Steve McRae
Kim McRae
Welcome to Mortgage Choice Bateau Bay
Talk to us about your needs either at our Bay Village office (near Gloria Jean's) or if necessary we can come to you either in the privacy of your own home or in your workplace. We are available during the day or in the evenings to sit down with you and listen to your plans and to help you find solutions to your mortgage needs. Did you know that we also do leasing and equipment finance and personal loans?
Are you in the market for a home and have been waiting for the right time to buy?
In many areas, the property market has plateaued or is in a slow growth phase, with many properties now at the same prices as in 2002.
Now may be a good time to pick up the pace with your property hunting to take advantage of some of the good buying opportunities, there are more properties to choose from, so you might get a better buy for your buck!
Pre Approval: You may already have a pre-approval, you may have let it lapse, or you may not have thought about getting one at all, however, having your finances in order before you go shopping can save you a lot of time and stress if you happen to find the right property.
If you are unfamiliar with the pre-approval process, you can be granted conditional approval from a lender for a loan up to a specific amount. This gives you the knowledge of how much you are able to afford and the confidence to look at properties knowing you can put in an offer when you find your dream home.
Perhaps you're thinking of re-financing With many borrowers increasingly knowledgeable about the availability and benefits of using household equity to gain further assets or for financial consolidation, refinancing continues to attract a larger following as a market option. With interest rates at historic lows now may the time to update your home loan and take advantage of those low rates
There are several reasons refinancing may be an attractive option. Perhaps you wish to consolidate some debts, buy an investment property, car or boat, take a holiday, undertake home improvements, buy shares, access funds for education, or simply look for a cheaper home loan product.
Despite the opportunities available through refinancing, there are many important factors to consider before deciding to refinance your current loan. Switching loans may incur significant costs such as exit or break fees, loan stamp duty, registration fees, mortgage insurance and account fees, so Mortgage Choice has developed six sensible steps for consumers to follow when they are considering refinancing:
Establish why you want to refinance
Confirm the following aspects of your existing loan: current interest rate you are paying and the type of rate (variable or fixed), on going fees on the loan account, what features you currently have available and are using eg. redraw, offset, lump sum reductions.
Determine the costs of refinancing, it may be cheaper to keep your existing loan, rather than pay application fees, loan stamp duty, mortgage insurance, registration fees, account fees, discharge or exist fees.
Decide what aspects of the loan are most important, do you want the cheapest loan no matter what? What features do you need as opposed to want.
Consider options from all types of lenders, the best option for the may be from a lender you are not familiar with.
how flexible will the product be if your plans or circumstances change?
We will help you sort through these questions and if you do decide to proceed to a re-finance we can access an extensive panel of Australia's leading lenders at one time and determine exactly how much you can borrow. Not all lenders are the same when it comes to borrowing power, it could mean the difference between a successful outcome or disappointment.
And Mortgage Choice does not charge customers for the service!
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Testimonials
"We found that using the services of Mortgage Choice Bateau Bay made the process of buying a home so much easier as it saved us from doing all the running around! It was also reassuring to know that we had a home loan expert helping us." Kylie Wade - Tascott
"We found the team at Mortgage Choice Bateau Bay to be friendly and approachable. They kept us well informed and they went out of their way to help us through the home loan process. We would highly recommend their services to our friends." Ben Peacock & Pamela Underwood - San Remo
"I thought that buying our first home would have been much more stressful but the team at Mortgage Choice Bateau Bay made sure that everything was done for us. They were so well organised that we weren't stressed at all!" T. Atkins & E. Stephensen - Wamberal
"The team at Mortgage Choice Bateau Bay were very supportive and respectfull of my decisions and concerns." Shayne Brown - Bateau Bay
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.