We at Finance Mutual Australia (FMA) could help you save $70,000 over the life of your mortgage, here’s how.
With over 2.3 million households in mortgage stress, over 1.5 million households dependent on credit cards to survive, and variable/fixed rates at all time lows, there hasn’t been a better, or more important time to refinance. If you, or someone you know are currently facing mortgage stress let them know about Finance Mutual Australia and the MutualRewards program. We could help you almost $70,000 and over 2 years on your home loan.
How we can help you save almost $70,000 and over 2 years on your mortgage.
Assuming you have a 30 year mortgage of $450,000 with an interest rate of 3% and you refer 6 people in the first year of your mortgage you would save $2,543 and 2 months over the life of your mortgage. Make this an annual habit and you would save $69,942.27 and 2 years, 2 months over the life of your mortgage.
Note that this example is for demonstrative purposes only and the outcomes will differ widely depending on your particular circumstances. As a general guide, if your interest rate, or your mortgage size are larger than the figures given in the example, you will stand to save even more. The opposite is true if your mortgage is smaller and your interest rate is lower.
How referring to Finance Mutual Australia saves you money
MutualRewards is a reward program we created to help you, our client, save money and pay off your mortgage faster. Every time you refer someone to Finance Mutual Australia and they use our services, you will earn yourself a $150 reward. Your every 6th referral will earn you a bonus lump sum of $1000 which means that for every 6 referrals you will earn $1750.
You can choose to have these paid directly towards your mortgage which helps you pay down your mortgage faster and avoid interest costs. This is exactly how a payment of $1750 saves you $2543 over the life of your mortgage and shortens the time to repay by 2 months.
Make this an annual habit, referring at least 6 people to Finance Mutual Australia every year and you save $70,000 on the average South Australian 30 year loan of $450,000 at 3%. Refer even more and you will save more.
How to find 6 people to refer?
You can refer anyone to Finance Mutual Australia, we help people with all sorts of loan types. For example we could help your friends with the following:
- Refinance their existing home loan, car loan, business loan, or equipment loan
- Find their first home loan, car loan, business loan, or equipment loan.
- Consolidate their credit card debts, and car loan debts into their home loan saving them interest in the process.
It’s called MutualRewards for a reason, your friends will also earn $150 when they use our services when referred by you. In addition to that $150 your friends will very likely also be able to save thousands of dollars by refinancing and getting a cheaper mortgage. For example, with 1.5 million Australian households living with a credit card it’s likely you know someone who could benefit from our services.
The average credit card costs 20% in interest, and the average car loan costs 6% in interest, by refinancing these and consolidating them into your home loan you will reduce the interest cost to the home loan interest rate which currently are the lowest they have ever been for both variable rate mortgages and fixed rate mortgages . It’s a win win.
How it works
When you make a referral, both you and your friend will receive a reward from us once the loan has settled.
Any advice contained in this article is of a general nature only and does not take into account the objectives, financial situation or needs of any particular person. Therefore, before making any decision, you should consider the appropriateness of the advice with regard to those matters. Information in this article is correct as of the date of publication and is subject to change.
Contact us for advice tailored to your needs.
If you would like advice specific to your situation please do not hesitate to contact us.
If you, or someone you know has a loan that hasn’t been refinanced this year please do not hesitate to contact us.
If you require finance to buya house, car or invest in your business, please do not hesitate to contact us. We are experts at negotiating and finding the best mortgage deals out there.