Why Use a Mortgage Broker
Tailored solution to match your needs
As part of Mortgage Broker our assessment, I will help to identify what loan features you might need and want. Your existing loan might already be the best solution for your needs, however unless you know what other lenders are offering it is impossible to know for sure. As a mortgage professional, I have access to lots of different lenders and home loan products. I am constantly comparing what each one has to offer, so that I can find the right solutions for my clients.
Good loan structure, competitive Interest rates
Lenders don’t always help you to secure the most suitable loan structure. Sometimes it’s because the person assisting you lacks knowledge, sometimes it’s because the lender is focused on their bottom line. Your loan structure should be set up to suit your long term plans. But it shouldn’t come at a higher price. I have helped hundreds of my clients save interest costs by refinancing and renegotiating the rates on their existing home and investment loans. I can do the same for you.
Professional advice
I have assisted hundreds of clients refinance to more suitable loans. However, I will not suggest you refinance unless there’s a substantial benefit for you to do so. I’ll look at all the costs involved, provide you with the pros and cons of each option, and then manage the entire process should you wish to go ahead. SIMPLY INTELLIGENT FINANCE WHEN IS THE RIGHT TIME TO REFINANCE?
Things change, and chances are since you got your home loan interest rates may have moved, and life has too. Has the official cash rate changed since your current loan settled? Has the rate your lender is charging you changed? What about the fees and charges? Chances are the market has changed too. New products designed to attract borrowers are always being introduced.
Even though most loans are around 30 years in length, you may be surprised to hear that Australians often change their home loan every 4-5 years as they refinance. Refinancing is a chance to look at what’s out there and to check to see whether your current loan is still the right one for you. If it’s not, it may be time to refinance If you are looking to switch, this guide contains some of the key things you may want to consider. Reviewing your home loan every year or two is a very good habit to get into. After all, for most households, their home loan repayments are their single largest expense.
Pay off your mortgage faster!
If you’re striving to be mortgage free, there’s a good chance there may be a more appropriate product to meet your needs. A more suitable loan structure, and an exceptionally low interest rate, may be all many borrowers need to motivate themselves to pay off their home loan sooner. Now is the perfect time to talk to your mortgage professional and consider whether a new loan will see you on the road to financial freedom – fast!
Better interest rates and lower repayments
Rates and mortgage deals are constantly on the move. To make the most of a competitive mortgage market, you might want to evaluate the loan product you currently have. SIMPLY INTELLIGENT FINANCE
Consolidate your debt
Consolidating your debts, particularly credit cards or personal loans which normally have a much higher interest rate, into your home loan can save you thousands of dollars in interest charges. Rolling your debts into one monthly or fortnightly repayment can also help make juggling your finances a little easier, while also improving your cash flow too.
Avoid monthly fees and charges
Some lenders charge a monthly service fee. Competition between lenders has increased and some now waive administration fees, so refinancing your home loan with another lender can be a smart move to help cut your costs. Many lenders now charge around $400 in annual package fees.
Unlocking equity
As you pay off your mortgage you will accumulate equity in your home. As long as you are capable of meeting your loan repayments, refinancing your mortgage can help you tap into the value that you’ve built up, using it for other purposes such as home improvements or purchasing an investment property.
Take Advantage of An Offset Account
The main difference between an offset account and a savings account is that instead of earning interest on money sitting in a transaction account, and paying tax on the interest, you save interest at the rate you’re paying on the loan it is linked to. This can work to your advantage as the interest rate you pay on your home loan is generally higher than the rate you earn on a savings account. This means that for no additional risk, you can save more interest than you could earn in a savings account, and it’s tax free.