Need a Loan...What comes first?
Monday, November 27, 2006
The first thing you need is the right help!
- You can take advantage of a sort-term special from a certain lender. E.g. St George offers a $0 application fee from time to time, and at the time of writing, Adelaide Bank has a six week special on their 3 year Fixed rate.
- Some lenders will lend you more than others. With one scenario we had recently, one major lender would lend $30 000 more than another major lender (both were banks!)
- Certain lenders offer special discounts and offers to certain groups of people. E.g. One major lender will waive mortgage duty for medical staff who have graduated within the past two years, another will give discounts on interest rates for AMEX customers etc.
- If you have a sizable deal, a Broker is in a good position to negotiate your deal with several lenders, to bring down the rate and/or fees
- They will help you work out the best lending structure for your situation by first determining your present and future objectives
- They will support you through the loan process. This includes filling out and submitting the application
- They will be able to supply you with resources to make your borrowing/buying experience easier
- A good broker will be there to answer any questions as long as you have the loan.
- Ask for referrals from your friends and family. This is generally the best way as someone you trust has already experienced the service.
- Ensure the broker is a member of the MIAA (Mortgage Industry Association of Australia)
- Ask the broker what lending institutions he/she represents. Ensure they cover a good selection of the major banks.
- A good broker will never push you into using a particular lender or to fill out an application. They will provide you with all the information you need so you can make an informed choice.
posted by Daniel Serratore @ 9:58 am,
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The Author
Daniel Serratore
Daniel is heading up the new generation of Finance Brokers in Sydney. With his fresh approach and "can do" attitude, Daniel has developed relationships with key people within the Sydney lending market which enables him to source great deals for his clients. Daniel is big on customer service and has built his business purely by referrals from clients and other businesses. You can catch him via the email link on the top of this page
About This Blog
This blog was developed as a resource for our clients and the general public. Although the internet will provide you with many lending providers, I am still to find a resource that shares ideas, tips and general useful info to assist borrowers make the right decisions. Hence this blog was born!
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We have included a "Ask the Guru" link in the sidebar. If you have any lending question, regardless of how silly it may seem - send it to us and we will provide you with answers! Likewise, If you have any feedback on the blog, please let us know via the 'Contact Us' link on the bottom of this page.
