Thorners October 2009 Newsletter
Mortgage interest Rates:
Interest rates continue to fluctuate and the gap is widening between the short term fixed and floating rates and the longer term fixed rates. Overseas pressure remains on long term funding and whilst short term rates are expected to remain stable over the next few months, predictions are that the floating rate could be back at 8% within 18 months.
It is also timely to remind you that it’s better to have consumer debt e.g. credit card balances & HP’s transferred to your home loan to make considerable interest savings.
Funding for rental properties and over 80% borrowing is tightening and you are encouraged to approach me to discuss any home lending you or your family may be considering.
KiwiSaver:
Have you and your family got your slice of the KiwiSaver cake yet? Membership continues to grow rapidly with total membership now close to 1.2 million people. The demographics are interesting with 17% of members under 18 years of age and 18% aged 55 plus.
KiwiSaver is a tremendous opportunity for every New Zealander whether you are a child or under the age of 65, even if already retired or not working.
If you or your family members are not a member or are in an IRD default scheme we should discuss how KiwiSaver could work for you. The benefits including the $1,000 kick start and Government contribution matching to $1,042 p.a. are hard to beat.
Life Insurance Premiums:
Everybody dislikes paying premiums and I am constantly told that clients are over insured but the widow or widower always says the cover could have been higher.
Options are now available to make premiums affordable over the longer term and are known as level premiums. There are considerable long term premium savings to be made utilising level premiums and I should also note that the premium is guaranteed for the term of the contract so will not be subject to any changes following the introduction of new Life Industry tax changes being implemented from July 2010.
Why would you not transfer to this? This is the question I am asking everybody. Let me provide you with some level life premium options to show you the premium savings that can be made over the life of the policy.
Competitions:
Sovereign have a great offer to clients where they can enter to win an $8,000 holiday plus $2,000 spending money. Just visit www.sovereign.co.nz and follow the home page link.
I am available to discuss your insurance and investment needs in what is a difficult time for many of us at the moment so please feel free to contact me if you have any questions. My personal email is denis@thorner.co.nz or ph 04 528 8088.
I look forward to hearing from you soon.
Kind regards
Denis
Click here to view our disclosure statement.
Click here to email Thorners or Call Us on (04) 528 8088
Easing The Squeeze – 3 Key Review Areas
The current financial climate is proving to be a difficult time for many of us at the moment and I am finding that many of my clients are trying to get through by juggling their finances but they are still not making headway.
I am here to help you and my valued clients and I have taken the opportunity to note three key areas where I can offer assistance to review your circumstances.
Many of us have mortgages on a variety of interest rate options. You may be unaware but a considerable portion of my business involves home loans. I am able to assist with new purchases, top ups to clear existing high interest rate HP’s and credit cards, refinancing existing home loans and advising on fixed interest rate rollovers.
I can currently obtain 12 month fixed rate lending at *5.80% p.a. and a floating rate of *6.80% p.a. with no application fee for refinances, no ongoing re-fixing fees for fixed rate lending and no bank transactional fees. Rates continue to move and we can expect further movement in the next few days. You should contact me before making any home lending decisions.
Call me to discuss your home loan options – you may be surprised how simple the process to change provider can be and the amount of the savings to be made from some subtle restructuring.
We all want to provide cash for our loved ones by having a combination of Life, Trauma, Medical and Disability Income insurance but balancing premiums against our budgets can be an ongoing battle.
In recent times, many insurers have reviewed their premium structures and I am able to offer some extremely competitive pricing especially for top up Life and Trauma Insurance. By reviewing your Medical insurance excess and the wait period on Disability Income cover, it may also be possible to extend the extent of your cover.
If you are looking for large long term Life insurance premium savings and the ability to retain policy affordability well into retirement, then you need to be on the “Level Premium” option for some of your Life cover.
Please allow me to quote and show you the difference levelling can make to your life premiums.
The membership of KiwiSaver continues to grow with over 900,000 current members. I believe in the benefits of KiwiSaver and feel only those Kiwi’s who do not understand it are not members.
From 1 April 2009 members will be able to contribute 2% of their income, down from 4%. This increases affordability and you should discuss your options with me either before joining or before altering your contribution rate.
I would also like to point out that the membership opportunities for children and the nearly retired under 65 year olds are tremendous. Where else can you get $1,000 for free and no need to contribute further if you are not working? Self employed workers not on a PAYE deduction basis for their tax also have the opportunity to contribute as little as $20 per week to get the Government’s match of up to $1,043 p.a..
Speak to me soon about the benefits of KiwiSaver for your personal family situation.
These are only three key areas where I may be able to help you to “Ease the Squeeze”. My website www.thorner.co.nz contains other information and I would recommend to you and your family to browse the information and informative blogs on the website
As an incentive to view the web site, I am offering a free scratchy to the first 50 people to complete the Lifestyle Check and to respond by answering the following question using the “click here to email us” line at the end of the Lifestyle questionnaire…
How many questions are there in the web based Thorners Lifestyle Check?
Any client having a new “Level” Term Life policy issued before 30 April 2009 is also in the draw for a carton of Whitehaven wine – there has never been a better time to talk to me!
As you can see – there is plenty of scope for optimism this year and I am here to help you, your family and your friends. Please refer anybody to me that may be suffering financial distress.
I look forward to hearing from you soon to discuss your options for 2009.
*Mortgage interest rates are subject to change and applications are subject to meeting lenders application criteria and subsequent approval
** All investments are subject to receiving a copy of my Investment Disclosure which is available free of charge from my website or office.
Click here to email Thorners or Call Us on (04) 528 8088
Click here to view our disclosure statement.
Click here to email Thorners or Call Us on (04) 528 8088
Enter To Win Free House and Contents Insurance Cover For A Year
All new business placed with Thorners between 5 September 2008 until 29 October 2008 puts you in the draw to win free House and Contents Insurance cover for a year compliments of Vero insurance. Renewals are excluded.
There has never been a better time to get a new insurance policy, mortgage, investment or to take out a KiwiSaver.
Email or phone us soon to make sure you are in the draw.
Click here to email Thorners or Call Us on (04) 528 8088
Click here to view our disclosure statement.
Click here to email Thorners or Call Us on (04) 528 8088
