Chris Vitale
Letitia Vitale
Steady cash rate warms winter chill
Potential and existing property market participants will be cheering the Reserve Bank of Australia's decision to keep our cash rate steady at 4.5% for a third consecutive month.
The decision is a positive influence on what is sure to be a very active spring selling season.
It is likely the rate will sit at 4.5% until at least the next round of CPI data is released, on 27 October.
This will be a great relief for anyone repaying a variable interest loan or approaching the end of their fixed rate term, just as it will be for those who are looking forward to jumping into the market during spring.
Now, there is another reason to make a move with confidence. The steady cash rate may also encourage some borrowers to utilise equity they have built up in order to update or extend.
Others may be encouraged to visit a mortgage broker such as myself for a home loan health check. The market has changed considerably in recent times, so borrowers should be exploring their options to see if they can take advantage of that and find a more suitable and/or cheaper loan
To find out how your loan compares to others currently in the market, call me or our team on 07 3211 7744
As your local Mortgage Choice broker servicing Brisbane and surrounding suburbs of, Spring Hill, Paddington, New Farm, Fortitude Valley, Kangaroo Point and Rosalie and beyond. I look forward to helping you achieve your dream of buying your first home or investment property. If you're already in your home, as your local mortgage broker, I can also assist you with obtaining a loan for renovation or refinance for easier repayments.
As a business operator and franchise owner, I am able to assess and evaluate the most appropriate loan for your needs and circumstances. I do all the follow-up and general running around, which of course, saves you time, energy and stress - leaving you to enjoy this exciting time in your life. I am fully mobile and my office is your home, your office or wherever you choose and at a time that is most suited to you.
I have recently purchased my own home in Brisbane. So you can see I'm a fairly recent homebuyer, and naturally have empathy and understanding with the stresses (both good and bad) in owning one's dream home.
I am an active member of our industry body, MFAA, and I undertake regular training to keep up-to-date on the numerous amount of loan products changes, and new loan types available to you.
With my diverse background and skills, I now do what I like best which is to assisting people achieve their dreams and goals. I enjoy having my own business and being able to share in the joys of property ownership with you.
Contact me today on 07 3211 7744
Testimonials
"Buying you first home is a difficult and can be a very stressful process. A friend highly recommended mortgage choice, Chris Vitale was our mortgage broker he was clear, concise and found us the best deal for our situation saving us time and money. The team was also great with updated phone calls and we were never in the dark." - Marian Yusi Spring Hill
"I was extremely pleased with my experience dealing with Mortgage Choice, form the first day through to settlement it was very smooth. I will be recommending Mortgage Choice to as many people as I can keep up the great service team! " Fran McNaughton Townsville
"On behalf of my family and myself, we would like to thank you both on the effort and time that was dedicated for the approval of our new house. We were both very impressed with your company, "Mortgage Choice", and the professionalism with which you went about creating the final outcome for us. We heard about your business by word of mouth and we can assure you, that same word will not stop at us. On that note, you are both invited to our house warming BBQ on the 5th August starting at 11.00am. Light refreshments will be supplied. We wish both you and your company all the best for the future, and we hope to see you there."
- Ian & Kellie
"This letter is written to you to express the sincere thanks of St Mark's Lutheran Church congregation. We are delighted with our smart new sign at the highway frontage of the church...it looks so much better, like an announcement to the world that we are still alive and kicking! It was an extremely generous gesture. Our thanks once again. - Sherry, St Mark's Church Council
How to choose a home loan
Here are 5 essential tips that you should consider when choosing a home loan:
1. Interest rates
Interest rate is obviously important, but remember that you are not simply looking for the home loan with the lowest interest rate because there are many other considerations.
For example, the mortgage lender with the ‘best’ interest rate may have high ongoing fees and therefore your home loan may cost you more in the long term than a similar one with a higher interest rate.
Be sure to consider ‘break and switch’ costs as well because if you decide to pay out your home loan or refinance before time will you be charged exorbitant fees to do so.
Also, be wary of an introductory rate. It may be ‘cheap’ at the start but it may also revert to a much higher rate after once the introductory term has finished. You should try to negotiate an interest rate discount with your mortgage lender over the longer term.
2. Features and flexibility
What are the home loan features that you need? Home loans with the ‘best’ interest rate may not have all the features you need or be as flexible as you need it to be. For example, do you want the ability to pay extra so you can prepare yourself for future rate rises and also create a buffer if your financial circumstances change?
You also need to consider the accessibility of your mortgage lender in terms of ATM, internet, face-to-face contact, etc. Decide what you need and ask whether your chosen home loan lender has the features available.
3. Consider the current home loan approval times
Is your home loan approval time critical? If so, the lender with the ‘best’ home loan may not be able to get your loan approved in time. During peak processing periods, lender service times can vary between 2 to 20 working days.
4. Compare home loan products
Visit a reputable mortgage broker with more than 20 lenders on their panel. This way, you can research and compare a broad range of home loans and lenders all within the one visit.