Relationships and mortgages! A story of love and money.

As the image suggests, it is a mutual decision to enter into a financial contract, but it is not as exactly as it seems.

The mutual decision is actually between yourself (whether partnered or not) and the lender. Very much like an old style marriage contract, both parties are obliged to honour the terms, including mutual respect and to fulfill certain obligations.

In this case, repay the loan in regular instalments over the agreed time period.

But what happens if the lender starts to become inflexible and uncompromising? What if that lender is offering better rates, deals( and more attention) to new customers than you? After all those years of commitment and dedication to the other party in the contract, you are being neglected. I wouldn't or couldn't make this up, the statistics have shown that Australians are paying over $4 Billion dollars in over priced home loan repayments to the major lenders. This isn't actually paying the loan off quicker, just more profit for the big banks and their CEO bonus packages. This little thing we had this year called the Royal Commission into banking showed exactly that. Like an abusive partner, (we all had that boyfriend or girlfriend )with sociopath and narcissistic tendencies. The banking CEOs denied everything, covered everything up and tried blaming someone else ( us brokers). The evidence was documented and laid out for all to see.

It is starting to look a bit more one sided, like a very dysfunctional relationship, where you are being subtly abused and you tell yourself it's okay, it's not okay! The money your earn is yours and you are entitled to being treated fairly and respected for your worth, loyalty and integrity. Being ripped off by a partner is unacceptable! So why would you accept it from the bank? Maybe we need to talk about your relationship and find a way to make you happy.