Apply for finance with a mortgage broker

One of the great benefits of buying a property is that you can borrow large sums of money to purchase your first/next property. However, obtaining finance can be quite difficult. The best way to apply for finance is through a mortgage broker.

A mortgage broker can assess your circumstances without bias. You may bank with the ANZ or Westpac on a daily basis. Naturally you’ll want to contact your bank to get a loan. This may seem perfect in theory, but it’s not always the ideal way to start. We have met many Australians who have contacted their bank manager for a loan and received confusing information. Many have also been declined for finance. Why you ask? The bank manager will explain the loan product at a high level. This may suit some people, but for many families, the banking language can been very confusing. You may also present your application incorrectly. This can cause you to have a lower loan capacity or a declined application. The benefit of using a mortgage broker is that they can explain your lending options in a simplified and productive way. They can access many lenders and their lending products. They have access to the bank’s lending calculators and identify which bank offers the best interest rates or the best lending capacity. They can also ascertain what loan is best suited without being bias or restricted to one bank. A bank manager may act in your best interests, but they are limited to what their employer has available. Mortgage brokers are specialists in lending. They source and negotiate loans for a living. A bank manager has multiple tasks and may miss a couple of critical points needed to satisfy your needs. Mortgage brokers are very well connected. They can potentially negotiate a better deal for you at the bank of your choice compared to the bank manager working their. Mortgage brokers also operate high volumes of lending where they are rewarded with access to special deals that may not be public knowledge. At Crest Property Investments, we always engage with many mortgage brokers to ensure our clients are in a financial situation to proceed. A mortgage broker may also be a business owner. An owner will be more accountable and reliable as it’s their own business. Their service is also free to you. They are compensated by a commission through the borrower. If you proceed with loan directly with the bank, the person working with you at the bank is paid the same commission. Mortgage brokers are compensated by any of the banks they recommend. Therefore they are not conflicted to use one bank as they are paid for their service regardless which lender is suggested. We are spoiled with choice when it comes to professional mortgage brokers. If you’d like to learn what your borrowing capacity is, or to have your existing loans reviewed, we love to introduce you to someone near you.

Do you want help buying an investment property?

There are many benefits of owning an investment property. At Crest Property Investments, we help source properties for buyers. If you’d like to learn more about buying a property, please don’t hesitate to contact us. We would welcome the opportunity to help with your property purchase. Our YouTube channel and Market Insights also provide a wealth of information to assist you with many areas relating to property. www.crestproperty.net.au While we have taken care to ensure the information above is true and correct at the time of publication, changes in circumstances and legislation after the displayed date may impact the accuracy of this article. If you want to learn more please contact us. We welcome the opportunity to assist you. December 2018