Mortgage Options in Australia
June 27, 2010 by Editor
Filed under About Mortgages
There are many mortgage options available in Australia; home owners could be forgiven for feeling somewhat confused on the issue of which home loan would best suit them. However, once a home loan broker is consulted he will be able to help you sort through the maze. Mortgage brokers are trained to know what products are available from which lenders and once you have given the broker all your details, he will be sure to find a suitable mortgage. You may even have a loan, but are thinking of mortgage refinancing to get a better deal. Financial advisors will be able to help you here. They may also advise you to take out income protection so that if something happens and you are unable to continue working, you will not lose your home. Those who have home loans in Sydney may also consider life insurance in Sydney as a way of protecting the home if they or their partner should suffer a fatal accident or disease. While no one likes to think about such things, they do happen and the remaining spouse is left at risk of losing the home due to inability to meet the mortgage payments. In fact, trauma insurance may also be something to provide peace of mind. This is a cash payout if you have been diagnosed with one of the specified illnesses such as heart attack, cancer or stroke. There are many more illnesses included, but the exact diseases will depend on the insurer. Life insurance does not pay out for an illness suffered where the person will probably go back to work in a few years. Meantime, you still need to pay bills, so trauma insurance will help. There is also key man insurance which is designed to protect a business if one of the key employees becomes ill and cannot work, or dies suddenly. Key man insurance is paid to the business; not the individual.
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