Personally, I’m not the biggest fan of all the scaremongering Personal Insurance adverts at the moment. They seem to drench the television, preying on the perceived negative sentiment in the market.
That said, I do think it is very important that a borrower at least consider the implications of their debt level on their spouse, family, etc. should something happen.
As a Mortgage Broker, I believe it is my responsibility to recommend that you talk to a Financial Planner though, it can be a very important and informative conversation.
Maybe just exchanging emails or a chat over a cuppa could be very helpful for you.
Do you need income, trauma or life insurance?
Do you have wills?
Is this an opportunity to sort your superannuation out?
Plus many, many other things…
There are many considerations really, many you or I would not necessarily even think about, but I prefer to consider them in a positive light, not the negative spin that hits us day in and day out on the television.
Buying a property is a huge undertaking, for those buying their first property it is probably the biggest single purchase they’ll ever make compared to their previous purchases.
All I’m saying, as with using me as your Mortgage Broker, is to make an informed decision. You’re not obligated to do any of the things listed above but at least if you get the information, you can confidently draw a line in the sand knowing you’ve considered all options. This just allows you to proceed forward without any anxiety and doubt which I’m sure we all want, really. Peace of mind is a great thing to have in any aspect of life.
I probably sound like a stuck record really, but to me, knowing you’ve made a decision you’re comfortable with, an informed decision, is absolutely paramount. Selfishly I want my clients to be with me for years to come, I want you to be totally comfortable with your decisions and sufficiently satisfied with my work, to return to me in the future and hopefully recommend your friends too.
You may or may not agree with my thoughts but at least you know them.
I can always improve the way I do things too so don’t be afraid to speak up if you disagree.