The beauty of the Money Merge Account is that it can benefit
different people in different ways. Choose an option below to see how
the Money Merge Account can help with different needs and situations.
Different needs with which the MMA can help you
Repaying your mortgage early
Reducing monthly payments/consolidating other debts
Funding a major purchase (new car, holiday home, boat etc.)
Buying a second property
Planning for school fees or university
Coping with short-term ill health, unemployment, redundancy
or moving jobs
Planning for maternity
Short-term spending e.g. holiday, Christmas
Making the most of an inheritance, windfall, large bonus,
or maturing investments
Funding home improvements
Additional situations with which the MMA can assist
you
Self-employed
Young professionals
Young couple - first time buyers
Couple moving up the property ladder
Commission-based incomes
Irregular income
Older couple - children left home
Repaying your mortgage early
When repaying a mortgage, it's not the rate you pay that's most important.
What matters is the total amount of interest you pay over the term of
your loan. With the Money Merge Account, you use your income and savings
to reduce your loan balance and minimize your interest payments. This
means more of your money goes towards your principal balance each month,
helping you repay your mortgage years earlier and save thousands of dollars
in interest.
Reducing monthly payments/consolidating
other debts
The Money Merge Account is much more than just an accelerated mortgage
payment option. Other debts (e.g. credit card balances, personal loans,
overdrafts etc.) can be transferred to the Money Merge Account - which
means you benefit from paying less interest on all your debts instead
of expensive, unsecured rates. The reduction on your minimum monthly payments
can be significant.
And if you're concerned about rolling all your debts into one big balance, don't be. You'll be able to break your debts into individual repayment plans. So you can have a plan for your mortgage, a plan for your credit card balance, and a plan for your loan. We'll help you budget to pay off what you want when you want, and you'll be able to see each element of your debt falling month-by-month in line with your plans.
Funding a major purchase
(new car, holiday home, boat etc.)
The Money Merge Account can help in a number of ways - depending on whether
you want to build a lump sum of equity to fund a purchase, borrow the
money, or do a little of both.
Building a lump sum
Many mortgage programs on the market give you the chance to overpay your
mortgage each month. But if you're looking to save for a major purchase
(e.g. a holiday home, a car or a boat) at the same time, you haven't got
the flexibility to do so. The Money Merge Account lets you have your cake
and eat it too. It allows you to put money aside each month for the purchase
and use this money to reduce your balance while you build up the lump
sum.
With the Money Merge Account, you'll be able to set up a savings plan just for this. That way, the savings part of your balance can be seen separately from the rest of your Money Merge Account balance, and you can budget to build up the lump sum by the date you want.
Borrowing at a mortgage-style rate
Traditionally, if you haven't got enough saved for a major purchase like
a new car, your only option is to borrow the money. This usually means
taking out an auto loan or using a credit card, all at much higher interest
rates than you pay on your mortgage. The Money Merge Account is a much
cheaper way to pay, because everything is paid back at a very low mortgage-style
interest rate.
And you can set up a separate loan plan just for this. That way you can focus on paying this part of your Money Merge Account balance off as quickly or as slowly as you want, and you can check your overall plan whenever you like.
Buying a second property
Because the Money Merge Account is secured against your home, you can
usually spend up to 100% of the property value. So if you'd like to use
the equity in your home to buy a second property, it's ideal! You can
borrow at a very low mortgage-style interest rate while retaining the
flexibility to pay back how and when you like. Many lenders will charge
a higher interest rate simply because the money is for a second property,
but with the Money Merge Account, you can pay a much lower amount of interest
than traditional investment style interest rates.
And you can set up a separate payment plan just for this. That way you can focus on paying this part of your Money Merge Account balance off as quickly or as slowly as you want - and check your overall plan whenever you like.
Planning for school fees
or university
If you have young children, chances are you'll need to either save or
borrow enough money to get the children through school and university.
The Money Merge Account can help in both instances.
Building a lump sum
If you're looking to put money aside each month for the future, then one
of the best places for this is the Money Merge Account. In this way, the
money can reduce your interest charges on a day-to-day basis, and you
can simply draw on it when the time comes.
With the Money Merge Account, you'll be able to set up a savings plan just for this. In fact, the savings part of your balance can be seen separately from the rest of your Money Merge Account balance, and you can budget to build up the lump sum by the date you want.
Borrowing at a mortgage-style rate
Alternately, if you need to borrow the money, the Money Merge Account
allows you to release the equity in your house at a low mortgage-style
interest rate and with the least amount of hassle.
You can even set up a separate borrowing plan just for this purpose! The great thing about the Money Merge Account is that it gives you the flexibility to do what you like with your money. In many ways, you don't really have to think about whether you are borrowing or saving, because when you've got money, it can go in the Money Merge Account to reduce your balance. And when you need money, you can simply draw it out of the account.
Coping with short-term ill
health, unemployment, or job transferring
The flexibility of the Money Merge Account works both ways. It's not just
a vehicle to quickly repay your mortgage. When money's tight (e.g. if
one income disappears temporarily as a result of illness or loss in job),
then the Money Merge Account enables you to use your increased equity
build up to pay for the daily or monthly costs you incur until you are
able to get back on your feet financially. This way, you know you’ll
get back on track, come what may. We've got a dedicated team of account
managers on hand to talk through your options. You'll also be able to
use our online service to run a tight budget. It will let you analyze
where your money's going, plan your entire spending for the month, and
work out what you'll have left over, as well as set longer term plans
for repaying your loans.
The key thing is that the Money Merge Account gives you the financial flexibility you need to adjust to changes in your lifestyle - in a way that's right for you - without having to worry unnecessarily about unknown consequences.
Planning for maternity
The flexibility of the Money Merge Account can be used to cushion the
financial impact of a newborn baby. If one of you wants to take time off
work, then there are a number of options available, from reducing your
overall payment commitments for a time to providing the additional money
needed for those unforeseen expenses.
If you need to run a tighter budget, we can help you. Our online service will let you plan your entire spending for the month and work out what you'll have left over, even down to the penny if you want. You'll also be able to analyze where your money's going, so you can see at a glance where you can cut your spending. We can also help you set longer term plans for repaying your loans, taking into consideration the peaks and troughs of your income and expenditure over the coming years.
The key thing is that the Money Merge Account gives you the financial flexibility you need to adjust to changes in your lifestyle - in a way that's right for you - without having to worry unnecessarily about unknown consequences.
Short-term spending e.g.
holiday, Christmas
Most of us are used to getting out the credit cards when it comes to the
more expensive periods of the year, such as booking the summer holiday
or buying presents at Christmas. The Money Merge Account can take the
stress out of these things, allowing you to reduce your repayment commitments
for a time and make them up at a later date. Instead of hiking up your
credit card balance, you can simply spend a little more of your monthly
income, leave a little less in the Money Merge Account, and then just
get back on track as you go.
This means you're no longer tied to the usual 'receiving income/spending income' monthly cycle - you have the flexibility to cope with the peak spending periods of the year without the interest and expense that normally comes with them.
Making the most of an inheritance,
windfall, large bonus, or maturing investments
The Money Merge Account offers a better home for lump sums than any conventional
deposit account. By depositing them straight into the Money Merge Account,
you reduce your loan balance, so you pay less interest. The interest you
save by doing this is more than the interest you could earn in any other
savings account. And because it's interest saved rather than interest
earned, there's no tax to pay.
And the great thing is that the Money Merge Account comes with checks and a debit card as well, so you've got instant access to this money. You'll have a checkbook, debit card, telephone, and internet access all at your fingertips. There are no notice periods; you can simply draw on your money whenever you like and for whatever you want.
Funding home improvements
If you're looking to build that extension, then using the equity in your
home could be the most cost-efficient way of funding it. Because the Money
Merge Account is secured to your home you can usually spend up to 100%
of the property value and pay below market interest, so no more expensive
personal loans or finance agreements.
Self-employed
We recognize that being self-employed means you need something extra when
it comes to managing your money. That's why the Money Merge Account offers
you...
The chance to save thousands on your loan
With the Money Merge Account, you are able to pay less interest on all
your loans, thus slashing your monthly interest bill and putting an end
to expensive loans and credit cards. In addition, your income works to
reduce your loan balance on a day-to-day basis, so any money left unspent
in your account continues to save you interest over the lifetime of the
account. These savings run easily into thousands.
Greater flexibility
The Money Merge Account is much more than just an interest saving tool.
You can manage your payments in line with your cashflow, all without penalties
or charges. Pay more one month, pay less the next! It's entirely up to
you.
More control
With online access and complete telephone access, you can manage your
money how and when you want. You'll have one balance showing you exactly
where you stand and how far ahead you are of schedule. You can break down
your Money Merge Account any way you like, and you’ll be able to
plan your short-term and long-term spending in great detail.
The perfect home for your tax money
The fact that you're using money in the Money Merge Account to reduce
your balance and save interest, rather than earn it, means you don't pay
tax on it. This makes the Money Merge Account the perfect place to put
aside some money for the taxman. And when the time comes to pay the tax
bill, you just write a check to cover it. This way, your money is working
for you from the day it comes in to the day it goes out.
Young professionals
If you're just starting out in your professional career, chances are you'll
need a flexible solution for your finances. You can benefit from the flexibility
of the Money Merge Account in the early years of your professional life
because you're not tied to high traditional interest options. This gives
you the freedom to cater for the ups and downs in your spending. And as
soon as your salary increases and you start to earn bonuses, you can use
your surplus income to reduce your balances and save even more interest.
The flexibility of the Money Merge Account means that you can also use
your equity for the bigger purchases like a new car or a dream holiday,
rather than having to take out more expensive loans.
Young couple - first time
buyers
The Money Merge Account is designed to meet your financial requirements
as you go through life. It can help fund a wedding, a new car, or a holiday,
as well as allow you the flexibility to deal with the financial impact
of having a child. You can use the Money Merge Account to overpay on your
mortgage, thus building up equity in your home, which will mean a higher
deposit when moving to a bigger house in the future. If you can overpay
your mortgage from the outset, you will save the maximum amount of interest
in the long-term. You can spend up to 100% of your increased equity to
furnish your new home and cover other expenses. And if your home needs
improving, the Money Merge Account can be used to fund home improvements
further down the line.
Couple moving up the property
ladder amidst other life expenditures
The Money Merge Account can help you accelerate your rise up the property
ladder. It allows you to use your income and savings to reduce your balance
and build up equity in your home, so you can move to a bigger property
sooner. And if you move, the Money Merge Account can move with you. If
you have children, the Money Merge Account also offers you greater flexibility
in dealing with the extra financial strain of raising them. It can be
used to put money aside for school/university fees - so you get the benefit
of this money working to reduce your balances and save you interest. And
you can use the accelerated equity in the property to put your children
through school even while covering any other expenses. And you retain
the same flexibility in terms of repayment.
Commission-based income
The Money Merge Account gives you the flexibility to manage your finances
in line with your cashflow. So when you have more income, you can deposit
more and save more interest. When you have less income, you can deposit
less. You're no longer tied to the usual 'receiving income/spending income'
monthly cycle; instead, you have the flexibility to cope with receiving
a low annual income and high sporadic commission amounts, even having
that money available anytime you need it. And it saves you interest all
the while!
Irregular income
The Money Merge Account works particularly well if you're paid a small
salary but receive large sums in the form of bonuses or dividends during
or at the end of the year. You can manage the Money Merge Account in line
with your cashflow. You've also got the flexibility to deposit more when
money's available and less when money's tight. Any lump sums can also
work harder in the Money Merge Account, reducing your balance and saving
you interest.
Older couple - children
left home
The Money Merge Account allows you to use any surplus income you have
to accelerate the repayment of your mortgage. If you have any investments
- e.g. endowments, etc. - these can also be put into the account when
they mature to reduce your mortgage balance and save you even more interest.
You can also use the equity in your house to fund that holiday or luxury
you've always promised yourself. Your money is there until you need it,
but it reduces your loan balance and saves you interest in the meantime.
How much money can you save?
Contact Us for a FREE Mortgage
& Debt Payoff Analysis.
United First Financial, its software agents and subsidiaries provide Internet web based software and support services. United First Financial does not provide accounting, tax, legal, real-estate, mortgage, or investment advice. Interested parties should seek and consult with persons or entities licensed and qualified in those areas for advice relating to those matters. United First Financial is not liable or responsible for claims or representations made by any party which are not included in the Money Merge Account Limited Guarantee
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a Society of Debt and Bondage to a Nation of Financial Freedom and Hope"
~ United First Financial
copyright 2007