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Welcome to Bruce Brammall Financial

Learning to love your mortgage

When you decide that you really hate something, it's funny how you can see all of the faults so much more clearly

Reviewing your mortgage - using the rates and features available with lending products to make sure you're making the most of your mortgage and are going to pay it off sooner.

This questionnaire is designed to allow you to test to see if you are making the most of your current banking relationship, whether you have a good, modern lending product, or whether you could do with some fine tuning. (Importantly, it is not advice!)


Please fill in the following questionnaire. Your score will be tallied for you and a result given to you when you click submit.

So, let's get on with question 1!

  1. What interest rate are you paying on your mortgage?
    1.  Less than 4.4%?
    2.  Between 4.4% and 4.6%?
    3.  Between 4.6% and 4.8%?
    4.  More than 4.8%
  2. Does your current loan have an offset account?
    1.  Yes
    2.  Yes, but I'm not really using it
    3.  No
  3. Do you have other "savings" accounts outside of your offset account?
    1.  No, all of my savings are in my offset account
    2.  Yes, but most of my savings are in my offset account
    3.  Yes, most of my savings are in outside accounts
  4. Do you pay your credit card off in full, every month?
    1.  Yes, in full, every month
    2.  No, but I do most months
    3.  No, I usually only pay a little more than the minimum.
    4.  My credit card debts are causing me distress
  5. Do you have all of your income/salary paid into the offset account?
    1.  Yes
    2.  Most, but not all
    3.  Some, but mostly not
    4.  No
  6. How many credit cards do you have?
    1.  0
    2.  1-2
    3.  3-4
    4.  5+
  7. Add up the combined credit limits of those cards. Now divide that by the household income (either yourself or both of you) and convert to a percentage. For example, your card limits add up to $30,000 and your household income is $120,000. ($30,000/$120,000 x 100 = 25%) Which of the following percentage ranges do your card limits fit into?
    1.  0% to 20%
    2.  20% to 40%
    3.  40% to 70%
    4.  70% to 100%
    5.  100%
  8. Does your loan have a redraw account
    1.  Yes and I have some savings in there
    2.  Yes, but I don't have any/much savings there
    3.  No
  9. Do you have any investment loans?
    1.  Yes, we have considerable investment loans
    2.  Yes, but I don't have any/much savings there
    3.  No
  10. Do you feel like you are saving money each month, or getting ahead on your mortgage repayments (potentially with offset and redraw accounts)?
    1.  Yes, our savings are growing almost every week/month
    2.  No, but we're not going backwards
    3.  No and we are going backwards