Mortgage Choice Melton in Melton, Victoria | Property

Mortgage Choice Melton

Locality: Melton, Victoria

Phone: +61 415 920 585

Add/Update information

Reviews

Tags

• Property
• Mortgage brokers

25.01.2022 I've Been with the same bank for years...why change now? It's a good reason to check out how much you could save by switching to a new home loan. Talk to us today on 0415920585 or complete the form below and we'll get back to you.... https://docs.google.com//1Z_30hT_CqMgNwM2xm_0HfCcDICy/edit

25.01.2022 Looking to get approved for a home loan? But ... Started a new job? Short term casual employment? Commission Income? Bonus income?... No problem... we know which lenders will approve you! Message me now to give you a professional take on your situation.

25.01.2022 "You dont always need a plan. Sometimes you just need to breathe, trust, let go and see what happens"

25.01.2022 "When should I refinance?" Answer: If youre planning to purchase another property, now might be the best time to refinance. Get in touch with your local broker today. Click Here to Book a Free Phone Call to discuss your home loan options. ... https://calendly.com/robert-causovski/15min #Restart2020 #MortgageMinute

24.01.2022 What is a repayment holiday? Exactly that... a period of time where you dont make any repayments on your home loan. Usually its a time when your financial situation changes... for example maternity leave, and therefore there is a period of reduced income.... Of course there can be other reasons too.. such as redundancies, illness etc... In any of those cases... rather than falling behind on your repayments, its critical that you speak with your bank or broker to get some early advice to make sure you work with your lender to find an appropriate solution. Feel free to click the message button if you need any information around taking a break from your home loan repayments.

24.01.2022 Top tips for young property investors It is possible for people to launch into the property investment market in their early twenties in fact, this is a great time to start, when you are first launching into your career and dont yet have any other financial responsibilities such as a family to support. However, buying an investment property can never be an impulse decision it takes self-discipline and applied knowledge to start building a profitable investment propert...y portfolio. Set a budget and save The first step of course is to start saving for your first deposit, which is usually at least 20% of the purchase price (can be lower, check with your broker). You will need to be focused and realistic, and quite single minded in order to save a sufficient amount. Your best option is to set a budget and create a clear financial plan that will help you remain focused and prepared once you do buy your first property. Think long term While some of your peers will be looking into short term gratification visiting pubs and night clubs, booking overseas holidays or buying a new car - you need to establish a mind-set that focuses on the long term rewards of building your investment portfolio. Learn from the experts While you are saving your deposit, take this time to educate yourself about the property investment market and the best type of property for your first investment. Read articles about property investment and monitor the real estate section of your local newspaper, so you can build a vision of an affordable and profitable investment property. Consult local agents and mortgage brokers as soon as possible so they can offer their insight into the market. Seek advice from a professional accountant, who can oversee your savings plan and advise you on your first home loan. Consider a family guarantee If you have the option, you could ask a family member to act as guarantor of your bank loan. The guarantor allows the equity in their property to act as additional security for your home loan. This strategy could potentially reduce the amount of deposit you need to save. You can split the loan into two portions, so your guarantor is only guaranteeing one portion of the loan. That way, you can pay off that portion first, so you can release your guarantor from the agreement as soon as possible. Invest, dont gamble Gambling is a game of chance where you can hope to win big but you are perhaps more likely to lose it all. Investment is based on knowledge and experience, so you make decisions that will be profitable in the long term. Learn everything you can about the property and the market, so you can make objective, beneficial decisions.

24.01.2022 Ive Been with the same bank for years...why change now? Loyalty is a great quality, but when it comes to your home loan, staying with the same lender can cost you dearly. Research by the reserve Bank shows that lenders often save their best deals doe new customers. If fact, some lenders are offering interest rates to new customers that are 1.5% cheaper than the rates paid by existing borrowers. Its a good reason to check out how much you could save by switching to a new ho...me loan. Talk to us today on 0415920585 or complete the form below at and well get back to you. https://docs.google.com//1Z_30hT_CqMgNwM2xm_0HfCcDICy/edit

23.01.2022 Pack away the wollens - its the last day of winter! Are you ready for the spring property market? Our handy checklist includes everything you need to know. www.mortgagechoice.com.au//get-the-most-out-of-property-i/

23.01.2022 How can a Mortgage Choice broker help you? Explain the costs and steps involved in buying a home Help you secure pre-approval Find out if you're eligible for government incentives and... Support you all the way When you're ready to take the next steps towards home ownership, simply get in touch with us. Book a free phone call consultation below https://calendly.com/robert-causovski/15min #mortgagebroker #mortgagechoice #homeloan

21.01.2022 Spring has arrived! Time to tuck away the woollens and spend time with family outdoors. Heres how to give your outdoor area a spring spruce up. https://www.mortgagechoice.com.au//spring-has-arrived-get-

21.01.2022 "Should I bother refinancing?" Answer: If you havent reviewed your home loan in the past two years, then you could be saving more. Get in touch with your local broker today. Click Here to Book a Free Phone Call to discuss your home loan options. https://calendly.com/robert-causovski/15min... #Restart2020 #MortgageMinute

20.01.2022 Can you imagine what your life would look like once youve paid off your mortgage and have no more repayments to worry about! And think of what you would do with the extra cash that you will have every month?

20.01.2022 Why you should choose a mortgage broker over a bank For most people looking for a home loan, the choice is simple just head to the nearest bank and see what is available. On the surface, this seems like convenient and straightforward option, so why look for a mortgage broker when the bank is right there on the main street? Here are three things a mortgage broker will offer you that your bank wont: ... 1. Choice When you visit your bank manager to talk about a bank loan, the manager is going to offer you their latest products. The manager isnt going to tell you that a rival bank has an offer more closely streamlined to your circumstances. And a year down the track, the manager wont reward your loyalty by suggesting a new option tailored to your current circumstances. However, your mortgage broker has access to products from countless banks and lenders, so they will find the one that is most suited to your requirements. When your circumstances change, as you pay off your loan, your broker can suggest a different package. 2. Specialized assistance Bank employees are in the business of promoting the banks services which includes securing your loan. Every lender has their own method for approving or declining a bank loan, and you can waste a great deal of time trying to provide the correct application. Your broker already has an inside knowledge of how each bank assesses an application, so you have a better chance of being approved first time around. Your broker can also negotiate with the bank for policy exceptions to tailor the package to your individual specifications. You can also choose a broker who specializes in your particular loan requirements. For example, if you are purchasing a property investment, you will need a broker who understands all the financial issues of that type of loan. 3. Administrative support The mortgage broker will manage all the paperwork on your behalf and follow up with the lender, keeping you updated on the progress of the application. This saves you time and a great deal of stress, while providing you with one point of contact throughout the business of securing the loan. Ultimately, your mortgage broker is saving you both time and money by simplifying the loan application process and ensuring that you find the loan package most suited to the size of your deposit and your ability to make repayments. Contact us today if you want personalized advice about how to complete the loan application process and find the right loan package for your needs.

20.01.2022 We know 2020 has been a challenging year so far, thats why its always important to check in with people around us and ask them R U OK? But what do you say after R U OK? Find out more: www.ruok.org.au/join-r-u-ok-day

20.01.2022 Did you know if a home loan interest rate varies by 0.5% (on a $350K loan), thats a saving of $41,875.00 over the life of the loan? My free loan comparison service tells you how much you could save! Message me for a free check up today! PM me...

19.01.2022 Why you need a property inspection Whether you are purchasing a new home or an investment property, you are about to embark on one of the most important financial investments of your life. So it is essential to ensure that you are getting a fair deal. Yet, while buyers can be scrupulous about checking contracts and researching market prices, a surprising number of people tend to skip the property inspection. This means that you are taking ownership of any issues that could d...Continue reading

17.01.2022 Myths about mortgage brokers Wary about engaging a mortgage broker to see you through the loan application process? There are numerous myths about mortgage brokers that have put people off using their services. Here we debunk some of the more common myths so you can see how a mortgage broker can help you secure the best possible loan for your next property purchase. 1. Mortgage brokers are aligned with one particular lender...Continue reading

17.01.2022 How many do you follow?

16.01.2022 Pros and cons of a reverse mortgage A reverse mortgage allows a home owner aged over 62 to borrow against their homes equity while still maintaining ownership of the home. You can receive a lump sum or regular payments, and the loan is due to be repaid when you die, sell the residence or move permanently from the residence. The amount of the loan will depend on the value of your home, current interest rates and your age the older you are, the more you will be entitled to b...orrow. So what are the pros and cons of a reverse mortgage? And what factors do you need to take into account if you are considering this option? PRO A great source of retirement income Your home is your largest personal asset, and you can channel this asset through regular payments. If you are on a small fixed income through your pension, it can make sense to release some additional income through this asset. CON Value of your property is reduced As these payments are being made from the equity in your home, so you gradually lose equity in the property. This means that your heirs will inherit a property of reduced value when you die. Alternately, if you need to sell the home to move elsewhere (such as into an aged care facility) you will need to repay the loan while still having enough equity to fund your next home. PRO No monthly mortgage repayments While you are living in the home you are only required to pay the costs of taxes and property maintenance. CON High fees Fees are usually higher than a traditional mortgage, further reducing the equity in your home. PRO You can continue living in the property and leave it to your heirs One of the myths about the reverse mortgage is that you can be evicted from the property if the loan exceeds the property value. This is not correct. You can live in the home for as long as you wish and still leave the home to your heirs but they become responsible for repaying the loan balance, either by refinancing through a traditional mortgage or selling the home. CON The loan is due when a maturity event occurs Maturity events include the death of the last surviving borrower, or when the home is no longer your principal residence or you vacate the property for more than 12 months. It will also become due if you fail to maintain the property or fail to pay the relevant taxes or insurance. This means that the loan could become due during a crisis time for your family when you actually need financial resources rather than having to confront a huge loan repayment. While a reverse mortgage can be a fantastic option for some retirees, it is not for everybody and you should never embark on this type of financial commitment without independent advice. Contact us today if you wish to discuss whether a reverse mortgage is the right option for you.

16.01.2022 It's time to start making lasting memories!

15.01.2022 Building your first home doesnt come without its challenges. Jem and Ai achieved their dream home by working with their Mortgage Choice broker through the purchase and construction process. Your local expert is ready to help you achieve your dream home. mortgagechoice.com.au/restart2020

12.01.2022 Why do you need a mortgage broker? A mortgage broker is an independent person or business who specializes in finding the most suitable home loan for a customer, based on the customers individual needs and circumstances. Basically, like any broker the mortgage broker liaises between you as the property buyer and the banks or lenders who will lend you the money for your mortgage. So why go to a mortgage broker when you can contact the lenders directly? ... Open communication Unlike banks and other lenders, the mortgage broker isnt looking to sell you a specific product whether it suits you or not the broker wants to give you a full view of the market and find the right product for you. This opens up communication, as the broker needs to find out as much as possible about your requirements in order to select the most suitable loan package. And when you have questions or concerns, your broker will answer these directly. The brokers communication skills work both ways as they have an ongoing relationship with the lenders, they can negotiate to tailor the loan for your needs. Your broker will also know how long each lender generally takes to approve a loan application giving you a realistic timeframe, so you know when you can start house hunting in earnest. Wide range of options on offer Some lenders will work exclusively with brokers, so they can offer you options that would not be available to you as an individual. Different lenders will differentiate their products with honeymoon rates and special deals, making it more difficult for you to work out who is offering what you actually need and want. The broker will also help you make realistic comparisons between different lenders, so you have a better understanding of what features you are looking for in your own loan agreement. Convenience Your loan agreement is an important financial commitment, and there could be a huge cost difference over the long term between two loans that seem right on the surface. It can take you a great deal of time to navigate the mortgage marketplace, making comparisons and calculations and filling out loan applications and if you take a wrong turn, it can be a costly error. A mortgage broker can navigate the market on your behalf, saving you valuable time and money. If you would like to know more about how a mortgage broker can secure the best home loan package for your needs, contact us today for a free consultation.

12.01.2022 Look whos open for business! Our brokers are still here, to help you achieve your property goals or relieve the financial pressure no matter where you are.They can meet via Zoom, Skype, email or phone, so you can start saving sooner. www.mortgagechoice.com.au/home-/refinancing/mc-loan-checks/

11.01.2022 Simple strategies to pay off your home loan sooner Of course you want to pay off your home loan as efficiently as possible to build equity in your home and avoid excess interest payments. Yet you dont want to sacrifice your quality of life for the sake of making crippling mortgage payments each month. There are some simple strategies to help you pay off your home loan faster, without becoming too stressed about a tight budget. ... Place any lump sum payments into your mortgage account If you receive an annual bonus or a healthy tax return, place the extra money into your mortgage account. These lump sum payments can drastically reduce your loan term. Pay the same amount when interest rates drop Dont let your bank reduce your regular mortgage payment when the interest rate drops continue paying the same amount, and this will reduce the interest, eventually cutting down your loan term. Offset your loans with a savings account pay wages into offset As your savings account earns interest, this amount is subtracted from the interest payable in your loan. When you reduce the amount of interest you need to pay, you can cut down on the length of your term. Shop around for a better rate Always stay alert for a better rate or a loan more suited to your requirements. You can delegate this task to a mortgage broker who will let you know if another lender can offer you a better rate or who can negotiate on your behalf with your current lender to improve the terms of your loan. Increase your repayment frequency Simply by making payments fortnightly instead of monthly, you will be making one extra payment a year. Again, this cuts down on the interest you need to pay, shortening the length of your loan term. Avoid additional debt While you are working hard to reduce the amount of interest you are paying on your home loan, you dont need to accrue additional interest payments through credit cards and car loans. Minimize your debts so you can concentrate on paying off your home loan, as this is the asset which will appreciate in value. Examine your budget Have a close look at your weekly or fortnightly budget and see if you can cut down costs anywhere in order to make a small increase on your loan repayments. You could save $50 to $100 a week through simple strategies such as grocery shopping once instead of twice a week or cutting down on takeaway meals or having a no spend day once a week. That small amount of extra cash can be diverted into your mortgage payment, where it will add up to huge savings in the long term. Contact us today if you need expert assistance in finding simple yet effective ways to reduce the length of your home loan.

11.01.2022 Have you heard the news? Victorian buyers set to score 50% off on stamp duty! #stampduty #mortgagebroker #mortgagechoice #property #firsttimehomebuyer #firsthome

10.01.2022 How to ensure your renovation will increase your house value There are two main benefits to renovating your property firstly, you can make it more comfortable and compatible for your lifestyle; and secondly, you can increase the value of your home. The challenge is to find the right balance between these two benefits if you invest too much into renovations, you risk reducing the amount of profit you would make when you sell. So how do you strike the balance and turn you...r renovation into profit? The 10% rule One handy rule of thumb is to ensure your renovation doesnt cost more than 10% of the propertys value. If you are planning an extensive renovation, do your research to make sure you are not over-capitalizing. If you are building a substantial extension on a family home, for example, you should regain the value through creating a home that suits your familys needs for a considerable period of time. Keep it simple and contained The renovations that increase the value of a home are generally in the kitchen and bathroom. A future buyer wants to know that these rooms are up-to-date with relatively new fixtures and fittings. The garden is another selling point as potential buyers will be attracted to a healthy, well maintained garden. Take your renovations slowly, step by step, finishing one room before starting on another. This way, you can keep track of costs and also ensure that your house remains liveable rather than turning into a chaotic mess that will be finished one day! Check for council approval Before you dive into any renovations, make sure you have council approval. As part of the process, ask your neighbours to check over your plans before you start work. You dont want the neighbours complaining that your renovation reduces the value or comfort of their home. Sometimes it just means repositioning a window that overlooks the neighbours yard, in order to keep everyone happy. Consider your financing Depending on your financial position, you could use your equity to finance the renovations, a combination of equity and savings, or you could take out a construction loan. In order to access the equity on your home loan, you need to ensure that the loan includes features such as redraw, line of credit and an offset account (this of course varies based on individual circumstances and needs). A construction loan is written against the renovated valuation of the property, and the lender interacts directly with the builder, making regular milestone payments and monitoring a schedule. Basically, your lender has a vested interest in ensuring your renovation increases the value of your home. If you need assistance working out the best way to finance your renovation and ensure it increases the value of your home, contact us today.

10.01.2022 Wishing all the dads out there a very Happy Fathers Day!

09.01.2022 Pros and cons of debt consolidation with your mortgage If you are struggling to keep up with multiple credit repayments credit card, car loan and mortgage one option for simplifying the issue is to consolidate all the debts into your mortgage. However, there are also potential negative consequences for consolidating all your other debts with your home loan, so you should consider this strategy carefully and ask for independent advice before making a decision. So what are... the pros and cons of debt consolidation with your mortgage? Pros Shifting from multiple payments to one payment When you consolidate your debt, you only need to make one regular payment, so your finances are more organized and you dont have the stress of doling out minimum payments to multiple lenders. Once you have streamlined your repayment plan, you may even be able to increase the amount of that one repayment. Lower interest rate Multiple debts is equivalent to multiple interest rates, yet when you consolidate all these debts, you are only paying interest on one loan, which is generally at a lower rate than before. This is an automatic saving. With one interest rate and one regular payment, your monthly payment will probably be much lower than usual, giving you the option of increasing the amount of your regular repayment to get on top of the loan faster. Cons Reduces the equity in your home Unlike your car and the items you purchase with your credit card, your home is an investment which will appreciate in value. Your goal is to increase the equity in this asset for your own financial security. Yet when you combine your home loan with your other debts, you are reducing your equity without any increased value of assets to balance it out. Risking your secured loan Another difference between a mortgage and your other debts is that a mortgage is a secured debt if you cant pay it, the lender can take something from you in lieu of the debt. In contrast, if you cannot make your credit card payments, it will affect your credit rating and your ability to get another credit card but it wont have a significant impact on your overall security. Consolidation loans are also secured loans. When you consolidate all your debts into your home loan and then cannot manage to make the repayments, your home is at risk. More costly in the long term While your minimum monthly repayments may be reduced in the short term, your long term debt may be increased. For example, if your car loan was taken over a five year term and then consolidated into your 30 year home loan term, then the interest on the original car loan will actually be increased so you are ultimately paying more for your car. Debt consolidation can be a valuable tool for some borrowers, but can be difficult for others. Contact us today if you would like expert advice on whether debt consolidation is the right strategy for you.

09.01.2022 What is a split home loan? Its simply dividing your home loan into two or more loans. For example, lets say you have a $200,000 home loan. You could divide your loan into one portion being $150,000 and the other $50,000.... Why would you do that? It can protect you against rate fluctuations if you, as per in this example, say fix the $150,000 for three years and keep the other $50,000 portion variable with a 100% offset account. Simple strategies like this can give you security in the home loan market whilst at the same time keeping the flexibility of making extra repayments and redraw with the variable portion. There are a lot of different options with split loans and every situation is different depending on the clients needs. Click the Message button above if youd like a professional take on your situation to see if a split loan would be appropriate for you.

08.01.2022 The new $25,000 HomeBuilder grant could help you get that renovation project underway. Conditions apply, speak to your Mortgage Choice broker to know if youre eligible. https://www.mortgagechoice.com.au//all-you-need-to-know-t/

08.01.2022 What happens when your fixed rate expires? Do you know when your fixed rate term is coming to an end? Once it finishes, the bank is free to quietly switch you to a higher interest rate unless you act fast! Think of how costly it could be if you simply let the bank choose your interest rate. If your bank charges you just 0.5% more than the competitive interest rates, this adds up to a significant amount over the term of your loan. You can save yourself a great deal of money... and perhaps even cut years of your loan, if you are proactive about monitoring your interest rates and choosing the right option for you. Switching to a variable rate A variable rate can be a great option if you want to take advantage of low interest rates, or if you want the flexibility to redraw or make extra payments. When your fixed rate term expires, the bank will automatically switch your loan to the Bank Standard Variable Rate (BSVR). Do some research to find out whether this is a competitive rate; if not, you can talk to your bank and try negotiating a better deal. And if they do not offer you a competitive rate, you can switch lenders. Lenders generally prefer to negotiate rather than lose a customer, while they dont generally make their best offers to customers with a proven history of loyalty. So when it comes to your interest rate, stay alert and ask questions keep your lender busy, trying to keep you happy! Extend your fixed rate One option is to ask the bank to refix your home loan, extending it for another one, three, five to ten years. The fixed rate is a good option for you, if you are planning to pay off your loan steadily over a long period of time, and you want each mortgage payment to be a regular amount so you can budget your money precisely. Fixed rate protects you from rate rises and you could be paying less than the variable rate. However, there is also the risk that you could end up paying higher than the market rate if you are locked into an outdated fixed interest term. There may also be a break fee if you change or pay off your loan within the fixed period; this means the fixed rate is not a good option for anyone planning to sell their home. Call us today if you need assistance pinpointing the best and most competitive option for you.

06.01.2022 How will you make the most of the $25,000 Homebuilder grant? We have a few ideas, check them out here: https://bit.ly/35Ajbs5 #mortgagebroker #homebuilder #grants #fhog

06.01.2022 Understanding the buying and loan process Purchasing a new home or an investment property can be a daunting prospect, and you might find it difficult to identify the first logical step. Here we look at the process of securing a loan so you can buy the property that suits your needs and your budget. Ask yourself what you want to achieve...Continue reading

05.01.2022 Reckon youre stuck with renting? Maybe not! Record low interest rates can make it cheaper to buy. Speak to an expert to help you make the right choice Click Here to Book https://calendly.com/robert-causovski/15min

04.01.2022 Did you know a lot of home owners overpay on their mortgage? Could a better deal put an extra $250+ per month back into your pocket? We offer a free Loan Comparison Service to see if switching could save you hundreds per month. Private message me today to get a free loan comparison!

04.01.2022 Which is the right home loan for you? There are a bewildering variety of home loans available, and it can be confusing to figure out which type of home loan is the best for your circumstances. However, when you know the pros and cons of each type of loan, you can make a decision that will fit best with your financial situation. Fixed rate home loan...Continue reading

03.01.2022 Own your first home with just a 5% deposit! Get in quick with the First Home Loan Deposit Scheme. Speak to your Mortgage Choice broker to secure your place in the Scheme. https://www.mortgagechoice.com.au//the-governments-2020-/

02.01.2022 Still working from home? Its important to have a comfortable working space, so here are some tips to set up your ideal home office. Read now: www.mortgagechoice.com.au//still-working-from-home-4-tips/

02.01.2022 Five Reasons why you need a Mortgage Broker For most people, buying a home or an investment property are the biggest financial investments of their lives. A mortgage broker can help streamline the costly and confusing process, while saving you valuable time and money. Heres how: ... Simplifying the home loan process While this is an overwhelming first-time experience for you, your mortgage broker can efficiently guide you through the entire process, from the application to the property settlement. With their assistance, you can handle all the complexities of paperwork and legal details. They can also give you the right advice to ensure your application is approved promptly. As a result, you have the peace of mind of delegating the process to an expert who will keep you informed every step of the way. Fast comparisons With so many banks and lenders offering different deals, it can be difficult to figure out which is the right loan for your situation. While a bank will only promote their own products, your mortgage broker has the experience and the contacts to compare a wide range of lenders and products, to identify the right package for you, based on your individual situation. They can decipher the financial jargon for you and explain the pros and cons of various home loan features, so you can confidently make an informed choice. Direct service As your mortgage broker regularly works with various lenders, the application process can be several days faster than going to a bank directly. Best of all, you are dealing with one point of contact, rather than whichever member of the banks credit team takes your call. This gives you the benefit of securing the loan features that are best for you, based on your circumstances. Better value from your property investment When an expert oversees your choice of loan, you reap the long-term benefits of better interest rates and the right flexibility for your personal situation. The right loan can take years off your mortgage while cutting down your interest payments. In comparison to the significant savings, the cost of a mortgage brokers fee is negligible. In the US and UK, mortgage brokers charge around 1-2% of the total loan, while in Australia, mortgage brokers are paid by lenders so there is no cost to the client. Specialized assistance If your situation is a little more complex than a standard home purchase, a specialized mortgage broker can help you through the process. Whether you need assistance with property investing, commercial properties or a hobby farm, there is a mortgage broker who knows exactly how to help you. There are also mortgage brokers who specialize in assisting people with individual challenges that might deter lenders, such as bad credit, non-residential status or contract employment. For more information about securing the right loan for your circumstances, contact your mortgage broker today.

02.01.2022 hope. dream. wish. live. laugh. love. breathe...

02.01.2022 If you’re serious about a property for sale, it’s important that you look out for these main things! Damp areas or mould Structural issues (ceilings, window frames or walls) and Look into the council rates & strata fees before you proceed.... #mortgagebroker #mortgagechoice #homeloan #firsthomebuyer See more

01.01.2022 Whats not to love? Our home loan health check means: Well negotiate for you Well find you a better deal Well do all the legwork... www.mortgagechoice.com.au/robert.causovski

01.01.2022 Questions to ask your mortgage broker When you are going through the home loan and mortgage application process, your mortgage broker can help navigate you through all the paperwork and different loan options to find the right loan for you. While the process might seem overwhelming, you might not know which questions to ask. When you ask your mortgage broker the following questions, you will have a better grasp of why your broker selected this loan as the best fit for your ...circumstances. You also need to be confident that you feel this is the best loan for your circumstances, and if you have any concerns you can discuss these with your broker before signing on the dotted line. Do you have a license? A mortgage broker is required to have a current license in order to practice in the finance market, and this license should be displayed on their web page or in the office. Without a valid license, your mortgage broker is not qualified to give you advice on your mortgage. What can you offer me that the bank cant offer? Amazingly, not all brokers have an answer to this! A good broker will explain their services thoroughly and these services should include finding the right loan package for you, then setting up the loan on your behalf. Their services should save you the time and stress of comparing loan packages for yourself and then organizing the loan directly. Which lenders are on your list? A good broker will have access to a wide range of lenders, from the largest established banks to the smaller lenders. The broker should also be experienced in interacting with all these lenders, so they know how each one determines a loan application and how long they take to give loan approval. With this experience and background, the broker will be able to give you accurate updates about the progress of your loan application. How do you determine that this loan is the most suitable for my needs? Your mortgage broker is legally obligated to find a home loan that is suited to your circumstances. Ask your broker to explain the thought process so you understand how they felt the features, rates and fees were right for your circumstances. For example, if you want the freedom to make overpayments on your loan, you need to ensure that your mortgage broker has chosen a loan that allows this without a penalty admin fee. How long will it take to process the loan? As mentioned above, different lenders have different procedures for processing loans, and some will take longer than others. Your mortgage broker should know how long it will take to process your loan application so you can work with a realistic timeframe while house-hunting. You dont want the right house to slip through your fingers because your loan wasnt approved on time! Contact us today if you are looking for expert guidance or advice on how to find the right home loan for you, whether it is for your existing property or your next purchase.

01.01.2022 Rentvesting: investing in a suburb that fits your budget, while renting in an area that suits your lifestyle. But is it a smart way to invest? Find out more: https://www.mortgagechoice.com.au//should-you-rentvest-in/