Tips from a mortgage broker
Here are three tips for entering the housing market, from Astute Hendra mortgage broker, Jack Wall. If you would like to get in contact with Jack, his bio and contact details are at the end of this blog.
With that, here are Jack’s three tips:
- Get in touch with your finance broker. By reaching out to your broker as a first step, you will be well aware of the finance options that are available to you. You might have discussions around whether you want to buy an owner occupied property or an investment. Or what price range you are considering or approximate repayments to help with your budgeting. These initial discussions are important as it can help you clearly define your goal and set you on the right path. We encourage all of our clients to reach out at this initial stage as it is never too early to begin the discussion.
- Organise a Pre-Approval. The primary advantage of having a pre-approval in place is that you will have an accurate indication of what you are able to borrow. Pre approvals are typically valid for 6 months however there is no pressure to secure a property during this period. Whilst a pre-approval isn’t a guarantee of final approval, it provides with you with an indication of your borrowing capacity which assists you during the sale negotiation process. Best of all a pre-approval comes at no cost so it makes sense to have this option in place.
- Staying patient for a property that ticks your boxes. Having a good idea of value in the market you are considering is also important. Keeping up to date with recent property sales is a great way to do this. Attending auctions and open homes can also provide you with an indication of current market activity in the areas that you’re interested in. Staying patient and keeping your end goal in sight is important.
Having taken the initial steps to speak with your broker and organise your pre-approval ensures that you comfortable with the entire process and are in the best position possible to take advantage of an opportunity when it does come along.
Who is Jack Wall?
He acts as an independent resource for clients aiming to identify not only the most competitive finance options but also providing a great service to simplify the entire finance process.
Jack is based out of Astute Hendra – a family owned finance business that has been in operation since 2006. He holds a bachelor degree in both Commerce & Business Management, as well as his Cert IV in Finance and Mortgage Broking.
He acknowledges the importance of having full knowledge of the options available when you are looking to borrow money. Not only does this allow his clients to secure a competitive interest rate, but also assists in identifying the most suitable place for your application which is critical to a successful outcome with lenders constantly changing their policies.
If you are thinking of buying or would like your existing lending reviewed or even just have questions regarding finance options available, then please don’t hesitate to get in touch as he is more than happy to assist!
0413 876 469