Down to work then – Looked through the current mortgages available. Two years ago, I secured them a deal at 4.49%. This time round, due to the work they’ve done to increase the value of the property, I found a suitable mortgage for them at 2.29% – saving over 2%! I also managed to reduce their mortgage term by eight years. No wonder Tony was so happy – that’s over £50 per month saved, alongside the enormous savings made by reducing the term – double whammy!
Feel pleased that I has reduced the term and saved them money on the new mortgage, I then had a chat about Tony and Cleo’s future plans – they were saving, such as they could (especially with Cleo going on maternity leave soon) for baby “paraphernalia” – buggies, cots, car seats and endless baby grows and outfits for all occasions!
In view of the impending family expansion, I advised that they needed to look at some protection for their home and new family. Tony agreed: “If anything happened to either of us, I’d hate to think of Cleo or myself and our baby losing our home if we couldn’t afford the mortgage repayments.”
As I had just saved Tony and Cleo £50 per month, I had created a budget which they could now use to make sure everything was financially secure.