THE CHOICE IS SIMPLE - LET US DO ALL THE HARD WORK - Sean Willett

Sean Willett
Mob: 0437149326

Mortgage Choice
Tel: 02 9771 9451
Fax: 02 9772 1679

THE CHOICE IS SIMPLE - LET US DO ALL THE HARD WORK

Does this sound like you?

After years of renting you have at last made the decision to buy your first property. With the vast array of ever changing options available to you, where do you start? You turn to your partner for encouragement who looks more mystified & daunted than you by the whole home loan process. He too is confused by the myriad of choice and complex home loan jargon.

After work, you stay up late at night, surfing the internet. You research home loan choices, compare lenders, rates & features. You eagerly await the Reserve banks decision on interest rates every month & endlessly pour over newspapers to find the latest home loan deals. You take time off work to make appointments to talk with lenders as well as discussing your situation with well intentioned friends & family who only make you more confused and frustrated in the end. On weekends you visit open homes, go to auctions looking for your ideal property not understanding what the next steps are. Until at last - you find your dream property and can hardly contain your excitement as you know this is the one.... Or is it? It's a little more than you wanted to pay but you can afford it - can't you?

Sound familiar? There must be an easier way? There is!!!

Imagine if you could take all the worry and stress out of buying your property and instead you are able to sit back & enjoy this exciting time. In today's uncertain market, it's more important than ever before to make the right home loan choice. Our expertise is helping people through this financial maze, by finding the most appropriate loan to suit their individual needs and circumstances.

I enjoy running my own business and get a great level of personal satisfaction and pleasure when helping people reach their financial goals. Whether it's your 1st home or your 5th; buying a commercial property or simply looking to renovate or refinance I am passionate about giving them the best home loan advice to help people move forward.

We are paid by the lender, not by you. So best of all we do not charge you for our service. Most importantly we receive exactly the same payment whichever lender we choose for your home loan. So there's no financial incentive for us to recommend one lender over another. We truly have your interests at heart.

We'd love to help you, even with the simplest of questions or enquiries. We are fully mobile and are happy to meet you at your home, your office or whatever you choose and at time that is most suited to you. Call us today on 02 9771 9451 or 0437 149326.

10 steps to finding the most suitable home loan

If choosing the most suitable property is the ‘biggest’ decision a potential property owner will make, choosing the most suitable lending institution and home loan can also be a daunting process.

Here are 10 steps that you should follow when looking for a loan:

1. Supporting documentation

In the majority of cases, lenders will require evidence of income (normally a letter from your employer), demonstration of a genuine savings pattern and - depending on the type of loan - other documentation to verify particular details of the loan application.

2. Borrowing capacity

The amount you can borrow (against your property) will vary between lenders. Visit our calculator to know how much you can borrow.

3. Additional repayments

Bulk payments and regular extra contributions will reduce the term of the loan and save you money in reduced interest. Some lenders charge penalties for making additional repayments on top of the minimum required amount, so be aware of this.

4. Ability to ‘split’ loans

Structuring your home loan on a split basis enables you to take part of the loan at a fixed interest rate and therefore eliminate some of the risk in a rising interest rate environment.

5. Redraw facilities

Ideally, you want a lender that will allow you to redraw any excess payments (as long as you are not in default). The amount of times you can redraw without incurring penalties varies between lenders.

6. All-in-one versus offset accounts

An offset account is one that has your savings account linked to your mortgage in such a way that the interest earned on your savings is applied to reduce the interest on your mortgage. On the other hand if you have well-organised finances, you can maximise your opportunity to reduce the principal, by having your salary paid into your loan account.

7. Line of credit

This is an agreed flexible loan arrangement with your lender with a specified maximum. It operates on a similar basis to a credit card but is linked to your housing loan. This facility can be used at your discretion for a variety of purposes.

8. Switching

Read the fine print of your contract to find out if you can swap loan products to take advantage of any new deals, and check for costs involved.

9. Portability

If you sell before the mortgage is completely paid off, it will be more economical if you can transfer the loan to your new property.

10. Mortgage insurance

Lender’s mortgage insurance is there to protect the lender and is not able to be negotiated. General mortgage protection insurance for yourself is not compulsory, and you will have to decide if you feel you need it or not.

Contact your Mortgage Choice broker to help you to find the home loan that suits your needs.

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