Richard Chapman in Bardon | Mortgage brokers
Richard Chapman
Locality: Bardon
Phone: +61 487 004 484
Reviews
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24.01.2022 "You don't always need a plan. Sometimes you just need to breathe, trust, let go and see what happens"
24.01.2022 Once you’re settled and financially secure in your home, you might be ready to start thinking about purchasing a second property as an investment. Planning ahead Make sure your first property is secure before looking towards the purchase of a second property. If you are struggling to manage payments on your first property, expanding your property portfolio will not improve your financial position. You will need to demonstrate to a lender that you will be able to manage two ...Continue reading
21.01.2022 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 won’t: ... 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 isn’t 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 won’t 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 bank’s 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.
21.01.2022 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. Here’s 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 bank’s 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 broker’s 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.
21.01.2022 How to choose the right property for you Your home is perhaps the biggest investment of your life particularly as it is not just a financial investment, you are also investing in your future lifestyle. Yet many people have a tendency to fall in love with a particular property, and they forget to remain logical in their thinking. As a result, they find themselves owning a property that does not suit their current lifestyle or their future financial plans. So how do you cho...ose the right property for you? Find a property that fits your real-life needs, not your dream lifestyle You might have fantasies of living by the beach or in a small inner-city unit within walking distance of all the pubs and cafes, but how will this choice fit your budget and your long-term lifestyle? Your first home should fall within your budget and it should be compatible with your work and family life. There is no point purchasing a dream property that requires a two-hour commute to work or takes up all your spare money reducing your quality of life. Is it a good investment for you? Investigate the economic possibilities of the location and the property itself to see how it will appreciate over time. Also consider how the property will grow alongside your lifestyle choices perhaps you want to flip the investment property by doing a few renovations and selling for a profit, or perhaps you want to live for a few years in a small house before extending the property to make room for a family. Whatever your plans, your property is an investment tool that you can use to provide for your future. Is the property value accurate? If you fall in love with a particular property, you may trick yourself into wanting to spend more than necessary just to win it. However, it is important to check that you are paying what the property is actually worth. Look at the purchase history of the property and neighbouring properties to see how their value has appreciated, and how much they are all perceived to be worth now. Consider what needs to be done to the property in terms of renovations or repairs in order to make it right for your purposes. Will you need a home loan? Before you commit to a property, look carefully into the financial aspect of the deal. Find out how much you will need to borrow in order to secure the property, and whether you can still maintain your quality of life while paying off the loan. If you need assistance working out how to find the right property for your lifestyle and budget talk to us today
20.01.2022 How many do you follow?
20.01.2022 Sell or buy first? Which option is right for you? It’s the ultimate dilemma for any home owner planning to move on to a new property do I sell or buy first? You don’t want to sell unless you have somewhere else to live, but you don’t want to buy unless you have the money from the original home. Whichever way you go, there will be some stress involved, so it’s important to look at the pros and cons of each option to decide which is the most suitable and practical for your ...Continue reading
19.01.2022 Is this your bank? Then it's 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.
18.01.2022 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.
17.01.2022 Like to know how much you can borrow? Message me today to get your free borrowing capacity report!
16.01.2022 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
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 don’t 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, don’t 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.
14.01.2022 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
13.01.2022 Top Six Reasons why your home loan might be declined You’re ready to buy a home, but you can’t find a lender who will approve your home loan. While this might seem discouraging and frustrating, it is not necessarily the end of your dream to become a home owner. Once you know the reason that you are considered a bad risk, you can improve your eligibility. Usually, it just takes a little more time and to improve your eligibility. Here are the top six reasons lenders might decl...Continue reading
12.01.2022 Did you know if a home loan interest rate varies by 0.5% (on a $350K loan), that's 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...
10.01.2022 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.
10.01.2022 Sharing a little bit of motivation for the day
09.01.2022 Where's your dream holiday destination?
08.01.2022 hope. dream. wish. live. laugh. love. breathe...
08.01.2022 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.
06.01.2022 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.
05.01.2022 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!
03.01.2022 How to narrow down what you want in a home Before you can find the perfect home, you need to know exactly what you are looking for and as you may come across desirable homes that include only a few of the features on your list, you need to know which features are the most important to you. As a further complication, you will generally be working on this list with your spouse or partner, who may have different priorities to you! So how do you work out what you are looking ...Continue reading
02.01.2022 Top Property Investment Mistakes Property investment is a proven way to accumulate wealth and personal security, although there are many pitfalls if you are unprepared or impatient. The purpose of an investment property is to bring in some kind of return, either through some income from the rent or the increased value over time or ideally, capital gain and ongoing income. Yet many property investors stick with a property that is actually losing them money, and this situation...Continue reading
01.01.2022 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 customer’s 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 isn’t 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 broker’s 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.
01.01.2022 Ain't that the truth...
