Mortgage brokers are often asked if we have crystal balls that we use to see the future. This question usually pops up when interest rates (or how best to set-up your loan) come up for discussion. Which is quite often in this line of work.

The truth is that as far as interest rate predictions go we get it right about as often as you do – so not very often at all!

I always try to steer the conversation toward a more certain subject, and the one thing that people can absolutely control: themselves and their own behaviour.

I’ll ask what your plans for the future look like and then we tailor your loan according to that – instead of some unknown and unknowable interest rate possibility that may never come to pass. It’s easier to make a prediction when you take that position.

However, I actually can see the future. And quite well. So, how do I do that?

It’s easy. The crystal ball I use is otherwise known as your bank statements. And believe me, they are very revealing.

When I’ve looked at the last six months of your savings history, spending history, credit card usage, mortgage repayments (and so on), I can make lots of judgements about you. Usually they’re good, sometimes they’re embarrassing.

For example:
  • Spotting a regular savings habit tells me that you have faith in the future and that it’s a future worth working toward. It tells me you are capable of sacrificing something today for a better world tomorrow.
  • Paying your bills on time and honouring any credit others have given you tells me that you are a person with integrity, that you’ll do what you said you would.
  • Not going over any agreed limits (overdraft, credit card limit etc) tells me you are self-reliant and reliable.
(Wait for the outcry…) I also know that shit happens sometimes and even the best of us aren’t 100% perfect all of the time.

They say it’s how you recover from life’s crappy moments that really defines you. And you know what, I can see that in your bank statements too.

Want to get some good insights about setting up a loan, or re-mortgaging without making guesses? Just drop me a line!

About Campbell Hastie

Cam is one half of Auckland based mortgage brokers, The Go 2 Guys.

He makes a living by sharing what he knows about mortgages with people, arranging mortgages for people and then insuring people.

He doesn't claim to know everything about mortgages himself which is why he teamed up with David Mercer — hence the ‘2’ in Go 2 Guys.

He writes posts regularly on his blog and has been told he has an ability to share his knowledge in a simple and sometimes memorable way.

Feel free to comment and ask any questions. Contact Campbell Hastie m: 027 697 7789.

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