Is it time for a mortgage review?

Stick out your financial paperwork and say, “Ahhh!” It’s time for a check-up. Thankfully, this check-up doesn’t require you to face your weight on that maddeningly accurate doctor’s scale, or sit in a cold and drafty little room with an open hospital gown. Actually, it’s a mortgage check-up that’s in order, and making time for a quick review may yield some amazing results.

About 80% of Canadians visit their doctor at least once a year to help ensure they remain physically fit but far less are checking their financial fitness annually.

Life changes, families grow, job’s move, retirement objectives shift. There are any number of reasons why your mortgage and possibly your entire financial picture should be evaluated from year to year. Maybe there are no changes needed but if there are it’s better to identify them early.

The mortgage that you signed up for a few years ago may no longer be the best fit for you. Doing a financial check-up is a very smart thing to do annually. Many often just wait for the renewal letter before they look at their mortgage and then go back to their current lender without considering whether that mortgage meets their current needs.

There are so many things that a mortgage can do for you. It can help you become more tax efficient, build wealth for retirement, renovate your home, consolidate high interest credit card debt or perhaps invest in a business and so much more.

Don’t wait for your mortgage to come up for renewal and don’t wait until after you have made a major change in your personal situation. By reviewing annually you will ensure you stay financially fit.

Give me a call today at 250-826-3543 or email me at [email protected] so we can schedule your check-up. I promise it won’t hurt!

This article is written by or on behalf of an outsourced columnist and does not necessarily reflect the views of Castanet.