03 May Investing in properties?
Why the right mortgage broker matters
Property investment is a large part of the Australian real estate industry, with many individuals choosing to invest into future growth and make the most of tax incentives offered to property investors.
As with any financial decision, choosing an investment property can have a huge impact on your financial situation and future. Not only is the choice of property an integral element to consider, but it’s also crucial to secure a loan that will work in your favour when it comes to achieving your financial goals and targets through your investment property purchase.
When looking to purchase an investment property, it’s important to have a full understanding of the financial implications. If you’ve already got an existing home loan for your primary residence, this existing loan will be taken into account when it comes to a lender evaluating your overall borrowing capacity. Lenders will also evaluate your income, household debt levels, loan to value ratio, the property in consideration, and factors such as your household demographic makeup.
By working with a mortgage broker throughout the process of securing an investment property, you’ll be able to navigate the ins and outs of the additional mortgage process with peace of mind, and full insight into the options available to you as an investor. The right mortgage broker has the capacity to save you significant amount of money over the course of your investment loan, based on interest rates and the fine print of your mortgage terms and conditions. You’d be surprised by how many questions you didn’t know you needed to have answers for when it comes to securing a loan, and the process is made much simpler by working with an experience broker who can help you navigate and equip you with the tools you need for success.
Not everyone looking to invest in property has the same requirements, and a seasoned finance broker will be equipped with the tools and insight you need to ensure you’re moving forward with a competitive loan for your personal situation. A great mortgage broker will be ‘on your team’, working with you to evaluate the market and advising you with wise financial counsel. They’ll have an understanding of your overall financial goals and how each loan can impact upon these desired outcomes and will be able to use their relationship with different lenders to make sure you’ve fully investigated the options available to you before signing on the dotted line. Your mortgage broker should be someone you can trust, as they’re an integral part of this sizeable financial decision, so make sure you’re working with someone whose integrity can be proven in their customer testimonials.
Aspirus Financial Services have a wide range of industry experience, spanning home loans, investment loans, business finance, debt consolidation and more. If you’re considering a move into the investment market, our team of experts can provide you with the insight and clarity you need to move forward decisively.