Mortgage Brokers Mean Better Borrowing

The lending landscape in Australia is complex, and banks and other financial institutions are continually revising their policies to keep up with regulatory changes. It can be difficult even for the smartest minds to navigate all the options.

Efforts to limit growth in investment property ownership mean banks have increased rates to offset higher lending costs thanks to the new banking capital requirements issued by APRA, the regulatory body that governs home loan lenders in Australia.

Stricter criteria on servicing investment property loans have also been accompanied by a reduction in loan-to-value ratios (LVR) for investment properties meaning buyers need a bigger deposit and evidence they can still pay off their loan if interest rates go up.

But finding a good deal for your next investment property loan is not the only reason why getting a mortgage broker is a good idea.

Save time and money … simple

In an ideal world everyone looking for a loan would have access to all the options, and it would simply be a matter of ticking the boxes to work out the best fit.

But in the real world finding the time to get up to speed on just a fraction of the available loans in an ever changing market, especially if your circumstances are out of the ordinary, is pretty much impossible.

Mortgage brokers are specialists and they know and understand the lending market, they deal with it every day. This expertise can save you time:
    • Time spent researching and contacting potential lenders.
    • Time spent waiting for approval from a lender who is dragging their feet because you probably shouldn’t have applied there in the first place.
    • Time spent gathering unnecessary documentation just to prove you can service the loan when an equally good lender you didn’t know about will offer you the same deal or better without the paperwork.

A mortgage brokers’ expertise extends beyond just knowing what’s available on the home loan market.

A good broker can leverage their relationships with lenders to negotiate a better deal on your behalf, and make sure that even when your business is secured you still benefit from new and better discounts in the future.

More choice and better service … simple

Mortgage brokers operate independently from any single lender which means you benefit from objective advice that fits with your personal circumstances.

It also means they have access to products for pretty much every lender on the market. This includes lenders that might be difficult for you to access, such as non-bank financial institutions.

A good mortgage broker will be in it for the long haul, it’s their livelihood. Which means whenever you are in the market for a loan you can bank on an established relationship with a professional who knows your borrowing history.

Ultimately the loan you choose is your decision, but with the help of a mortgage broker you will be better informed about the options, get your loan approved more quickly, and get the best possible rate deal so you pay less over the life of your loan.

So whether it’s your next business, car or home loan, your latest investment property or you’re just interested in knowing if you can get a better deal on your current home loan Stephen Yang can help you find the loan that best fits your circumstances.

This email address is being protected from spambots. You need JavaScript enabled to view it. or call us on 07 3255 1455 to arrange a meeting for a complimentary discussion on how we can find the best home loan solution for you.