Mortgage Power in North Lakes, Queensland, Australia | Property

Mortgage Power

Locality: North Lakes, Queensland, Australia

Phone: +61 7 3263 4680

Add/Update information

Reviews

Tags

• Property
• Loan service
• Mortgage brokers

24.01.2022 What Is An Equity Line Of Credit? These loans are a great way to access the equity in your home to use for things like home renovations, investments or other personal purchases. Repayments on a line of credit loan are determined by the interest rate applicable at that time. If you have sufficient equity in your home, you will need to make a separate application for a line of credit loan. You have the added advantage of being able to make unlimited deposits / repayments as you... repayments are not set. You must check the conditions of these loans as they are sometimes more expensive than standard products. A line of credit is also a popular product with property investors as it gives them instant access for a cash deposit, and the ability to keep their properties separate from each other i.e. not cross secured. Think of it like a gigantic credit card with a limit. So planning and caution is strongly advised. For more information please click the Message tab at the top to request a specialist finance broker to call you. We start with a review on your current situation, answer any of your questions and explore any opportunities available to save you money and/or invest.

24.01.2022 Tip: Don't just repay the minimum on your credit card every month! Doing so may take 20+ years to pay it off. Instead, create your own plan e.g. Say you decide to pay your credit card off in one year. Take the balance and divide it by twelve. Take that figure and set automatic monthly transfers from your savings account to get rid of that credit card debt quickly.

23.01.2022 Fill in the blank: If I had a $1,000 to give away, I would donate my money to _______

22.01.2022 How To Make An Offer In Writing To Buy A Property Here is an email template you can use to make an offer on a property you are interested in buying. ======EMAIL OFFER TEMPLATE======... To whom it may concern, I would like to make an offer on _______St ______ for $.. My preferred settlement time would be Weeks. This offer is subject to finance approval, my solicitor reviewing the contract and any Strata reports and or building and pest inspections I may carry out. ======= EMAIL OFFER TEMPLATE====== Best of luck... and if you need any ideas on finance, 2nd opinion or a pre-approval to go shopping... message me today for a complimentary chat.

22.01.2022 Which is better? Plan A - Buy a home Or Plan B - Buy an investment property and rent

22.01.2022 HaHa love it ... Like & Share - tomorrow LOL

21.01.2022 Working with a mortgage broker A mortgage or finance broker acts as your go-between, communicating with banks and lenders on your behalf, in order to secure the best deal for your circumstances. With approximately 40% of home loan applications being turned down, you can benefit from a broker to ensure that your application is sent to the right lender. However, while the broker can save you a great deal of running around, you should still double check everything to make sure y...ou are getting the best deal available. Is the broker licensed? Before you start doing business with a mortgage broker, check that they are fully licensed. In Australia, it is illegal for a credit provider or broker to operate without a license. You can check through ASIC ConnectsProfessional Registers or call ASICs Infoline on 1300 300 630. Before you start doing business with your licensed broker, ask what loans they offer and how they are paid. The brokers fee is generally covered by commission paid by the credit providers, although some brokers may charge you a fee instead of commission or on top of their commission. If you are expected to pay a fee, you need to know this before you start doing business. Shop around before choosing a broker, so you are confident you have the best and most cost-effective person for the job. The brokers role Your mortgage broker is responsible for negotiating with credit providers such as banks, to find the best possible loan for your circumstances. They can offer you a range of loan options and help you manage the process of buying your property. Make a list of all your loan requirements, so the broker knows exactly what you need and want. If the broker is making recommendations that do not fit your requirements, do not settle for not good enough ask the broker to keep looking. While the broker will save you a great deal of time and money by searching for loan options, you can still do your own window shopping. As your broker is paid by commission, it is possible they will favour a certain lender over one that has the deal you desire. Alternately, they might not have connections with a lender who has the home loan deal you want. It doesnt hurt to look around! Written loan agreement Once the broker has secured a loan that satisfies your requirements, you must get a written agreement, specifying the type of loan, the amount of the loan, the term and the current interest rate. It should also cover any fees you are required to pay, such as commissions, brokers fees or fees to the credit provider. You may also incur fees if you wish to terminate the agreement before the end of the term. How to make a complaint If you have a dispute with your broker or any concerns about their professionalism, you can make a complaint by contacting ASICs Infoline on 1300 300 630.

21.01.2022 Tip: Paying an extra $20 per week off your home loan cuts 3 years and 2 weeks off your mortgage. Its time to log onto your online banking and increase your weekly mortgage repayment today... youll be glad you did! (*example based on a $350,000 loan at 6% average rate)

21.01.2022 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 can’t 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 don’t want the right house to slip through your fingers because your loan wasn’t 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.

21.01.2022 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 don’t 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 Don’t 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 don’t 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.

20.01.2022 How to maintain a good credit score When you are applying for a loan, the first thing lenders will do is check your credit score and this will have a strong impact on their ultimate decision. So what is your credit score and how do you maintain a good score that will impress lenders? The five elements of your credit score...Continue reading

20.01.2022 What caption would be best for this picture?

19.01.2022 Quick tips for working out a propertys market value When you are searching for the perfect property, it can be challenging to work out exactly how much you should be paying. Rather than relying completely on the word of others, you can develop your own strategy for valuing a property, so you have a better independent idea of how much it is really worth. 1. Make a comparison search... Property sales are in the public domain, so you can research your chosen area and make a list of five comparable properties that have sold within the last six months. To ensure the properties are comparable, make sure they are within a kilometre of your target property, and that they have similar features, such as the same number of bedrooms, bathrooms and car spaces, and a similar land size. Also make a note if any property has additional features such as a pool, or whether it is more conveniently located in relation to amenities such as schools and transport. Do not include properties that have not yet sold, as the advertised price is not a true indication of how it will sell. 2. Rank your list Once you have a short list of comparable properties including the one you are planning to sell or buy, rank each property in order from Most Desirable to Least Desirable. Try to be objective in this exercise, looking at the land size and location, rather than whether you prefer one garden to another. Proximity to schools is a plus if you are valuing a three or four bedroom home, but less of a concern for a one or two bedroom home. Buyers tend to be drawn to properties with newly renovated kitchens and bathrooms, so keep this in mind when ranking your properties. Your ranking from most to least desirable might not tally with the ranking from most to least expensive this will give you an idea of what features are important to people buying into the area. 3. Adjust for market movements Now you have placed your target property within a list of five comparable properties so you can see where it stands in the price range between the most expensive and least expensive properties. However, the market may have shifted within the last six months from hot to cold or back again, since the first property was sold, so you will need to adjust for current market conditions. Once you have adjusted, you should have a clear idea of how much your target property is currently worth, based on its place in your ranking list. 4. Check your figures You can back up your research by checking the median house price for the suburb in question. The Domain real estate website will also show the discounting percentage for a specific area, which is the average discount below the agreed listing price. For example if a house listed at $1 million sold for $900,000, then the discounting percentage is 10%. Contact us today if you need assistance assessing the value of a particular property.

17.01.2022 Ever feel this way?

17.01.2022 Haha love it... have a fab day Like & Share the laughter

17.01.2022 "Never give up on something that you cant go a day without thinking about."

16.01.2022 Did you know that you can obtain a home loan even though you are in a probation period with your work?

16.01.2022 What Is A Mortgage Offset Account? An offset account is a transaction account that can be linked to your home or investment loan. The credit balance of your transaction account is offset daily against your outstanding loan balance, reducing the interest payable on that loan. Offset accounts enable you to make the most of your income and other funds to reduce the interest payable on your home loan, thereby reducing your loan term.... How an offset account can work for you: A customer with a $150,000 home loan over 30 years would pay approximately $167,190 in interest. If the customer had an offset account linked to the home loan for the entire loan term with a constant balance of $10,000 in it, they would pay the loan off in 26 years and 4 months and pay just approximately $127,553 in interest. This represents a saving of three years and eight months and approximately $38,636.95 in interest. Please note: These figures are based on a Standard Variable Rate of 7.36% p.a. We not only assist our clients with finding the right loan for their situation, but our post settlement service is second to none. Post settlement we help our clients and show them how to correctly set up their banks accounts and how to link them the right way with their loan accounts. Click the message button above and ask us which lender is offering the right loan for your situation! (We have access to all the major banks and many other leading lenders)

15.01.2022 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.

15.01.2022 Top Property Investment Mistakes 1. Emotional investment When you are choosing an investment property, there is no such thing as love at first sight. If you make an emotional investment before you have done your research into the location and the rental potential, you are at risk of making an extremely expensive mistake. Investors who let emotion rule their decision-making are far more likely to over-capitalise from the beginning, making it even more challenging to ensur...Continue reading

14.01.2022 Yep... Good advice LOL

14.01.2022 How To Combat ATM Fee Charges CONSUMERS who use ATMs not owned by their own banks paid $660 million in mostly unnecessary fees. A large chunk of this money could be kept in peoples pockets with some good planning and budgeting.... The fees, known as foreign ATM fees, are those charged by the ATM operator when consumers use an ATM that does not belong to their own bank, or is not in a network arrangement with their bank. The fees usually average $2 or more. The Australian Bankers Association says 40 per cent of all ATM transactions in 2011 were done at a foreign ATM. That figure is likely to be the same today. Its no different from going to a shop and buying a coffee youre purchasing a service from someone, says the ABAs chief executive, Steven Munchenberg. You are paying for the convenience. He says the best way to avoid these fees is planning and to be aware of where your own banks ATMs are located. You can also get cash out with Eftpos transactions, particularly at the supermarket. Munchenberg says for people who may not always have easy access to their own banks ATMs such as those in outer suburban or regional areas, the answer is to avoid making lots of small transactions. Legislative changes introduced in 2009 meant ATM customers had to be notified of the foreign ATM fee on the machines screen before the transaction was completed, and since then transactions at foreign ATMs have fallen. Many financial institutions now offer free ATM locator applications for smartphones. Source: http://news.com.au/

14.01.2022 On a more serious note... (Like & Share if you had a laugh)

14.01.2022 Why do banks and agents value your home differently? Have you ever wondered why your lender will give you one value for a house while the real estate agent has said something completely different? How do you know the real value of a property when everyone is giving different quotes? ... The difference in the two valuations is due to the lender and the agent assessing different aspects of the propertys value the lender is looking at how much to comfortably lend you in relation to the cost of the property, while the agent is looking for a sale price. Bank valuations vs market valuation The propertys market value is the estimated amount for which the property should fetch on the date of valuation, assuming a buyer and seller were to enter willingly into a sales transaction. The bank valuation is the amount that the lender is prepared to lend against the property. How is the bank valuation made? The bank or lender appoints a valuer to independently verify the value of the property. As the property is the asset providing security for the loan, the bank valuation generally tends to be more subjective and conservative, to protect the lender financially in case you cannot pay your mortgage and the property must be sold to cover your debt. While the bank valuation is based on extensive research into comparable properties, it will be lowered when the buyer is borrowing more this is a way for the bank to balance its risk. The banks valuer can potentially be held liable if the bank suffers financial loss, so they prefer to make a safer more conservative estimate. The valuer can also advise the bank to refuse the finance application if they believe the buyer has paid too much for the property. Not happy with the bank valuation? If you are dissatisfied with the bank valuation of your chosen property, you have two options request a reassessment of the valuation; or cancel your finance application and start again with another lender. The bank will only do a reassessment if you can provide evidence that comparable properties reflect a higher value than their valuation. You should also check that the market valuation reflects the true market price of a comparable property, as you may find that the seller has overpriced the property. You can hire an independent valuation company to make a market valuation of the property. How is the market appraisal made? The market opinion is assessed by a real estate agent, and establishes the asking price for the home. The agent has a different agenda than the banks representative they want to value the property to achieve the highest possible price in the sale. However, they do need to work realistically within the parameters of recent sales and real estate activity in the area. The vendor can receive valuations from several agents when deciding which agent to appoint to sell the property. Whether you are buying or selling, contact us today if you want independent advice about your property.

14.01.2022 Whats your best tip for staying out of debt?

14.01.2022 Tip: Watch your credit card limit! Even if your balance is zero, the higher your limit the lower your borrowing capacity.

13.01.2022 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...

12.01.2022 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!

11.01.2022 How Do I Pay Off My Mortgage Sooner? Pay more, more often. Want to pay off your mortgage early? Then make bigger mortgage repayments, more frequently. Youll own your own home sooner and save a bundle on interest. E.g. paying an extra $10 per week on a $350,000 home loan (@7% average) saves nearly two years off your mortgage and $34,382.65 in interested expenses ... Act now you pay most interest up front Most mortgages are structured so that you pay off most of the interest in the early years. If you are serious about wanting to reduce the interest you pay on your Home Loan, youll act now. Get rid of car loans and credit card debt Youre generally paying a higher interest rate on small loans (e.g. a car) and your credit cards so it makes sense to eliminate those debts first. So, put a rein on your credit card usage and then tackle your mortgage. Make sure youre paying off the right mortgage When you entered the mortgage market, you might not have been as well informed as you are now. Or the market might not have been as competitive. Stay in close contact with with us to stay informed you have the right loan. I can can let you know if there is a new home loan product that will save you money over the term of the mortgage. Flexible mortgages Most debt-retirement strategies depend on you being able to pay off more of your mortgage sooner. Read the fine print or talk to us to see if you have the flexibility you need to reduce your interest charges. Pay more and pay often Assuming you have a mortgage that lets you pay extra, you should pay more and pay often. The interest charged on a $ 300,000 home loan at a rate of 7.15% over 30 years with monthly repayments is over $420,000. By paying off an additional $50 a month, youll reduce the interest bill by $39,000 and your loan term by 2 years and 4 months. You could look at making repayments weekly or fortnightly rather than monthly. Over 30 years the savings add up. To learn more, talk to us today today. Information source: MFAA

11.01.2022 Sharing a little bit of motivation for the day

10.01.2022 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.

09.01.2022 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.

09.01.2022 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.

08.01.2022 "Life isnt about waiting for the storm to pass... Its about learning to dance in the rain."

06.01.2022 Did you know that just because one lender rejects you doesnt mean another wont welcome you with open arms! Use a mortgage broker to help you (for free) find not only the right home loan deal but also the lenders that will actually help you. Using a professional mortgage broker can save you a lot of time and stress.... Have a great day :) Like & Share

05.01.2022 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 Like to know how much you can borrow? Message me today to get your free borrowing capacity report!

02.01.2022 Whats A Better Strategy To Access Equity: Take Out A Line Of Credit Or Just Top Up A Loan? [Long Blog Educational Status Update]: Lines of credit can be very useful; however, you need to be careful regarding an evergreen set-up in which no repayments are needed and the interest is added on to the loan....Continue reading

01.01.2022 Is this your bank? Then its time to take advantage of our Free Loan Comparison Service. Some clients discovered saving $300+ per month by switching to a better deal. Private message me today to see how much you could save by switching.

01.01.2022 Prevent A Nasty Property Surprise [Educational Blog Status Update]: HOMEBUYERS and real estate investors are being warned to watch out for the hidden traps that may be lurking in their potential purchases.... Leaky showers, cracked ceilings and self-opening doors and among the signs pointing to bigger and more costly nasty surprises, the Association of Building Consultants says. Spokesman Chris Short says understanding a buildings condition and the likelihood of future repairs is vital when assessing a property purchase and managing a mortgage. Many homes are tidied up for sale, with the pre-sale spruce ranging from a basic clean through to bogging cracks, repainting, retiling and re-grouting, and even new floor coverings, Short says. The makeover might look good, but it also masks what might be more sinister problems such as termite damage, salt damp, structural issues, unlicensed and dangerous electrical work, and more. For example, a leaky shower might seem harmless on the surface but if the leak is allowing water to flow into the soil next to your home, its likely to attract termites. Short says building inspections can be particularly valuable for investors who will not be living in the property they buy. You need to know it well so that youre clear about urgent maintenance requirements to meet your obligations as a landlord such as ensuring smoke alarms are hardwired and the cost of long-term maintenance, he says. Property academic and author Peter Koulizos says beginners should always consider a building inspection. He adds to make sure the report is a written one, rather than a verbal agreement. Some of my students have been able to negotiate the contract down by the repair amount or they have just pulled out, he says. Koulizos says when entering any property, potential buyers should take in a deep breath. If there is a musty smell, its a sign of salt damp, he says. Another thing to check is the perimeter of the house and make sure there are paths surrounding it. You can minimise cracking by keeping the moisture content of the soil fairly constant, Koulizos says. Paths around homes are not just there for decoration. HIDING A BIGGER PROBLEM? * Cracks in ceilings and walls are hallmarks of footings sinking or rising, which causes the walls to flex. * Other signs are doors out of square in their frames, self-closing and self-opening doors. * Leaking hot water services, rainwater tanks and airconditioning pipes can create moisture that attracts termites. * New floor tiles installed over old tiles can trap moisture between the tile layers. * Cracked tiles and mould at the shower base and plaster bubbling on the wall in the room next to the bathroom are also signs of moisture. * Any repair work to the buildings paths can provide an entry point for termites. Source: Association of Building Consultants