Case Study: Mr H
MR H, a 37 year old Kiwi, married, with two young sons aged 22 months and 1 month. Mr H approached us for mortgage advice. He had been referred by a friend to another IFA in Singapore only one month previously who declined to give him mortgage advice, but took the opportunity to sell him a 27 year S$2,000 per month saving plan.
After meeting with him and reviewing his situation, this is what we did:-
- First we helped him and his wife arrange wills, so at least their children would be looked after if anything happened to them.
- Second we arranged some life assurance on him, so that his wife and children would be ok, financially, should he die
- We restructured the mortgage on his UK property, saving him money on it and making it more tax efficient
- We then arrange finance so he could buy the property he wanted in Australia
- We also helped him consolidate his six separate bank accounts so that they were less scattered and enabled better management of his cash and cheaper transactions and then arranged a short term savings strategy to help build up his short-medium term savings.