Breaking the Stigma of Mortgaging Your Home
Something that we didn’t learn from our parents is how good an investment a house is. Most of the people who belonged in their generation had already bought a home of their own even before they had an established career. There’s a pretty simple explanation for this – it’s that they trusted the power of a mortgage. Unfortunately, with the existence of different kinds of loans, credit cards, and other forms of debts mortgages are frowned upon because of the stigma attached to it. This is the reason why millennials and gen Y workers have “buying a home” as one of the last things in their priority. With the increasing cost of living, more people opt to spend their money elsewhere rather than saving up and buying an expensive home. What most people don’t understand is having a mortgage to buy your very first home is actually one of the best investment ideas you could make while you’re still young. If you’re unsure about this, the experts at Pinnacle Finance and Property Group would be able to change your mind and break the stigma that comes with mortgage.
Mortgage is Loan You Can Afford
Having a loan can be daunting because it means you have a debt that you need to pay for X number of years. But choosing the right kind of loan could actually be more beneficial than you think. Imagine having a credit card and buying stuff on instalment for 0% interest with around 6 months to pay… it sounds so tempting and they make it seem so easy to pay off, right? Well, you can be wrong. What if an emergency strikes and you need a big sum of money to pay for it? One of the first things you’d consider is to push back on your credit card payments, but not even consider the ludicrous interest fees you’d have to pay off. It’s a total rip off! The great thing about a mortgage is that the interest rate to be given to you would greatly depend on how good your credit standing is. You may opt to pay for a larger down payment and get smaller monthly fees, or simply pay what you can but still have a fixed monthly fee that you could easily plan for. Yes, you can afford it because 5, 10 years down the road, your monthly fee would still be the same and your income would increase as you go up your career ladder.
Putting Your Eggs in Multiple Baskets
By applying for a mortgage when you buy your home, you would have the financial freedom to invest some of your income in more investments which could give you high earning potentials. Let’s say you have accumulated a total savings of £100,000. Rather than putting it all in the purchase of your first home… why not opt to just use half of it as down payment then get a mortgage? This way, you could invest the £50,000 in other channels, which could potentially give you 1) passive income, 2) faster income generation, and 3) higher income generation! If you invest this wisely, the pay-off you could get from your other investment channels could be used to pay your monthly mortgage repayment so that you wouldn’t have to stress about it.
Experts who Care
Not all people are very knowledgeable when it comes to managing their finances, and it’s completely okay. A lot of people are actually afraid to ask for help most of the time because well… some experts don’t really care that much about their clients. That’s why it’s important to choose the right partners for you especially if you’re on your way to buying your first ever home. One of the leaders when it comes to the Mortgage Brokerage industry is Pinnacle Finance and Property Group. They are experts in what they do and they have built relationships within the industry that would help them to get the best possible deals anyone could ever ask for. You might think that having industry leaders as your brokers might cost you much more money than you actually have to spend, well… that’s where you’re wrong. The people behind Pinnacle Finance and Property Group differs from other financing institutions in the market because even though they are highly skilled in the finance sector, their top priority when it comes to their service is customer care.
Giving you the best mortgage for your needs and circumstances is at the top of their priority list. But the number one guaranteed objective of each broker is to make you happy and give you pride that the hard-earned money that you would be spending will be worth every single pence. Whether you’re a first-time home owner or your moving into your second home, whether you’re self-employed or have the top position in your current office, whether you have a bad or good credit score, or whether you have an existing mortgage or not… choosing Pinnacle is the right move to make.