January 16, 2017

Finance

Denise Lawrence

Call Denise on 07 5576 1675 or 614 02 259 212

Why choose a mortgage broker? why choose me?

  1. I am an investor as well as a broker.
  2. I specialise in structuring clients for multiple investments with minimised stress.
  3. I have access to a panel of lenders and can match you with the lender who best suits your needs.
  4. Each bank has it’s own set of lending criteria which may preclude you from borrowing with them.
  5. Your requirements are unique and recent bank policy changes may have narrowed your choice of lender.
  6. Multiple inquiries could adversely affect your ability to borrow.

FAQ

Why use a broker?

The best analogy I can offer is a kid’s shape sorter; The borrower is the shape and the lenders are the holes. If you are a triangle you need to find a triangular hole. You are not going to fit through the round or square or rectangular holes. A broker can meet you at the start of your journey, ascertain that you are a triangle and lead you to and through the appropriate hole. Employment – PAYG, Self Employed, Contract, Commission, Part-time, Casual, Overtime, Time in current employment, Contracts, Allowances. Every bank has a different slant on what it will allow for servicing. Every bank offers a variety of products, rates, features and fees. An home loan is a long term commitment so why not use my expertise to ensure that you are with the right lender and have the right product. Individual inquiries could adversely effect your ability to borrow. A broker can save you time (a one stop shop) and can unravel the mystery surrounding home lending.


Can I borrow 100%?

Not if you are only offering the lender one security (property). Some lenders will offer a 95% lend and will capitalise the mortgage insurance this high percentage lend will incur. If you have an existing property you can use part of the equity in this property to assist with the purchase of a new property. In this scenario you can borrow 100% plus costs for the new purchase but the security for this debt is the 2 properties


Why invest in property?

There will always be debate about the most lucrative investment. There is no right answer. A few of the reasons that I invest in property are: it is tangible and you can’t wake up one morning to find that it’s director has run off with the profits and you are left with nothing. If you have an investment property whether the value goes up or down your rent will still keep coming in. Historical evidence shows that over time your property increases in value and so does your rent. You can insure against loss or damage. Security in an owner occupied home.


How much can I borrow?

Many factors will determine how much you can borrow. Each lender has criteria that determines how income, existing debt and interest rate is apportioned. Ring me.


Should I talk to a broker before i look for a property?


Definitely Yes. When you sign a purchase contract you start the clock ticking toward settlement of that purchase.

  1. I can give you an idea of how much you can borrow and afford so you know what price bracket to look in.
  2. I can establish whether or not you are going to fit the criteria of one or more lenders.
  3. if you don’t quite meet the criteria we can discuss ways to enable you to borrow at the earliest possible time.
  4. Lending is a mine field of products and rates and fees and criteria and policy. I can help you to comfortably manouvre your way through the mine field so that you can make an informed decision moving forward. Ring me.

Should I get a Pre-Approval before i go shopping for a property?

A Pre-approval is a peace of mind that you have been preliminarily assessed and the lender is willing to consider lending to you. It is not a guarantee of lending, nor is it a financial approval. The bank will need to assess the property that you are wanting to buy and will delve further into your application. They will then move to finance or unconditional approval.