Top brokers still see a prominent place for fixed-rate mortgages
Paul Fuller, national Mortgage Broker of the Year 2011 winner and who is part of the Prosper Group, says the decision whether to fix or float ones mortgage isn't just a matter of looking at what's happening in financial markets.
"It's about understanding more about your clients, what their goals and aspirations are and what their stage in life is, how many kids to they have," Fuller says.
"Can they afford interest rates to rise? Are they down to one income?"
Fuller says rather than quoting percentages to his clients, he works it out in dollar terms. Such as, if a client decides to fix for two years, it will cost them X more dollars than the current floating rate or if they stay on floating rates and the Reserve Bank starts raising interest rates, it will add X dollars to their interest rate bill.
Click the button below to subscribe and will have free unlimited access for a limited time to full article and all other articles on the site.
You will also be able to comment on articles on Good Returns.
![[The Wrap] What the heck is happening at the FMA?](https://goodreturns.publit.io/file/c_fill,w_300,h_200/a6c3bc06-6401-44de-96e2-286c090e132d.jpg)
