Why Use A Broker?
Using a broker to help you navigate the investment process can simplify the process and take a lot of the stress out of equation.
We are completely independent, with access to over 30 different lenders, so you can always be sure that our advice is objective and thoroughly researched.
As all lenders have different policies, products and services that they offer, it can be really helpful to have someone who knows the ins and outs of the options to help you find the right lender for your personal situation.
It’s our job to keep up to date with the products and policies of the lender, so we can find the best product for our customers, so come and see us today and let us take some of that legwork off your hands.
What Information Do We Need To Supply A Bank When Applying For A Loan?
Get a handle on some of the information we will need to get from you to provide to the bank to get your loan underway.
It may seem like a lot of detail, but everything is in there for a reason, and the more information you can give us, the better for getting your investment journey underway.
Valuations of your property generally need to be done when you are applying to get finance. This is either completed upfront before the loan process starts, or ordered through the lender as the loan is progressing through; it depends on your individual circumstances.
There are a number of variables that can impact the outcome of the valuation of your property, as well as a few things you can do to make your property look its best. Watch the video below for all the details about property valuations.
What is Lenders Mortgage Insurance?
Lenders mortgage insurance is designed to protect banks when a customer defaults on a loan.
Some people confuse this with mortgage protection insurance, but they are two very different things. Watch below to learn how to differentiate and use each!
Family Equity and Parental Support
It can be quite difficult for first home buyers to get into the property market, as saving enough for a deposit with today’s high prices can be quite a challenge.
Family equity enables parents to help their children saving for that first deposit, by using the parents property as security.
Basic Product Vs Professional Package
What is the difference between a basic product and a professional package? The answer is right here…
Types of Asset Finance
There are three types of asset finance; chattel mortgage, finance leasing and consumer finance. Learn about their differences and uses here!
Equity Loans: What Are They And How Can They Help You?
An equity loan is an interest only facility that has a predetermined limit.
The purpose of this is so that you can draw down what you want when you need it and only pay interest on whatever the balance is at the end of the month.
Whilst the interest rate is higher than most home loans, the flexibility makes equity loans a better option for many people.
Why Reviewing Your Loans Is Important
When your circumstances in life change, it’s a really good idea to come in and conduct a review of your loan.
Whether you have started working more or less, have had a child move out of home, or you just want to get ahead on repaying your loan, we can help you make sure your loan is still working for you.
You may be able to negotiate a better rate, or change the structure of your loan so that it fits better with your current circumstances. There’s lots of different things that we can look at to make sure you are happy with your situation.
Before You Apply For A Loan…
There are a few things you can do before you apply for a loan to ensure that you are as prepared as possible:
- Open a separate bank account.
- Show genuine savings.
- Show good conduct on current accounts.
- Show good payment history on current debts.
Taking these steps before you apply for finance will ensure you have a strong chance of getting a great deal.
Loan Processing Timeframes
There are many variables that influence how long it may take your loan to be processed. Because of this, a loan can take anywhere between a few days to a few weeks to be get conditional approval.
We can help you find a suitable lender based on what timeframe you are hoping for, so you know when you can expect a decision.
Pros and Cons Of Fixing A Loan
Fixing your loan has some definite perks, but there are also downsides, so it is important to think carefully about whether it is going to suit your plans and your lifestyle before you commit to it. If you need help weighing up the decision, we are here to help.
Australian Prudential Regulation Authority Announce Changes to Investment Lending
APRA, the Australian Prudential Regulation Authority has announced that all investment lending can no longer be more than 30% of a lender’s total loan portfolio.
Changes that are now being applied are affecting the most savvy of investors.
This is in addition to changes already in place such as increased interest rates for investment loans.
The new loan to value ratio for interest only lending for the majority of lenders will be 80%. This includes owner occupied and residential investment loans, lines of credit and special borrower packages for the likes of your doctors and dentists.
Most lenders are no longer accepting stand alone interest only external refinances and will only do internal increases on existing debt to an 80% lend.
If you want more information or are unsure how these changes may affect you, book a review with us, or give us a call (02) 4934 8558.