Mortgage Broker Warwick

06/09/2022

Another increase...

03/05/2022

RBA announces .25% Increase to Interest Rates. The first increase in 11 years!

https://www.rba.gov.au/speeches/2022/sp-gov-2022-05-03.html

On a $200,000 mortgage repayments may increase by $42/month, if the Banks pass on the full increase.

If this is 'unexpected news' and you would like to discuss options, please call.

Good time to review the budget!

Speech delivered by Philip Lowe, Governor, Sydney – 3 May 2022,

28/04/2022

A first for me… new way of attending a training event…listening through headphones!

28/04/2022

Professional development - not always convenient but necessary.
Latest updates.

18/04/2021

LAND SIZE: When is big, TOO BIG? When the Bank is not interested.

Banks have an ideal land size.

If you are wanting to buy a larger block with a house on it. Call and see if you can secure finance, BEFORE you sign a contract.
Photo by Mzimasi Ndzombane

26/03/2021

Q. When is the best time to buy a home to live in??

A. When you are ready!

You do of course need savings/ or a deposit
You need a budget - better to know what you are spending and where NOW than later with a large financial commitment...

If you are unsure where to start, give Brad a call and have a chat - 0418 155 600.

17/03/2021

Choice ... of Lenders
Experience ... 22 plus years
Convenience ... 30+ Lender under 'one roof'

11/11/2020

What are the extra costs of buying a home?
Here is a list to consider.

When taking out a mortgage, many people forget to consider the associated fees and expenses. Here are some of the extra costs that you’ll need to consider when you take out a home loan.

01/11/2020

Difficult topic to discuss, but there are options.
Important to have protection.
Call to discuss - 0418 155 600

08/10/2020

We have definitely seen and increase in interest in moving to the Southern Downs Region.

2020 has seen a serious slowdown in city property markets, but some rural real estate agents say they're busier than ever. So, is this simply a result of the pandemic? Or a trend that's set to keep growing after COVID-19 is gone? The fact is, most of us have spent a lot more time indoors this yea

24/09/2020

PRE_APPROVAL
For those getting ready to stride into the world of home ownership, the uncertainties of pre-approval can cast a shadow of doubt over an otherwise exciting time.
When is it necessary?
How long does it last?
And what does it involve, exactly?

Pre-approval is a lender’s assessment of your likelihood of being approved for an otherwise suitable loan. The appraisal is made on the basis of your ability to service a loan by looking into your living expenses and liabilities, your credit history, your employment circumstances and how often you have moved home or employment in the recent past.
As it is performed prior to a property being found and chosen, it does not take into account the particulars of a specific property and valuation, which is why uncertainties can arise.
Pre-approval is helpful for those who want to know how much they can borrow before attending open homes, and can be reassuring for new borrowers.
“When someone gets pre-approval they can start looking at properties knowing how much they can borrow. They know what their price range is,” explains the finance broker. “People take comfort in knowing that a lender has looked at their application to make sure it meets policy.”
Pre-approvals are usually valid for up to 90 days but, depending on the lender, may be renewed to allow more time to find a property.
It is very important to note that a pre-approval is not a guaranteed loan. It is your potential lender’s way of signalling how much they expect to lend you. This may change on your official application.
“Policies are changing day-to-day, week-to-week at the moment,” the broker says. “For anybody with a conditional approval, it’s a good idea to speak to their broker to find out if any policies have changed.”
Another thing that may cause a lender to decline your loan application after pre-approval is a change to your pre-approval circumstances.
“We need to make sure the applicant has not gone and got another credit card or car lease, or any other debt that may affect their income and serviceability,” the broker says.
Your pre-approval will also usually be conditional on a property valuation. If your lender does not deem the property a marketable asset, they may not approve a loan.
“We want to check that it is a readily saleable property. That’s the biggest thing. To make sure the actual security itself is acceptable,” says the broker.
Potential lenders need to be wary of the changes that can affect their ability to take out a loan, regardless of pre-approval figures, to ensure they don’t overcommit without a guaranteed source of funding.

Pre-approval is not a guarantee, but is a very useful tool for anyone looking for a property.
Call Brad to discuss - 0418 155 600