040 --> 00:21:33,600
Speaker 2: get a bit unlucky with some bad timing. Let's say

423
00:21:33,600 --> 00:21:38,080
Speaker 2: you are eligible for a home loan and you qualify

424
00:21:38,160 --> 00:21:40,520
Speaker 2: for a loan that would secure the property of your

425
00:21:40,560 --> 00:21:43,080
Speaker 2: dreams that you're looking at, but you didn't act early

426
00:21:43,200 --> 00:21:44,879
Speaker 2: enough and then you miss out on it because you

427
00:21:44,920 --> 00:21:47,440
Speaker 2: didn't act. So it's not hard and you know you're

428
00:21:47,440 --> 00:21:50,040
Speaker 2: not paying a mortgage broker is not charging you, so

429
00:21:50,600 --> 00:21:53,880
Speaker 2: what's stopping you get pre approval.

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Speaker 1: And you should be rocking up to if you're doing

431
00:21:56,359 --> 00:21:58,680
Speaker 1: property inspections, you should have all of those ducks lined

432
00:21:58,760 --> 00:21:59,960
Speaker 1: up so that when you see it up with you

433
00:22:00,040 --> 00:22:02,280
Speaker 1: and you can quickly jump on it because these things

434
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Speaker 1: are time sensitive, especially in a competitive market like this.

435
00:22:05,119 --> 00:22:08,760
Speaker 2: Absolutely, and as a broker who cares, I can tell

436
00:22:08,800 --> 00:22:13,439
Speaker 2: you as well, it's really you know, it's really disappointing

437
00:22:13,480 --> 00:22:15,800
Speaker 2: as a broker if we let a customer down by

438
00:22:15,840 --> 00:22:18,560
Speaker 2: not getting the approval through. The approval through in time.

439
00:22:19,240 --> 00:22:21,480
Speaker 1: So but at the same time, they have to allow

440
00:22:21,520 --> 00:22:23,720
Speaker 1: you the opportunity to get it done in times, rocking

441
00:22:23,720 --> 00:22:24,320
Speaker 1: out the day before.

442
00:22:24,680 --> 00:22:27,000
Speaker 2: But even if they come late, it's still you still

443
00:22:27,000 --> 00:22:29,720
Speaker 2: feel like you haven't been able to deliver, So it's disappointing.

444
00:22:29,760 --> 00:22:32,560
Speaker 2: So yeah, that's why I encourage everyone get in get

445
00:22:32,560 --> 00:22:35,600
Speaker 2: the approval through. There's no fee doing it, So why not?

446
00:22:36,600 --> 00:22:39,480
Speaker 1: Now is there a bank that most people prefer? Like

447
00:22:39,520 --> 00:22:41,360
Speaker 1: do you find people go I hate that bank or

448
00:22:41,760 --> 00:22:44,119
Speaker 1: can we please go with that bank? And the record

449
00:22:44,160 --> 00:22:47,399
Speaker 1: is remind everyone this is not product advice whatsoever. But

450
00:22:47,760 --> 00:22:49,959
Speaker 1: I'm intrigued because there's so much bank bashing going on,

451
00:22:50,000 --> 00:22:52,760
Speaker 1: and I know from financial planning. When I'd say I

452
00:22:52,760 --> 00:22:55,520
Speaker 1: think we should invest in this bank, stop, I'd get

453
00:22:55,520 --> 00:22:58,040
Speaker 1: this like five minute story about how the bank teller

454
00:22:58,080 --> 00:22:59,600
Speaker 1: at this particular bank was route to them and they

455
00:22:59,640 --> 00:23:02,199
Speaker 1: will never invest in that bank ever again, Like is

456
00:23:02,240 --> 00:23:04,119
Speaker 1: that same with mortgages?

457
00:23:04,480 --> 00:23:09,800
Speaker 2: Yeah? Look, there's it all stems to know, experiences, having

458
00:23:09,800 --> 00:23:12,080
Speaker 2: bad experiences for being turned away from the bank and

459
00:23:12,080 --> 00:23:15,560
Speaker 2: then good experiences for being attracted to certain banks. So

460
00:23:15,680 --> 00:23:20,719
Speaker 2: you've got you know, customer satisfaction surveys, you know, who

461
00:23:20,760 --> 00:23:22,919
Speaker 2: are getting which banks are being a highest up that

462
00:23:23,000 --> 00:23:25,919
Speaker 2: list year after year. You know, I see Bend to

463
00:23:25,920 --> 00:23:27,520
Speaker 2: Go and Adelaide Bank are up there quite a bit

464
00:23:27,520 --> 00:23:29,800
Speaker 2: with that. Who I think are a good bank? Macquarie Bank.

465
00:23:29,840 --> 00:23:32,760
Speaker 2: I really like Uncurt You know, it's more the major

466
00:23:32,800 --> 00:23:35,400
Speaker 2: banks that I think customers are turning off because they're

467
00:23:35,400 --> 00:23:40,600
Speaker 2: closing branches refusing to provide offer existing customers better rates.

468
00:23:42,040 --> 00:23:43,000
Speaker 2: I don't want to go into that.

469
00:23:44,000 --> 00:23:47,119
Speaker 1: We're not bank bashing here, That's okay. I'm just intrigued.

470
00:23:47,680 --> 00:23:50,360
Speaker 2: That was my question, and the chops and changes too,

471
00:23:50,400 --> 00:23:53,520
Speaker 2: because you know, banks and non majors or second tier lenders,

472
00:23:53,520 --> 00:23:57,000
Speaker 2: they all go through different periods of seeking market share,

473
00:23:57,920 --> 00:24:02,080
Speaker 2: and whether that be the reporting the shareholders or just

474
00:24:02,200 --> 00:24:05,400
Speaker 2: timing of wanting to take on more market share, they

475
00:24:05,400 --> 00:24:08,159
Speaker 2: come out with more aggressive offers, better rates, better offers,

476
00:24:08,560 --> 00:24:11,560
Speaker 2: discounted fees and things like that, and with that they

477
00:24:11,600 --> 00:24:12,280
Speaker 2: become popular.

478
00:24:13,760 --> 00:24:15,439
Speaker 1: All right. The next question I have for you is

479
00:24:15,960 --> 00:24:17,880
Speaker 1: I know the answer to this, and I was horrified

480
00:24:17,880 --> 00:24:20,560
Speaker 1: when I saw this question, but as I promise people

481
00:24:20,560 --> 00:24:23,239
Speaker 1: who DM me the questions on Instagram for you, I

482
00:24:23,359 --> 00:24:26,040
Speaker 1: have to pass them on to you. And this question

483
00:24:26,240 --> 00:24:28,600
Speaker 1: is can a home loan be paid with a credit

484
00:24:28,600 --> 00:24:31,480
Speaker 1: card in order to maximize my credit card points?

485
00:24:32,160 --> 00:24:37,600
Speaker 2: Finally, no, unfortunately not And look at it probably gets

486
00:24:37,600 --> 00:24:39,520
Speaker 2: to the point where it did you know you'd have

487
00:24:39,560 --> 00:24:42,760
Speaker 2: your fees associated with doing it that would make it

488
00:24:42,840 --> 00:24:46,200
Speaker 2: not worth while you're basically purchasing points.

489
00:24:46,640 --> 00:24:49,080
Speaker 1: All right. Next question is can you include stamp duty?

490
00:24:49,119 --> 00:24:50,400
Speaker 1: In your mortgage application.

491
00:24:51,400 --> 00:24:53,560
Speaker 2: I'm a bit confused by that because you have to

492
00:24:53,600 --> 00:24:57,040
Speaker 2: include stamp duty if you're buying. So yeah, it's all

493
00:24:57,400 --> 00:25:02,119
Speaker 2: we're when we're assisting clients with a purchase, all the

494
00:25:02,200 --> 00:25:05,440
Speaker 2: fees and charges are inclusive in our proposal. The last

495
00:25:05,480 --> 00:25:08,120
Speaker 2: thing we want to do is miss or overlook.

496
00:25:07,800 --> 00:25:09,800
Speaker 1: Stamped You to forget about stamp That would be nice

497
00:25:09,800 --> 00:25:12,000
Speaker 1: to forget about stamp duty, but it is a very

498
00:25:12,040 --> 00:25:15,040
Speaker 1: expensive entry to property, all right. The other question I

499
00:25:15,080 --> 00:25:18,960
Speaker 1: received was when it comes to recommend it recommending consolidating

500
00:25:19,080 --> 00:25:21,879
Speaker 1: bad debt, you know, such as outstanding credit cards that

501
00:25:22,000 --> 00:25:23,760
Speaker 1: just don't seem to be ever you can never get

502
00:25:23,760 --> 00:25:26,720
Speaker 1: on top of, or you know, buy now, pay later

503
00:25:26,800 --> 00:25:30,720
Speaker 1: that's caught you by surprise, or even like personal ozed

504
00:25:30,760 --> 00:25:34,359
Speaker 1: car loans that have you just not quite gone to plan.

505
00:25:35,040 --> 00:25:36,879
Speaker 1: How do you make sure that you if you're going

506
00:25:36,920 --> 00:25:38,639
Speaker 1: to consolidate them, how do you make sure that you

507
00:25:38,680 --> 00:25:41,280
Speaker 1: don't I guess, repeat history, or you make sure that

508
00:25:41,320 --> 00:25:44,080
Speaker 1: you actually get back on top of your finances again.

509
00:25:44,160 --> 00:25:47,240
Speaker 2: Look, the I would say, you know, just thinking about

510
00:25:47,440 --> 00:25:51,240
Speaker 2: the you know, deciding when the time is to consolidate them. Say,

511
00:25:51,240 --> 00:25:53,600
Speaker 2: for example, you've got a credit card and all you're

512
00:25:53,640 --> 00:25:55,760
Speaker 2: doing is making the minimum payment each month on that

513
00:25:55,880 --> 00:25:59,280
Speaker 2: and not making inroads to reducing it faster. That would

514
00:25:59,280 --> 00:26:01,760
Speaker 2: indicate to me that it's going to take you ten

515
00:26:01,840 --> 00:26:05,040
Speaker 2: years to pay off that credit card. So twenty two

516
00:26:05,040 --> 00:26:08,720
Speaker 2: percent interests that's not good. No, So that'd be the

517
00:26:08,760 --> 00:26:11,960
Speaker 2: time if you're not making anything more than the minimum payments.

518
00:26:13,119 --> 00:26:15,080
Speaker 2: If you're looking to do it, ideally, you'd want to

519
00:26:15,119 --> 00:26:17,720
Speaker 2: do it in a separate loan split to your home loan.

520
00:26:19,320 --> 00:26:22,560
Speaker 2: Consoliding those into the one home loan is okay if

521
00:26:22,640 --> 00:26:25,480
Speaker 2: you start making inroads, but it's good well more, particularly

522
00:26:25,480 --> 00:26:27,840
Speaker 2: if we're talking about a car loan it's sold the carline.

523
00:26:27,840 --> 00:26:29,240
Speaker 2: You don't want to be paying a car loan off

524
00:26:29,240 --> 00:26:32,080
Speaker 2: over thirty years gosh. So separating the two I like

525
00:26:32,119 --> 00:26:34,600
Speaker 2: to recommend so that you can aggressively try and pay

526
00:26:34,600 --> 00:26:37,000
Speaker 2: the car loan or the consolidation loan off faster.

527
00:26:37,200 --> 00:26:39,720
Speaker 1: It also makes you more honest because consolidating into the

528
00:26:39,720 --> 00:26:43,520
Speaker 1: homelan will and I'm purely thinking about the psychology of money here. Yeah,

529
00:26:43,920 --> 00:26:47,440
Speaker 1: it kind of like sweeps it under the map, the Yeah,

530
00:26:47,480 --> 00:26:49,600
Speaker 1: whereas you can see that loan sitting there separately, and

531
00:26:49,640 --> 00:26:52,480
Speaker 1: it's almost like, you know, a bit of a flick

532
00:26:52,520 --> 00:26:55,919
Speaker 1: where you're like, Okay, that's the raw reality of my

533
00:26:56,320 --> 00:26:58,840
Speaker 1: silly purchase of a car that's appreciating asset that I

534
00:26:58,880 --> 00:27:01,840
Speaker 1: borrow it and should have done. I'll take ownership of that,

535
00:27:01,960 --> 00:27:03,840
Speaker 1: learn and grow and be wiser. So I must pay

536
00:27:03,840 --> 00:27:05,400
Speaker 1: that off as quickly as possible as a priority.

537
00:27:05,560 --> 00:27:09,160
Speaker 2: Definitely great points. Yeah, being responsible and there decisions you made,

538
00:27:09,920 --> 00:27:12,000
Speaker 2: so yeah, if you're hiding it into your mortgage, you're right,

539
00:27:12,119 --> 00:27:13,120
Speaker 2: it's the truth. Hurt.

540
00:27:13,240 --> 00:27:15,359
Speaker 1: But this is where we learn the most about money,

541
00:27:15,400 --> 00:27:18,520
Speaker 1: and you know we're open to it. Become wiser and smarter.

542
00:27:18,800 --> 00:27:21,000
Speaker 1: All right. The next, second, last question, This was a

543
00:27:21,080 --> 00:27:24,240
Speaker 1: brilliant question and it was from someone who has ADHD

544
00:27:24,920 --> 00:27:27,800
Speaker 1: like myself, and I thought the discussion was brilliant. Why

545
00:27:27,840 --> 00:27:31,560
Speaker 1: hadn't thought of this asking this myself to help reduce temptation? Well,

546
00:27:31,600 --> 00:27:35,920
Speaker 1: remove temptation? Can you reduce your limits slash available funds

547
00:27:36,160 --> 00:27:39,320
Speaker 1: so that you don't get tempted to spend it? This

548
00:27:39,400 --> 00:27:43,199
Speaker 1: would be a strategy for people with ADHD in managing

549
00:27:43,240 --> 00:27:43,879
Speaker 1: their mortgage.

550
00:27:44,000 --> 00:27:47,600
Speaker 2: Yes you can. It's just a fine call to your bank. Basically,

551
00:27:47,640 --> 00:27:49,880
Speaker 2: requesting them to reduce the limit. And you know, that's

552
00:27:49,880 --> 00:27:51,679
Speaker 2: if you don't want to do debt recycling, because if

553
00:27:51,680 --> 00:27:54,000
Speaker 2: you've built up that redraw in your line by paying

554
00:27:54,040 --> 00:27:56,640
Speaker 2: additional lump times off, that's great. If you don't want

555
00:27:56,640 --> 00:27:59,119
Speaker 2: to debt recycle, call the bank up, get them to

556
00:27:59,119 --> 00:28:01,680
Speaker 2: reduce the limit. Downside to that is that if you

557
00:28:01,760 --> 00:28:04,000
Speaker 2: then had an emergency and needed the money, you can't

558
00:28:04,000 --> 00:28:04,360
Speaker 2: get it.

559
00:28:04,320 --> 00:28:07,680
Speaker 1: Back, you would reapply that to reapply, that's right.

560
00:28:07,760 --> 00:28:10,960
Speaker 2: But if you're doing it to reduce temptation stop that spending,

561
00:28:11,000 --> 00:28:13,160
Speaker 2: then yeah, that's certainly an option. You can just call

562
00:28:13,200 --> 00:28:13,840
Speaker 2: and cancel it.

563
00:28:13,960 --> 00:28:16,520
Speaker 1: Yeah, and you don't have to reduce all that remove

564
00:28:16,560 --> 00:28:18,000
Speaker 1: all of that money. You might have to say seventy

565
00:28:18,040 --> 00:28:20,920
Speaker 1: thousand dollars in your redraw facility or offset account. You

566
00:28:20,960 --> 00:28:23,240
Speaker 1: might reduce it by fifty thousand, so you still have

567
00:28:23,280 --> 00:28:26,119
Speaker 1: twenty there. Correct then, but it is definitely I would

568
00:28:26,200 --> 00:28:29,359
Speaker 1: imagine a great way of just removing that temptation or

569
00:28:29,359 --> 00:28:32,639
Speaker 1: reducing that temptation to go and blow it. And you know,

570
00:28:32,800 --> 00:28:34,320
Speaker 1: but obviously got to make sure you still have your

571
00:28:34,320 --> 00:28:35,520
Speaker 1: emergency money set aside.

572
00:28:35,560 --> 00:28:38,360
Speaker 2: One d per and that's when you see people paying

573
00:28:38,360 --> 00:28:40,800
Speaker 2: off their line really quickly, getting rid of redraw without

574
00:28:40,800 --> 00:28:43,520
Speaker 2: spending it or using it, because you generally find find.

575
00:28:43,280 --> 00:28:45,479
Speaker 1: A way well, there's always something to go.

576
00:28:45,800 --> 00:28:49,040
Speaker 2: Percent of the market would find a way to spend.

577
00:28:48,800 --> 00:28:52,040
Speaker 1: It, exactly. And look, I have myself personally before I

578
00:28:52,080 --> 00:28:54,000
Speaker 1: met Tom and before we combine our flandswer is that

579
00:28:54,080 --> 00:28:56,400
Speaker 1: something I definitely did was every six months I would

580
00:28:56,400 --> 00:28:58,160
Speaker 1: call the bank and say, can you just reduce it?

581
00:28:58,200 --> 00:29:00,000
Speaker 1: And I was only ever asking like small amounts like

582
00:29:00,120 --> 00:29:02,480
Speaker 1: ten fifteen thousand dollars at a time. And I remember

583
00:29:02,760 --> 00:29:04,840
Speaker 1: the consult saying you're sure about this, and I was like, yes,

584
00:29:04,880 --> 00:29:06,040
Speaker 1: please reduce it.

585
00:29:06,520 --> 00:29:10,120
Speaker 2: On a handbag, sorry, because you had your on a handbag.

586
00:29:10,360 --> 00:29:13,480
Speaker 1: Yes, that is true, but you know, sometimes a handbag

587
00:29:13,520 --> 00:29:16,680
Speaker 1: is very much in a necessity and I will admit

588
00:29:16,720 --> 00:29:20,160
Speaker 1: some of my handbag's actually gone up in value. Now.

589
00:29:20,480 --> 00:29:22,800
Speaker 1: The final question is is what are your thoughts on

590
00:29:22,840 --> 00:29:25,800
Speaker 1: credit cards with home loans where you put everything on

591
00:29:25,840 --> 00:29:27,840
Speaker 1: a credit card and then pay it off the end

592
00:29:27,880 --> 00:29:30,760
Speaker 1: of the month. Does it really work in reality or

593
00:29:30,760 --> 00:29:34,040
Speaker 1: do people spend way more and not really get ahead,

594
00:29:34,040 --> 00:29:36,080
Speaker 1: Which is actually the perfect question coming off the back

595
00:29:36,120 --> 00:29:36,840
Speaker 1: of our last one.

596
00:29:37,200 --> 00:29:40,000
Speaker 2: Yeah, and these are the conversations I like to have

597
00:29:40,040 --> 00:29:42,560
Speaker 2: as well. It does work, but it doesn't work, and

598
00:29:42,600 --> 00:29:48,120
Speaker 2: we out no, well, it works if you're a good budget.

599
00:29:48,320 --> 00:29:51,320
Speaker 2: If you don't budget and you spend more than it

600
00:29:51,360 --> 00:29:53,640
Speaker 2: doesn't work because if you use it properly, you earn

601
00:29:53,680 --> 00:29:56,280
Speaker 2: points on your card, you save interest on your homeland

602
00:29:56,320 --> 00:29:58,800
Speaker 2: because your wages are sitting in your officet account or

603
00:29:58,800 --> 00:30:03,120
Speaker 2: your redrawal. But I'd always recommend getting a credit card

604
00:30:03,160 --> 00:30:07,240
Speaker 2: limit that is equal to your monthly living expenses budget,

605
00:30:07,680 --> 00:30:10,640
Speaker 2: so that basically that's the thing that stops you from

606
00:30:10,680 --> 00:30:14,080
Speaker 2: going over. But you know, it's not as encouraged. I

607
00:30:14,120 --> 00:30:16,440
Speaker 2: don't encourage it as much as I used to because

608
00:30:16,480 --> 00:30:20,120
Speaker 2: of the in reality it's not being used to its

609
00:30:20,520 --> 00:30:23,160
Speaker 2: full effect. So you don't trust yourself with a credit

610
00:30:23,200 --> 00:30:25,680
Speaker 2: card and you're one of those people that can't pay

611
00:30:25,680 --> 00:30:26,640
Speaker 2: it off in full every month.

612
00:30:27,800 --> 00:30:30,160
Speaker 1: Probably not for you, I have to say, as a

613
00:30:30,200 --> 00:30:35,200
Speaker 1: financial planner, not once have I ever seen this strategy work.

614
00:30:36,040 --> 00:30:40,200
Speaker 1: Everyone spends more and they have this kind of laser

615
00:30:40,280 --> 00:30:43,200
Speaker 1: fair squandalous mindset where they're like, it's fine to put

616
00:30:43,240 --> 00:30:45,320
Speaker 1: on the credit card, and each month the credit card

617
00:30:45,840 --> 00:30:47,920
Speaker 1: bill is getting bigger and bigger because they have this

618
00:30:48,120 --> 00:30:50,120
Speaker 1: like so wid it's fine, just put it on the

619
00:30:50,160 --> 00:30:54,440
Speaker 1: credit card mentality, and quickly things spiral out of control.

620
00:30:54,520 --> 00:30:57,040
Speaker 1: And it's not until you know things going wrong where

621
00:30:57,040 --> 00:31:00,640
Speaker 1: credit cards being hit with interest charges and eight fees

622
00:31:00,720 --> 00:31:03,360
Speaker 1: and you know there's not enough to eat the mortgage repayment,

623
00:31:03,560 --> 00:31:05,720
Speaker 1: and you know they put their hands up panicking, We've

624
00:31:05,760 --> 00:31:08,320
Speaker 1: got to just strip everything, go back and essentially go

625
00:31:08,360 --> 00:31:11,760
Speaker 1: back to simplicity. So and yes, they've got a whole points,

626
00:31:11,800 --> 00:31:13,520
Speaker 1: but they can't afford to go on the holiday and

627
00:31:13,600 --> 00:31:15,600
Speaker 1: use those points because they've you know, this got them

628
00:31:15,640 --> 00:31:18,520
Speaker 1: into a really sticky situation. But I mean that is

629
00:31:18,640 --> 00:31:21,120
Speaker 1: my personal experience, and I don't say that in a

630
00:31:21,160 --> 00:31:23,520
Speaker 1: negative way, but I say it just I guess a

631
00:31:24,120 --> 00:31:26,760
Speaker 1: word of warning to listeners, like be careful of this.

632
00:31:27,280 --> 00:31:29,520
Speaker 1: I don't. I think that's a very clever product created

633
00:31:29,560 --> 00:31:32,640
Speaker 1: by the bank and you know, very smart, clever people

634
00:31:32,640 --> 00:31:34,360
Speaker 1: and marketing teams sitting around a boardroom.

635
00:31:34,480 --> 00:31:37,400
Speaker 2: But and then they send out automatic limiting crease.

636
00:31:38,640 --> 00:31:40,640
Speaker 1: Yeah, it just it just I've seen it backfire, and

637
00:31:40,680 --> 00:31:43,760
Speaker 1: I'm probably aggressively passionate about why I don't think it works.

638
00:31:43,800 --> 00:31:47,560
Speaker 1: And I like simplicity, but yeah, it's on paper it

639
00:31:47,600 --> 00:31:48,040
Speaker 1: does work.

640
00:31:48,240 --> 00:31:50,680
Speaker 2: Yeah, and look I see a lot more than you obviously,

641
00:31:50,680 --> 00:31:53,920
Speaker 2: so I do see a lot that work. But yeah,

642
00:31:55,320 --> 00:31:58,160
Speaker 2: it's not it's not something that you can hang your

643
00:31:58,200 --> 00:32:00,760
Speaker 2: hat on that's going to get you well well ahead

644
00:32:00,760 --> 00:32:03,600
Speaker 2: on your mortgage. So it's only small, small bit tier

645
00:32:03,680 --> 00:32:05,400
Speaker 2: in there. But so if you're not very good with

646
00:32:05,440 --> 00:32:07,400
Speaker 2: credit cards and budgeting, don't do it.

647
00:32:08,400 --> 00:32:10,200
Speaker 1: All right, Adam, As always, thank you so much for

648
00:32:10,240 --> 00:32:13,320
Speaker 1: coming in this morning. It's always I love these conversations

649
00:32:13,360 --> 00:32:14,920
Speaker 1: with you, as I do never I hope you up

650
00:32:14,920 --> 00:32:17,160
Speaker 1: the phone and cally, which is all the time. But

651
00:32:17,320 --> 00:32:20,400
Speaker 1: these are such valuable bits of information and you know,

652
00:32:20,480 --> 00:32:23,040
Speaker 1: nuggets of golden words of wisdom to impart with all

653
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Speaker 1: the listeners about how to use their mortgage wisely, how

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Speaker 1: to actually use their mortgage to get ahead financially, how

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Speaker 1: to achieve their goals and dreams, but also how to

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Speaker 1: achieve them in a sensible, wise proactive way that really

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Speaker 1: does help make a big difference. So thank you so

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Speaker 1: much for taking your time out of the day to

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Speaker 1: come in and you know, answer everyone's questions as part

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Speaker 1: of our ask Adams.

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Speaker 2: Thanks for having me Kenna.

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Speaker 1: I love it, and as always, if anyone wants to

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Speaker 1: speak to Adam, please feel free to reach out directly

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Speaker 1: to him his email and mobile phone number. I'll pop

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Speaker 1: in the podcast notes. So, and did it remind you

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Speaker 1: I have absolutely nothing, no benefit at all? Actually I will.

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Speaker 1: I will admit Adam shoutowed me a free coffee this morning.

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Speaker 1: That will be the one benefit that I get from

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Speaker 1: this episode and all my others. But please have a

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Speaker 1: complete upfront transparency around that. And again to remind everyone

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Speaker 1: that everything we talk about is for educational purposes only

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Speaker 1: and general advice. Now, everyone, thank you so much for

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Speaker 1: listening to this morning's episode on Sugar Mama's Fireplay. If

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Speaker 1: you can take a moment to leave me a rating

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Speaker 1: and a review, I would greatly appreciate it. And in

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Speaker 1: the meantime, please stay motivated, empowered, and never stop seeking

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Speaker 1: new ways to achieve your financial goals and dreams, no

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Speaker 1: matter how big or how small they may be. I

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Speaker 1: believe in you, and this is Sugar Mama's Fireplay