Mark Scherer - Local Mortgage Broker in Highbury, Tea Tree Gully, Modbury and Golden Grove areas
With hundreds of loan products available, it can be difficult to find the home loan that's right for you. Speak with me and I will discuss your options in plain English - that way when it comes to making a decision about your new home, you'll be making an informed decision.
I promise a friendly and professional mortgage broking service at a time and place that suits you.
As your local home loan expert specialising in the following home loans, I look forward to helping you get into your dream home sooner!
- First and Next Home Buyer loans
- Construction loans
- Refinancing for renovations
- Debt consolidation
- Investment loans
- Bridging loans
- Deposit bonds
- Mortgages for the self employed (low document)
WIDE CHOICE: Mortgage Choice has a wide range of Australia's leading lenders, including ANZ Bank, Commonwealth Bank, BankSA, Adelaide Bank and ING Direct to name just a few. This means that I can provide you with genuine choice from many hundreds of loan possibilities. Now that HAS to be better than choosing from just one lender!
BALANCED AND PROFESSIONAL HOME LOAN ADVICE: You deal with me, the franchisee, "the person who owns the store". I put my clients first, assuring you of balanced and professional home loan advice.
TIME-SAVING AND CONVENIENT: I do the running around, the research and comparisons for you, saving you the time and hassle involved in finding the home loan that's right for you. I lodge the application and do all the follow up through to loan approval and beyond. You don't even have to leave home. Now that's convenient!
HIGH VALUE: As a Mortgage Choice franchisee, my commission is the same regardless of the lender you select.* And perhaps best of all, I don't charge you anything for my service - ever!
I can be contacted on
8264 4492 or
0403 577287.
Fight back: health check your home loanIt's time to take control of your mortgage situation. Don't sit back and hope for the best while interest rates rise around you. Health check your home loan now.
Did you know that a borrower with a 30-year $300,000 home loan who switches from a product with an interest rate of 7.8% to another that is the same apart from a 7% rate will save almost $164 per month and just under $59,000 over the loan term?
We suggest these steps for researching refinancing:
1. Ask your lender about your exit fees. Note this when weighing up the upfront costs of moving to, and setting up, another loan versus the overall savings. It may be cheaper than you realise or enough to keep you from moving. Either way, it's better to know than wonder.
2. Negotiate with your lender for a better deal. Your lender may want your business enough to sweeten their offering.
3. Understand what you really need in a home loan. Interest rate is important but it's not everything. There are many loan features available and some have ongoing fees attached. Perhaps you can save money by dropping features you don't use.
4. Research the market to see if there's a better home loan that's tailored to your needs. Trawl the internet, call a wide range of lenders or have a mortgage broker research for you.
5. Consider the pros and cons. Add up your current loan's exit fees and the new loan's set up fees plus any other initial and ongoing costs. Compare that with the savings you will make during the time you will stick with this new loan.
You never know if a better home loan deal is out there until you shop around. A professional mortgage broker with a large lender panel can help with this.
* This information refers only to loans provided by our panel of up to 25 lenders with whom Mortgage Choice has an arrangement, under which it receives commissions and other payments.
Set resolutions to repay your home loan sooner
This year's tips for budgeting, spending and managing your mortgage
Becoming a better budgeter, wising up on spending and making the most of any savings can help borrowers master their mortgage and own their home outright sooner, according to Australia's largest independently-operated mortgage broker, Mortgage Choice.
Company spokesperson, Belinda Williamson said, "If your goal is to pay off your home loan sooner, the beginning of the year is a great time to set new financial resolutions."
"Challenge yourself to ramp up your home loan repayments by readjusting your budget and finding ways to make extra contributions to your mortgage.
"Well thought-out saving, spending and loan repayment strategy decisions can help put you months or even years closer to living mortgage free. Keep in mind even small financial changes can have a big impact on how much interest you pay over the life of your loan and the length of your loan term."
Mortgage Choice offers these financial resolutions to help borrowers own their home outright sooner:
Resolution 1. Become best buddies with your budget
If you don't already have a budget, the New Year is the ideal time to start one. Ensure it factors in all your regular spending - home and/or other loans, utility bills, medical expenses, memberships, grocery bills, insurance costs, etc. Don't forget to include funds for socialising treats. Be honest with your budget and refer to it each time you contemplate a new expense.
Resolution 2. Slash your cash limit
Consider ways to cut your daily spend. For instance, a daily caffeine hit at $4 per weekday equates to $80 per month. Did you know by making a coffee an every-second-day spend and contributing $40 extra per month to your mortgage from day one (based on a $300,000 loan over 30 years at 7%) could reduce the total interest owed by around $31,000 and the loan term by almost 2 years?
Resolution 3. Review your home loan with a fine-toothed comb
There could be underutilised loan features costing you money or features worth refinancing for. Get to know your loan's features. Your mortgage broker can help review your current loan and its features and identify any opportunities to shop around for something better suited to your goals.
Resolution 4. When rates fall, keep repaying more
If your home loan's interest rate has recently fallen, consider keeping your repayments at the higher, pre-fall rate. For example, take a home loan of $300,000 at 7% over 30 years. If your rate reduces to 6.5% and you keep repaying your loan as if the interest rate was still 7%, you could shave approximately 4 years off your loan term and save around $60,000 in interest owed.
Resolution 5. Make the move from monthly to fortnightly
Switching your monthly repayment to fortnightly may make a significant difference to your loan term and the interest owed. There are 12 months and 26 fortnights in one calendar year; by paying fortnightly, you make the equivalent of 13 monthly repayments. The savings, based on a $300,000 loan at 7% equates to around $103,000 in interest and about 6 years and 6 months off the loan term.