What's News
From time to time we will provide an update or some news for you, with the latest industry quirks and smirks regarding the housing and mortgage industry ......watch this space.
01
Where do I start.... to buy my first home?
Many people are bewildered by the concept of buying their first home due to the current environment of lending and complexity of grants available.
The websites for the grants can be daunting, hard to understand and just plain confusing.
A broker will help you through the process of narrowing down the grants available to you and how you can apply them to your dream scenario.
​
You'll need a good history of savings! Many lenders these days will take a reliable rental payment history as confident proof of being able to save, others look at other factors.
​
How much deposit you will need, will depend on the lender, the amount you wish to borrow and sometimes the type or geographical location of your chosen property.
​
You will need other third parties all communicating with each other, and sometimes you may need to take time to work towards a more credit appealing financial situation that will help with a smooth approval of your loan, by the broker knowing what a lender is going to look at.
​
These and many more discussions are part of our offering to you, to get you to owning your own home as soon and as smoothly as possible.
02
03
To fix, or not, to fix.....?
With a rapidly rising RBA cash rate, and thence, home loan rates... the question on everyone's lips is...
"Is it a good time to fix my home loan"?
​
The answer is as personal as your loan product.
Your circumstances and property goals play a major part in most of your financial decisions and so the key is knowing your own goals.
​
If you are in a stable situation expecting no changes and the fixed rate is reasonable at the time, ie. you believe that variable rates will potentially go beyond it,....then you may choose to fix.
​
If you think you might alter your plans, or wish to leave your options open, then you may need the flexibility of a variable rate product.
​
When you enter a fixed rate agreement with a lender, they are accepting that you agree to pay them those monies for that period of time.....it's a contract that you will need to pay to get out of.....in the form of a break cost. This cost can well and truly be enough to put you off breaking that contract.
​
A broker can help you mentally meander through your goals, situation, and preferences, then link you with an answer to suit, considering your current and future lending alternatives.
Your current broker, or even initial meeting or conversation with a new Broker is usually fee free, so don't second guess reaching out for some advice, it could save you thousands or even better........time.
​
​
Why use a broker? The top 5 reasons.
​
​
​
​
-
Communication: Effective communication skills are crucial for mortgage brokers to clearly explain complex financial concepts and mortgage products to clients, ensuring they understand their options and make informed decisions.
-
Relationship Building: Building and maintaining strong relationships with clients, lenders, real estate agents, and other industry professionals is essential for mortgage brokers to establish a network and generate referrals.
-
Financial Analysis: Strong financial analysis skills enable mortgage brokers to assess clients' financial situations, evaluate their eligibility for different mortgage products, and recommend suitable options based on their needs and circumstances.
-
Negotiation: Negotiation skills are important for mortgage brokers to advocate on behalf of their clients, negotiate favorable terms with lenders, and secure the best possible mortgage rates and terms.
-
Attention to Detail: Mortgage brokers must pay close attention to detail when preparing loan applications, verifying financial documents, and ensuring all paperwork is accurate and complete to facilitate a smooth mortgage approval process.