December 10, 2015
A home loan can be an outstanding financial tool but Andrew Heath of Mortgage Choice Richmond says it pays to find the loan that is right for your needs.
Chances are, you have a long term relationship with a particular financial institution, and it can seem like the easy solution to approach your regular bank when you’re in the market for a home loan. The trouble is, it could be a step that leaves you shortchanged.
You see, the bank, building society or credit union you do your everyday banking with might offer a terrific transaction account or cut-price car loan. But that doesn’t mean their suite of home loan products is well-suited to your circumstances.
It pays to shop around for a Richmond home loan. With so many home loans available in Richmond it certainly pays to shop around. Sticking to your main bank could mean missing out on a more competitive deal, or bypassing loan features that better fit your lifestyle.
I always point out to my Richmond home loan customers that their regular bank can only offer their best rate. In a competitive mortgage market another lender could potentially offer a ‘cheaper’ product.
As your mortgage broker in Richmond I have in-depth understanding of what’s available in the Richmond home loan market – from the big banks through to specialist home loan lenders that are only available through mortgage brokers. It means you enjoy the benefit of choice.
Look beyond the rate So what should you be looking for in your Richmond home loan?
First up, it’s not all about the interest rate. A loan’s features, flexibility and any associated fees will have an impact on how much you pay overall – and how long it will take to repay your Richmond home loan.
It can be easy to be lured in by a loan with all the bells and whistles, but a sensible rule of thumb is to only pay for what you will need and use. You wouldn’t buy a 6-bedroom home if you only need three bedrooms, and the same principle applies to your home loan.
Seek expert advice Narrowing down the choice of loan features that should be included in your loan, and hunting for the Richmond mortgage that’s right for your needs can be a time consuming task. That’s why it pays to partner with a Richmond home loan expert.
Discover how expert advice can make your home loan experience easier and more rewarding. Call me, Andrew Heath, at Mortgage Choice Richmond on 02 4578 9904 or call in and see us at Shop 1/37 Lennox Street Richmond, NSW.