How your mortgage broker can help you get an investment property
Whether you are taking your first steps into property investment or you already have a substantial portfolio, you can always benefit from expert advice as well as any assistance in streamlining the process.
Building a strong relationship with a mortgage broker is a cost-effective investment, as your broker can provide you with expert advice and assistance, helping you maximise your investment return with no additional outlay as the broker is paid by commission.
Understanding your goals
When you embark on property investment, you will have set yourself some specific financial goals. Perhaps you want a long-term investment property that could later become a holiday home for your family; or maybe you want a fast turn-around, by purchasing a cheap property, renovating and reselling.
Your mortgage broker needs to understand what you intend to achieve, as this has a direct impact on deciding the right loan for your circumstances. With the wrong loan, you could be paying too much interest and cutting into the profits you intended to make from the investment.
Mediating with lenders
There are countless loans available, each with their own features and benefits. Your mortgage broker’s role is to sift through all the relevant options and present you with a selection of loans from a panel of banks and smaller lenders, that are right for your circumstances. While the broker is looking for a loan that will appeal to you, they are simultaneously trying to match you with lenders who will see you as a good risk.
This process ensures that you are more likely to be approved for a loan based on terms that are favourable for your circumstances. A mortgage broker may also have access to special offers that are not available to the general public.
Submitting the application
Once you have chosen a loan, the mortgage broker can help you complete all the paperwork in relation to your application. Once the application has been submitted, the broker liaises with the lender to ensure your loan is approved and keep you updated on the process.
Your broker will handle all the paperwork on your behalf and explain all the aspects of the loan clearly and concisely, so you understand your financial obligations. The broker will also take responsibility for meeting all deadlines and additional lender requirements, so the loan process is faster and more efficient.
Your mortgage broker’s expert assistance can help you boost the value of your investment by saving you both time and money. Talk to our lending specialists today about your property investment goals.