Take full advantage of the rate cut!

Last week, the Reserve Bank of Australia decided to lower interest rates by a whole 1%, which is only now being passed on, reluctantly, by the lenders to your clients. No doubt, you may have spoken to clients regarding this already by way of PR, but this raises some very attractive commercial opportunities to your existing client base.
All that is needed is a letter stating that they are now saving 1% on their home loan and that affordability is starting to come back into the normal realms of what we are used to. Now that clients are 'used' to paying a certain amount each month, they should continue to do so for two reasons.
One is that, depending on how they are structured, they will obviously pay more off their home loan;
And Two, they should consider some form of 'Wealth Protection' to cover their existing loan. With the money they are saving from teh interest rate cut, they can fund Life and Income Insurance without a worry. And in most cases, there are tax deductions available by doing this.
This gives you, the broker an opportunity to get your name and brand in front of your clients once again, and giving them valuable advice on their mortgage and direction on how they can best utilise their savings. If you would like to find out more about how to administer insurance in your business, Mortgage Shield can help you make it simple and cost effective. Simply visit www.mortgageshield.com.au