Three conversations, three great results.

"We need to talk” may sound ominous in some situations.

However, in the world of loans and insurance, it can lead to a much happier outcome.

Here’s why.

In recent months we’ve had multiple discussions with clients that have led to big savings on their loan repayments and insurance premiums. We uncovered information that meant we could steer clients towards a solution they weren’t aware of.

The bottom line is that they were able to reduce the cost of their loans and insurance cover.

To understand how this works, here’s a bit of background.

Why do we need to talk?

There’s been an important shift in the way financial advisers work over the last few years. The government has introduced regulations via the Financial Markets Authority that require advisers to demonstrate they are acting in the best interests of their clients at all times.

We think this is great. It’s always been our philosophy.

That’s why we schedule regular conversations to check our clients still have the best mortgages and insurance for their evolving needs. We ask whether anything has changed (or might change), and we keep detailed notes.

On top of that, if you get in touch to arrange a loan, we need to make sure we understand the background to your request and not simply say, “Yes, here’s a loan.”

This can really work in your favour – as we’ll explain.

The home renovation loan that comes with 0% finance.

Recently, a client contacted us about a loan for home renovations. This is a common request because people are putting off house moves during the current era of economic uncertainty, and choosing instead to upgrade the house they already own.

We asked a few questions and discovered that the renovation plan included some items to improve energy efficiency. That’s great news, because if you’re borrowing to pay for things like double glazing, insulation and solar panels, we may be able to get part of the loan at 0%. The government is supporting lenders to subsidise these loans because it’s keen to see Kiwis saving energy.

Now, before you get too excited at the idea of a home renovation loan at 0% finance, I have to remind you that every loan is different and there are no

guarantees. There are specific conditions, which we’ll need to explain to you in person.

But that just underscores the importance of having the conversation. If we know the details of your project, we may be able to access alternative (i.e. cheaper) finance.

Long story short: Don’t just go to the bank and ‘put it on the house.’ Talk to us first.

The car loan that’s a better deal than dealer finance.

The second example is a client who wanted to buy a car.

She found one she liked and was about to sign a finance contract with the dealer but decided to check with us first.

It’s good that she did. The car in question was an electric vehicle, and it may be possible to get a cheaper rate from a lender who specialises in EVs.

Now I have to offer a disclaimer here: We’re not qualified to advise you on which car you should buy and whether an EV is the right choice. I know nothing about batteries and resale prices. I’m just saying that if I learn you’re buying an EV, then I may be able access finance at an interest rate that’s better than the car yard can offer.

It all starts with a conversation.

Cutting insurance costs without sacrificing cover.

The third example is a client who was sick of seeing their insurance premiums rocketing at a time of financial stress.

The kneejerk response in cases like these is to start cancelling policies. But this client decided to check in with us.

We undertook a full review of their cover and got an up-to-date view of their finances and life stage. As a result we able to spot some opportunities for savings, and reduce the premiums without sacrificing cover.

Result: Lower premiums and a happy client.

In other cases, we’ve been able to find out where clients are under-insured, and then adjust their cover to minimise the risk of bad news at claim time. Once again, it takes a conversation to identify the issue – and then we can fix it.

Our goal is always to make sure you have the right mix of loans and insurance to help you reach your goals.

I’ll leave you with this thought: When was the last time you reviewed your insurance cover?

It’s good to talk.

If you’re looking at a first mortgage, a re-mortgage, or a re-fix – talk to us early in the process.

If you’re looking at a loan for home renovations, to buy a car, or practically anything else – get in touch.

If something has changed in your life, like starting a family or changing your employment status – we need to talk.

It’s not about selling loans or insurance. It’s about finding out what’s in your best interests. Then we can get to work on your behalf.  

Just send me an email or book an appointment using the links below.

Or you can log into our calendar and book a meeting any time, by clicking on the link at the bottom of our emails.