Its that time of year again, when its out with the old and in with the new when it comes to your finances. Whether you are ringing in the new financial year with a clear head or with a financial hangover now is the perfect time to review your finances and make sure you are on the right track for FY2020.

To help you on your way, the team at Blackburne Mortgage Broking have compiled a checklist of all the New Financial Year’s Resolutions that you should be making.

Review Your Home Loan

This one should be top of your list, particularly since the recent Reserve Bank rate cuts have given us historically low interest rates in the market. Whether it be a full review of all your banking or just a quick health check on your loan, checking in with your mortgage broker is a must. There are not only great deals on offer but some enticing incentives available from lenders eager to secure your business.

Review Your Cost of Ownership on Investment Properties

The investment lending market has changed significantly in recent years and a structure that was right for you previously may not be the best strategy now for maximising your investment returns. If you have not discussed with your mortgage broker about restructuring your investment loans and considering lower principal and interest rates, then now is the time to do it.

Have you also reviewed the market to see if you are getting the best deal from your Property Manager? You need to look no further than our partners a Blackburne Property Management. Their team are committed to providing premium service at competitive rates and we are happy to put you in touch with them if you wish to discuss your property management options.

Get in the Know

The Blackburne Mortgage Broking Team are a great resource when it comes to learning about how to manage your finances more effectively and becoming debt free quicker. Whether it be tips on how to use your offset account better, budgeting and saving strategies or simply how to pay down your debt efficiently, the brokers can tailor a plan specific to your goals and current scenario.

Review with a Financial Planner

Taking the time to review with a good Financial Planner is crucial. It’s prudent to ensure that your insurances are adequate, and your superannuation is supercharged for your retirement. Your planner will map out a plan to help you not only reach your financial goals but provide the right safeguards are in place for your loved ones should the unforeseen happen. We have the industry leading team at Wealth Protect Financial Planners on call to assist all our clients. Contact us if you would like to be referred to them for a complimentary review of your position.

The new financial year is a great time to look at how your finances are travelling and select reset on anything that’s no longer aligned with your long- and short-term goals. Your Blackburne Mortgage Broking team can put you on the right track with your New Financial Year’s Resolutions and partner with you to make FY 2020 your best financial year yet.