Scott Partridge
Mob: 0411 505 536
Mortgage Choice Parramatta Your local Mortgage Broker
Scott Partridge is your specialist local Mortgage Choice broker for Parramatta. He has operated as a Mortgage Choice broker in Parramatta since 1998 and offers an exceptional level of expertise in the home loan field.
Whether you are a first home buyer, looking to invest in property or simply want to know if your current home loan still meets your needs, Scott can help. He is able to assist you with information, advice and home loan applications for:
* First home buyers
* Debt consolidation
* Property investment loans
* Refinancing and upgrades
* Loans for renovations
* Low Doc loans
Get those questions "How much can I borrow?" and "Can I afford an investment property" answered today!
WHAT LOAN WILL SUIT ME?
With so many banks and lenders, we all know how difficult it is to find the right home loan product suited to your individual needs and circumstances. It can be confusing and definitely time consuming. How can you be sure the home loan product you select won't end up costing you more?
THE SERVICE
As your Mortgage Choice consultant Scott acts on your behalf when searching for the most suitable home loan from a prospective bank or lender. He will compare the various home loan products available on the market from the Mortgage Choice panel of lenders, saving you the time and stress involved in this process.
Mortgage Choice represents a large range of banks and lenders and Scott can identify which home loan best suits your requirements by using our unique Qualifier software. He is able to cut through the maze of products to find the one that best suits your needs, budget and lifestyle.
Scott's extensive experience in the home loan industry along with his commercial property management, conveyancing, real estate, valuation and accounting training will ensure the home loan advice you receive is suitable for your requirements.
Best of all, as a Mortgage Choice broker, there is no charge to you for my service!
As your MIAA accredited mortgage broker, let Scott do all the running around while you just find your dream home.
Contact Scott Partridge today on 02 9659 2000, 0411 505 536 or email: scott.partridge@mortgagechoice.com.au
Avoiding a grand exit
In today's competitive market, many lenders have reduced their upfront home loan fees in favour of 'exit fees' to dissuade borrowers from bailing out early.
Get the full story on exit fees in this month's edition of Mortgage Choices.
In this issue of Mortgage Choices
- Building a dream - construction loans
- Financial pressures? - it may be time to revisit your budget
- Low doc loans
- Property valuations - what you need to know
- Win $6000 to spend at Flight Centre - escape on your dream holiday
Testimonials
Testimonials:
Thanks for putting together a complete financial arrangement that saved us, in the end, thousands of dollars.
Doug Cross, Merrylands NSW
You've made the process nice and smooth. You're very thorough and thoughtful.
Rob & Jayne Caldwell, Northmead NSW
Very accessible, great service and knowledge.
Christopher & Christine Cassar, Oatlands NSW
Engaging the Experts.... While borrowers can do the legwork on their own, it can be a time-consuming and frustrating exercise.
A finance broker who has the experience and knowledge about the loan application process and has developed good relationships with various lenders is a vitally important part of the purchasing process. They can provide you with competent, comprehensive, unbiased, researched advice, tailored to your individual circumstances. In addition a finance professional can answer questions you may have regarding finance, either in a general sense or as they specifically relate to your situation.
It’s important to note that investors should always be upfront and honest at all times in providing information to allow the broker to do their job competently and ultimately provide you with the best possible package.
Rental Squeeze Can Be Advantageous
It may price potential buyers back into the market
With the rental market at its tightest in two decades, Mortgage Choice sees buying an investment property as a clever option for many Australians – as long as they do their research on rental yield and capital growth potential, and their financial situation allows it.
One main group who can benefit from such a move is potential first homebuyers who feel they have been priced out of entering the market. They may have been priced out of buying a home in the area they want to live in but with a clever investment property purchase and a little patience, these homebuyers-to-be could find themselves residing in their desired suburb sooner than they think.
Recent Australian Bureau of Statistics data showed the total value of housing commitments rose a seasonally adjusted 3.7% in January with the total value of investment housing commitments contributing largely to the rise, increasing by a seasonally adjusted 8.3% over the course of the month.
One only has to look at the surge in property values in an area such as Mandurah in Western Australia to see that the right buy at the right time can produce strong capital growth for property owners. The latest Real Estate Institute of Australia figures show the five-year average return on property value ranges between 15.7% and 25.2% in all capital cities except Sydney (5.2% for three-bedroom houses and 4.8% for two-bedroom other dwellings). Over ten years, the average return is in double-digit figures for every capital city. Other areas, such as Mandurah, show growth in value well outside this range.
For people wanting to get into their first home, initially buying an investment property in an area about to experience rapidly rising values above and beyond the average (which takes careful research), then waiting until its value has increased significantly, can put them in a much better financial position for buying a home.
They can use the equity (the dollar difference between the outstanding mortgage balance and the property’s current value) to purchase another property because banks will lend money against this equity.
However, rental yield potential must also be considered along with the availability of tenants. A property that steadily grows in value is certainly beneficial for buying another property but the owner also should be receiving a reasonable return on their investment - if only to help pay the mortgage.
According to Australian Property Monitors, despite rents in Perth rising by 20% in the past year, its strong property market has reduced gross rental yield to 3.6%, with cities such as Darwin, Canberra and Brisbane showing far better yields. And with the country’s continuing low vacancy rates, there is no sign of rental growth to slow over the short term. We are seeing investment yields and returns improving.
Potential investors should always speak to their accountant and/or a financial advisor to determine the strengths, opportunities and risks involved, as well as understanding the market and doing their research so they make informed decisions.
Our Team
WELCOME TO MORTGAGE CHOICE PARRAMATTA
Located in the heart of Sydney, Parramatta City is Australia's sixth largest CBD and is the economic capital of Western Sydney.
As the gateway to Western Sydney, Parramatta is pivotal to the State Government's long term Metropolitan Strategy. In February 2006, Premier Iemma recogised the importance of Parramatta as being one of the 6 key regional cities significant to NSW's economic growth.
Parramatta's growing population, low unemployment and a large skilled labour force offers a number of distinct advantages for business.
With a vibrant economy, the City is experiencing growth across a number industry sectors including finance & insurance, medical health services, retail and professional services. A further 30,000 additional jobs are forecast for the City over the next 20 years.
Centrally located, Parramatta is easily accessible by road, rail and ferry. The newly completed $100 million Transport Interchange brings over 50,000 people into the City on a daily basis, quickly and efficiently.
For the 86,000 people who work in the City, Parramatta offers a diverse range of activities.The Parramatta River and the 84 hectare Parramatta Park are within walking distance from the CBD as are some of Australia's oldest heritage buildings and sites. The City has some of finest cafes in Sydney and offers a rich shopping experience. Whatever your interest " be it movies, theatre, music or the performing arts " Parramatta is open for business 7 days a week.
Team Profiles
Scott Partridge
Scott joined Mortgage Choice in 1998 and offers an exception level of expertise in the home loan field.
Over the years Scott has seen his business grow along with the Parramatta community. He has been recognised as a Mortgage Choice High Flyer several years running, which has been a "nice recognition for all the hard work". His long term goal is to continue to offer the community a customer focused broker service with professional standards which are synonymous with the Mortgage Choice name.
He has a genuine passion for property and finance, and you'll discover that he has a high level of enthusiasm, personal service and dedication.
Once he understand your needs, he will analyse the home loans available and match the most appropriate home loan to your needs, saving you precious time. Using Scott's services eliminates the hassle of shopping around, so you don't need to go from lender to lender, getting anxious and confused. He works diligently to get the home loan that is suitable for YOU!
Best of all, Mortgage Choice does not charge you for this service.
All you have to do is decide when you'd like to meet and get your home loan documentation in order. Scott will do all the chasing and running around on your behalf.
Scott's aim is to make this exciting time a most pleasant and enjoyable one for YOU!
Call Scott today to see how he can help you achieve your financial goals.
Franchise Manager
P: 02 9659 2000
F: 02 8850 0991
E: scott.partridge@mortgagechoice.com.au
Sue Crawley
Sue has worked in the financial services field for over 30 years in various roles with a number of well known banks, building societies and credit unions. Sue has a wealth of experience in lending, administration, customer service and management and commenced with Mortgage Choice, Parramatta and Hills in June 07.
Sue states "I am enjoying my role as the work is quite varied and Scott and Peter are easy to work with. The loan process involves a lot information that needs to be entered into various systems, scanned, filed, emailed and faxed. It is my responsibility to keep the office organised and to input data where needed. I am also enjoying the challenge of updating my lending knowledge which had not been used for over 10 years!"
Administration Manager
P: 02 9659 2000
F: 02 8850 0991
E: sue.crawley@mortgagechoice.com.au
Self-help tips for those paying off a variable rate mortgage:
1. Debt consolidation
Think about rolling all personal loans and other debts into your mortgage. This means you will be repaying them at a lower interest rate, though over a longer term. Just make sure you are sensible with your credit cards and loans after consolidating!
2. Fix some or all of your loan rate
Fixing the interest rate on some or all of your loan will give you surety over repayment amount for the length of the fixed term. This can be a good option for those managing a strict budget but ensure you calculate the costs associated with doing this plus the higher interest rate you will probably pay at a fixed rate.
3. Reassess – is it time to refinance?
Your loan may offer features such as redraw that you don’t use. A loan with more flexibility, i.e. more features, is often more ‘expensive’. Consider changing to a basic product with no - or less - extras as it may have a cheaper interest rate. For example, on a loan of $250,000 over 30 years, the change from 9.23% ($2,053.13 per month - standard variable) to 8.64% ($1,947.14 - basic variable) is a saving of approximately $105.99 per month.
4. Make a lump sum payment and watch your loan shrink
Any spare money you can add to your loan, such as a tax return, bonus or inheritance, can often make a significant difference to the overall loan term and/or the repayment amount.
5. Refinance extra out of your loan to reduce it
Made extra repayments? You can refinance so your repayments reflect what you owe currently, not what you originally owed. For example, assume a standard variable loan (9.23%) has 20 years remaining and is scheduled to be at $230,000 (i.e. $2,053.13 per month). However, extra repayments have reduced the balance to $180,000, so refinancing the loan over the same 20-year period at $200,000 ($1829.19 per month) will reduce your minimum repayments by approximately $223.94 per month.
6. Lengthen your loan term
Depending on your property investment and mortgage strategies, you may want to consider increasing your loan term to 30 years (whilst uncommon, there are 40-year loans available). Yes, you will be paying it off over an increased amount of time but your repayment amount will decrease. Say a $250,000 loan at the standard variable rate of 9.23% has a loan term of 25 years ($2,137.57 per month) that is extended to a 30-year term ($2053.13 per month) – the repayments will decrease by $84.44 per month.
7. Most importantly, always factor in future rate rises
Any savvy borrower is already repaying their mortgage at a rate at least 0.25% higher than is required. This ensures a rate rise can be easily managed, and if rates don’t rise – or fall – you are ahead of the game and will see your loan term decrease.