How Does Working With Our Mortgage Broker Highvale Benefit You?

If you’re looking for a quiet, friendly community with an acreage feel to it, Highvale is the place to be. A 40-minute drive to the Brisbane CBD, this family-friendly suburb has an excellent state school and many great local cafes. It’s great for nature-lovers too, since the place is surrounded by forests and national parks. Local pubs here open only after dinnertime, which we think is terrific if the nightlife isn’t a concern for you. If you’re looking for something different, Highvale is a paradise and hidden gem that people have yet to discover. If you wish to discover the beauty of this suburb, don’t hesitate to call our mortgage broker Highvale today!

What Can You Use Mortgages For?

Mortgages are financial terms that refer to how you can acquire loans by using collateral as security. Mortgaging is now an in-demand business as well, which is why more and more people are entering this field to help others get loans for themselves.

Banks and other financial institutions often offer mortgages, and how much you qualify for depends on your personal property’s worth to repay the debt.

Mortgages are usually used to buy or build personal and commercial properties. And while there is a standard method in acquiring them, interest rates and other formalities vary per lender.

What Types of Mortgages Can Our Mortgage Broker Highvale Help You Get?

Buying properties usually isn’t possible without the help of banks and other lenders. So if you wish to purchase a house but don’t have the whole selling price yet, then you can consider mortgage loans as your new best friend.

However, with a lot of options available, picking the right one can be confusing. Let us list down your options, which type is great for whom, and together let’s see which may be perfect for you.

Fixed-Rate Loans

As the name suggests, fixed-rate loans involve a fixed cost that you have to pay each month. This is why our mortgage broker Highvale recommends them if you’re on a budget since you know how much of your monthly salary will go to pay off the loan.

But the rates are higher than the current variable, which means they can be a bit expensive. Plus, if we find you a new product that we think better suits your needs, switching can be costly since most lenders charge a break-cost fee.

Variable Loans

These loans depend on the ever-changing cash rates of the Reserve Bank of Australia and the constant rise and fall of interest rates. This means you can have low payments in one month and then high in some.

Yes, variable loans are risky. But they’re still the go-to option of our mortgage broker Highvale clients since they let them repay in a variety of ways. And if we find you a loan that meets your needs even more, changing providers is easy because most lenders don’t charge a break-cost fee.

Guarantor Loans

Want to borrow up to 80% of the purchase price without paying the mortgage lender insurance? Then guarantor loans are what you’re looking for.

Just ask your parents or a close family friend if they can be your guarantor. If they agree, a portion of their house now becomes your collateral. These loans are perfect if you’re a first-time buyer and new to the property market.

Line-of-Credit Loans

Our mortgage broker Highvale recommends this loan if you’re planning to renovate your house. Also called “home equity loans,” these let you make the most out of your loan and use it for more important expenses. It can be also used in whole or bit by bit.

However, we won’t recommend this if you’re an impulsive buyer. This is because once you’ve drawn from your line of credit, you need to make repayments right away to compensate for what you borrowed. Skipping this will only extend your loan term.

Interest-Only Loans

These are precisely what they sound like. Interest-only loans let you skip on paying the principal amount and just worry about the interest—for now. These typically last for seven years before going back to the “traditional” route.

Our mortgage broker Highvale thinks these are perfect if you’re a young homebuyer or have a low income. Interest-only loans are also ideal if you’re an investor looking for negative gearing or are planning to sell your home to make some income (given it won’t depreciate.)

Investment Property Loans

We think these have the strictest requirements. First, you must prove to the lender that the funds you’ve set aside are enough to repay the entire loan amount. Some may even require that these funds be higher compared to if they were for a home loan!

Then, they’ll make sure that the rental income isn’t enough to cover monthly repayments. This is because the property should affect your income-to-debt ratio or the part of your income used to pay off the loan.

You should also be aware of the property’s potential for appreciation during the loan. This is why lenders always check the trends in housing prices and vacancy rates.

What Can Our Mortgage Broker Highvale Do For You?

Banks were always the only choice of borrowers when applying for a mortgage, causing little to no competition among financial institutions. But not anymore. Borrowers now take their time comparing products offered by different institutions—and this eventually led to the birth of our profession.

We’ll act as your “middleman” and are here to help you find the product to fund your next financial goal. We’re required by law to have an ACL (Australian Credit License) or be a credit representative of a licensee (aggregator) to serve as your protection if a lawsuit happens.

But how exactly can our mortgage broker Highvale benefit you, anyway?

We Know How the System Works

Do you know the difference between fixed-rate and variable loans? As your mortgaging experts, we can explain them thoroughly and discuss what we think is right for you.

There’s also a big difference between us and mortgage advisors. While we work independently and spend our time comparing products from several institutions, mortgage advisors work for a certain bank and are only concerned about selling you products from that bank—even if they don’t meet your needs.

We Save Your Time and Money

As mentioned, we act as your “middlemen” and negotiate with various lenders until we find the right product. Our mortgage broker Highvale is pretty flexible too, and can meet with lenders even after office hours to save you from the headache and to make the application process as smooth as possible.

We Protect Your Credit Score

If you apply to banks for a mortgage and get rejected even by just one, it will show in your history and inevitably affect your credit score. We prevent this from happening by applying using your financial information and never your identity. Through this, we have a bigger chance of finding you the right product while protecting your credit score at the same time.

We Deal With Administrative Tasks

Think working with our mortgage broker Highvale is a waste of time? Then be ready to take care of a lot of administrative tasks! One of our jobs is to help you get the documents you need for a stress-free loan application process. An example document is a pre-credit authorization, which lets you know if you’re eligible for a loan and how much you can possibly get.

We Prevent You From Making Silly Mistakes

The most common mistake people make is choosing a product with the lowest rate without reading the conditions that come with it. As your mortgage broker, our job is to explain the terms completely so you won’t end up in a bad situation because you were misinformed.

Your Place Mortgage Brokers: Your Mortgage Broker Highvale

We aim to help you get your dream property. Whether you’re just buying your new house or a seasoned property investor, we’re here to help you pick and secure the right loan and assist you with the entire loaning process.

If buying or investing in a property in Highvale seems right for you, don’t hesitate to contact our mortgage broker today!