John Kofiotis
Helen Syrakis
SPECIALIST HOME LOAN BROKER IN SUMMER HILL AND THE INNER WEST SUBURBS OF SYDNEY
WHY MORTGAGE CHOICE?
We have 24 lenders on our panel to find the right home loan for you. This means we can offer you a wide range of professional Home Loan advice depending on your requirements including:
First Home Buyers
Refinancing Existing Home Loans
Debt Consolidation
Investment Property Loans
Fixed vs Variable Rate decisions
Selling or Moving Home
Top up existing loans
When you meet with us we can compare your requirements with all of Australia's leading banks and lenders on our panel. Why take the risk that the one bank you deal with will best suit your financial needs?
We will guide you through the whole process of finding a suitable loan from start to finish, and we also handle many of the forms on your behalf.
Call 9799 3500 to speak with John or Helen.
Our professional approach and knowledge has assisted us in building and maintaining long term client relationships and a successful referral business.
INVESTORS HOLDING OUT FOR SPRING
Warmer weather will combine with other favourable conditions to put heat back into the investment property market, according to Australia's largest independently-owned mortgage broker.
The latest ABS housing finance report saw the value of investment housing loans drop for the first time in four months in June 2010 by a seasonally adjusted 3.6% to $7.3 billion, the lowest value reached since February this year. However, this compared favourably to $6.5 billion in June 2009.
Many market commentators say this buyer group has been holding back until the election is over and the traditionally strong spring selling season begins.
Local franchise owner for Mortgage Choice John Kofiotis said, "According to RP Data, from a seasonal point of view Australia typically sees higher than average property activity in the September to November period. This year should be no exception."
"With property prices plateauing in many areas and dropping in some, rental prices increasing, strong population growth continuing, consumer sentiment rising and the share market continuing to be unpredictable, confidence in property investment is mounting.
"Also, the government's response to the Henry Tax Review means there is little concern over negative gearing being abolished. This comes as welcome news for renters also, as many would have suffered from rising rents if landlords had to compensate for the absent tax advantages."
With housing undersupply a serious issue in Australia and ABS building approval figures showing a fall for a third consecutive month in June to reach the lowest level since August last year, many property investors believe the long term potential of property as a stable asset class is excellent.
"With fewer new properties there is bound to be a pick up in rental price growth, which we've already seen. Australian Property Monitors' Rental Market Report for the June 2010 quarter shows from April to June rental prices for houses rose nationally by 0.7%, bringing annual growth to a small but encouraging 3.1%. The unit market was stronger, with rents increasing nationally during the last quarter by 3.5%, bringing the annual growth rate to 4.2%," John said.
"This bodes well for people who research the property market thoroughly, have a long-term strategy in mind and investigate all their finance options so they make a sound investment decision.
"Those looking to buy need to be aware that lenders have noticeably tightened their loan assessment criteria for investors as well as owner occupiers. Many have limited their loan to value ratios to 90% of the purchase price for both buyer groups, with some going even lower. Also, genuine savings are essential, whether in the form of a cash deposit or existing property equity. Both types of buyers will need to plan ahead to satisfy their chosen lender's requirements.
"Preparing for rate movements is also vital to the planning process. The cash rate will probably remain stable for the next couple of months but many lenders are signalling that funding costs may force them to raise borrowing costs independently of the RBA's rate cycle.
"It will be interesting to see how many Australian investors spring into the property market over the next quarter and what effect, if any, lender rate rises will have."
Testimonials
TESTIMONIAL: Recently John and the team from Mortgage Choice Summer Hill helped us to fulfill our dream to purchase a property on the mid north coast of NSW. We wanted to buy this property with two other family members and their partners. Half of us were self employed and for two members this was their first home. We were all a bit daunted as to how to go about this deal but for John this purchase was no problem. He assisted us from the start and explained all our options very clearly. His friendly manner helped to relieve any anxiety and he was always there to answer any questions. We believe that we received the best deal and loan on offer thanks to John’s expertise. Now we can all look forward to spending holidays by the beach we enjoyed when we were kids. Certainly we would have no hesitation in recommending John and the team from Mortgage Choice Summer Hill - David & Robin
TESTIMONIAL: Without your help the task of buying our house could have gone on for years – you both made it easy and fast, I cannot thank you enough and would highly recommend your office to anyone who asks.
Karen - Wareemba
TESTIMONIAL: John did a great job handling my mortgage. He was very professional, he gave me the reassurance I needed at the time, as it was a very difficult loan. I highly recommend him as the ideal Mortgage Broker.
Vanessa - Balmain NSW
TESTIMONIAL: I had no idea about how to buy a home or any understanding of all the options in the market. After coming to Mortgage Choice, I was given step by step advice for all aspects of the process and was kept informed of all developments. Tina and John provided referrals to other people necessary to reach a settlement on a house. I highly recommend Tina and John for their professional and friendly assistance. Margaret - Glebe NSW
TESTIMONIAL: Helen worked very hard for me in order to get approved for my home loan when the time was tight. I couldn't have done without her!!
Joan - Lilyfield NSW
TESTIMONIAL: Great to have someone help us through the maze of mortgage products out there without charging us a fee! Thanks Helen for the great service.
Ally & Toni - Dulwich Hill NSW
TESTIMONIAL: Stelios & I have achieved all the goals/dreams we set out to achieve this year & its all thanks to you John & the Mortgage Choice service - Thank You very much.
Beryl & Stelios - Ashfield NSW
TESTIMONIAL: Helen was very professional & has a personal touch. Would definately come back & highly recommend.
Trish & Danny - Rozelle NSW
TESTIMONIAL: Thankyou for helping me out with my first apartment. Im glad I had your help Helen with sorting out my First Home Buyer Benefits. Melinda - Drummoyne NSW
TESTIMONIAL: Everything became so much clearer once i spoke to John, i didnt really understand all the bank jargon. Thanks for translating John.
Ashley - Petersham NSW
TESTIMONIAL: Buying our First Home was daunting, but John made the home loan side of things so easy, we feel we could do it again and again! Thanks for your patience.
Jackie & Tony - Lewisham NSW
TESTIMONIAL: Excellent service, professionally handled from start to finish.
Jack - Birchgrove NSW
TESTIMONIAL: We were very happy. John made the whole process less stressful.
Jeff & Emily - Leichhardt NSW
TESTIMONIAL: Going to one place to shop around for our home loan made it so much easier than going to all the banks. Appreciate your help Helen.
Leanne & Brian - Drummoyne NSW
TESTIMONIAL: Buying our second investment property was easy as we knew getting our mortgage through Helen would be smooth sailing, thanks again.
Martin & Beth - Forest Lodge NSW
TESTIMONIAL: Helen has gone above & beyond for me on a number of occassions. Helen's high standard of service makes me feel as though I am her priority customer eventhough I know she has many other clients. I would recommend Helen to anyone seeking a professional mortgage broker who is both thorough and experienced.
Sonya & Harry - Marrickville NSW
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.