Loans for First Home Buyers

Finding a home loan that suits your needs is no easy task.

There are a staggering number of home loans on the market.  The different product names and features might confuse you.  We help you compare home loans from a range of lenders.

Prepare your finances

Your first step should be to arrange an appointment with one of our brokers.

We work with you to determine your borrowing capacity and purchasing power so you know exactly what your budget is.  We help you determine which loans best suit you and their features and benefits.  We guide you on what you need to do to be loan-ready and what documentation to provide.  A guide is available, contact us for a copy.

Family Pledges

If you have the borrowing capacity but not the deposit then a Family Pledge of an alternate security offered by your parents may work for you.  A guide is available, contact us for a copy.

Choosing a first home

Your next step is to start scoping out the property market. Being a first home buyer do your homework, put together a checklist of what you want in your property and spend a few months getting a feel for the property market and what price properties in your area of interest are selling for. Remember, you can’t do too much research, so don’t rush in!  A concise guide is available, contact us for a copy.

Making an offer

Now is the time to appoint a conveyancer.  We can provide a recommendation.

Once you’ve properly inspected the property (assuming it’s for sale by ‘private treaty’ rather than by auction), you’re ready to make an offer. You can actually make your offer subject to inspections and formal loan approval, so long as this is written into the offer.  This is what’s known as a ‘conditional offer’.  You will pay a holding deposit to make the offer binding.

When the vendor accepts the offer contracts are exchanged and you will be required to pay the balance of your deposit.  Your broker will complete the loan application and approval process.  Your conveyancer will manage the settlement.

If you’d like to discuss your home loan options, contact us now.

Loans for Buying your next home

This is a perfect time to reassess your finances and conduct a mortgage ‘health check’. This means looking at your financial position and making any necessary changes.

Obtaining a loan for your next home may be straight forward.  However, if you have an existing home to sell then you might like to consider a Bridging Loan.  We would be pleased to explain how a Bridging Loan works.  A guide is available, contact us for a copy.

Loans for Investors

With increased pressure on housing prices, the investment property loan market is in a state of constant change.  We can discuss with you:

• Which lenders have an appetite for investor loans and which do not
• Interest only versus principle and interest loans
• Using equity as a deposit
• Fixed rates versus variable rates
• State charges applicable
• Mortgage insurances implications, if applicable

Refinancing

Refinancing simply refers to the process of changing from one home loan to another and there are several reasons why refinancing could improve your financial position.

Refinancing could:

• Unlock equity in an existing property to fund an investment property, a renovation or other major financial commitment
• Improve loan flexibility to better suit your circumstances
• Secure you a lower interest rate on your home loan and save thousands of dollars’ worth of interest
• Assist you to manage your debts more effectively and regain financial control

If you’d like to find out more about refinancing, contact one of our brokers.

Do you need to refinance?

Successful refinancing is about seizing an opportunity to improve your outcomes.  Reasons could include, among other things:

• Better interest rates to cut costs
• Consolidation of debts
• Better loan product features
• Restructuring of loans

Motor Vehicle Finance

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