Form a Long-Lasting Relationship With Our Mortgage Broker

You may have heard your parents talk about their special relationship with a bank manager at some point in their life.  This notion is long gone, however the massive growth in home lending through Mortgage Brokers has changed this for you.

More than 60% of all home loans are now facilitated through independent Mortgage Brokers. This is because so many people realise. They need the best tailored home loan advice for their specific situation. And a personal relationship with a financial expert that can guide them through years of financial investment!  

When you go direct to a bank/lender the team member assisting you may very well do their best to give you the best deal, But they can only give you an option within their own suite of products. And if you don’t quite fit their policies, which some deals don’t, you may find yourself with a decline, which is then marked on your credit file as an enquiry. 

Your Mortgage broker won’t do that.  They will sit with you and carry out a full needs analysis, listening carefully. And noting what is important to you today and in the future.  Taking a broader financial perspective when you have a reasonable understanding of what you want going forward can save you time and most importantly money.  You financial lending structure should consider what you want to do in the future as part of your first home lending.  

You should never apply for any loan product unless you have good reason to be confident it will be approved as this influences your lending. Here is why.

NO ONE LENDER HAS ACCESS TO MOST PRODUCTS 

A lender can only offer you the best loan option they have available within their portfolio of products for their bank. A Broker has access 40 plus lenders and hundreds of home loan products to ensure you have access to the most suitable product for your circumstances and that your application meets the criteria, before any application is made or enquiry to your credit file. You need to protect your credit file. And while one enquiry that doesn’t become a credit facility is not the end of the world; having multiple unnecessary enquiries can set you back months or even years if a lender is concerned.

FULLY ASSESSED PRE-APPROVAL VS APPROVAL IN PRINCIPLE

Talk to us about the difference between these. Only a fully assessed pre-approval is truly useful, the other is often just an indication of your current borrowing capacity. A fully assessed pre-approval can assist you in improving the strength of your offer. And will certainly help you with your sale price negotiation.  Seller’s prefer certainty in their sale which is why a fully assessed pre-approval carries credibility.

YOU DON’T NEED 20% DEPOSIT 

It’s great to have a large deposit but sometimes trying to come up with 20% can leave you constantly chasing your tail as prices continue to go up, so does the amount required to save 20%.  Working with an experienced mortgage broker like Brisbane Home Loans will help as our brokers will explain several options that will allow you to purchase with less than 20% deposit.  Lenders Mortgage Insurance, First Homeowner’s Grant and all the Government assistance packages out there will assist first homeowners in their first home sooner. Our Brokers will help you calculate which programs you qualify for and assist you in any way we can. 

UNDERSTANDING GENUINE SAVINGS

Each lender has a criterion for determining what is genuine savings. Sometimes you can even use the rent you have paid through an agent for the last 12 months to assist you in meeting the genuine savings clause.  Each lender has their own policy so talking to a broker like Brisbane Home Loans will certainly assist you in establishing if you qualify.

As a first home buyer, there is so much to consider and understand which at times can seem overwhelming and stressful.  You can choose it to go alone or take the stress out of it and appoint Brisbane Home Loans as your Mortgage Broker.  

Your Brisbane Home Loan broker will talk you through planning for extra costs. And help you to understand ALL the costs involved in purchasing, so there are no surprises.  They will consider your future circumstances based on your goals and plans.  This is critical to ensure that you don’t find yourself struggling to stay in front if you are planning a family, a break from work and make sure you are ready to deal with interest rates rise.   

We will discuss leaving a contingency buffer, not using all your savings, any Government assistance programs you may qualify for, loan structure. So that you can pay extra, be ready for your next project should you have one.  We will also discourage you from borrowing to your maximum borrowing capacity.  We do this every day, as committed to ensuring it is an exciting process for you and goes smoothly.

You to check out our reviews. And see the number of first home buyers that have used Brisbane Home Loans as their mortgage broker. These are real people like you that experienced the same level of confusion until they held their first meeting with Brisbane Home Loans. Contact us now for a no obligation chat.