August 21, 2024 by Derek McLeod
If you’ve been waiting for the right time to review your home loan or even make some home finance plans happen, then you’re not alone. Ups and downs in the property market, rising interest rates and an increasing cost of living have caused a lot of stress for homeowners. So, with interest rates steady for now and lenders more willing to compete for your business, now could be great time to renew your home finance goals and make a move. Whether you want a better deal on your current mortgage or have bigger plans in mind – I can help!
Find out if you could save money and make your property goals happen.
Existing homeowners
With the RBA holding on the official cash rate again this month, lenders are taking note. While home loan interest rates aren’t dropping notably yet, there’s a growing space for negotiation and competition is increasing between lenders. If you’re a homeowner and haven’t reviewed your home loan rate recently, there are some great options available and even more expected to come.
Those looking to purchase property
In the real estate market, better conditions are anticipated for this Spring, with an increasing number of property listings and a feeling of renewed confidence that we haven’t experienced for a while. For those looking to purchase a first or next property, or for those looking to invest, it will make a lot of sense to get prepared early so that you’re ready to jump on the perfect property when it comes up.
Here's how I can assist and put you in the best position heading towards the end of 2024:
‘Spring cleaning’ your home loan to get onto the right loan for your needs
If you haven’t reviewed your home loan interest rate recently, I can review your current interest rate and home loan product through just a short conversation, to determine if there’s a better loan option available.
The competition between lenders is heating up along with the weather (hopefully), and as the RBA seems to be holding steady with the official cash rate, many lenders are taking it upon themselves to create a bit of borrower interest to attract new business.
By reviewing your home loan, we can find out if negotiating with your current lender or considering the offer of another lender will end up being the right strategy for your needs, goals and budget. If there’s a better option with another lender available and your current lender can’t match it, then I’ll do all the legwork to help you with the refinancing process.
Ensuring you’re on the right home loan rate could save you hundreds of dollars or more each month and could help you pay off your mortgage a lot faster.
Helping first home buyers get the right loan for a great start on the property ladder.
With an expected increase in the number of properties on the market, there could be a fantastic opportunity for first home buyers to get onto the property ladder this Spring.
While lender policies can be challenging, I have access to hundreds of products from over 35 banks and lenders. My experience in home finance and lending will give you the advantage to secure the right home loan and finance structure for your first property purchase.
If it’s appropriate, I can also help you to secure loan pre-approval, so that you can know exactly what your budget is. Pre-approval also gives you better negotiating power since your finance for a property purchase is more certain and both sellers and real estate agents will take you more seriously as a buyer.
There are other options available to help you secure finance for your first property, which we can discuss in detail. Options like using a guarantor and taking advantage of government schemes like the updated Home Guarantee Scheme and stamp duty concessions are all viable ways for first homebuyers to be able to purchase a home faster.
There are so many ways to approach a home loan application, and I’ll help you figure out what’s the best bet in your situation. As always, there’s no charge for my home loan service, which includes applications for any government schemes.
Upgrading to your next home before the Christmas holidays.
If you’re interested in upgrading to a new property because your current home, location, or something else doesn’t fit your needs any longer, then there are plenty of ways we can approach the purchase of your next home and either selling or keeping your existing property.
Depending on your equity, savings, investment appetite and other factors, we can assess what will the right strategy for you. I’m an expert in all scenarios of buying and selling properties, utilising equity, bridging finance, investment loans and other approaches that can work in moving to your next home, so let’s have a no-obligation chat to determine what your situation could be.
Looking for an investment property this Spring?
With any smart investment, success is all about finding and following the right strategy. I have access to a wide range of lending options that are specific to investors to help you grow your property portfolio affordably, with the goal of building future wealth.
Accessing a wide choice of investment-friendly lenders and knowing the assessment criteria required by each lender, allows me to determine the right approach to suit your circumstances.
I also have extensive experience in property investment myself, so combining that experience with a knowledge of what the lenders require can be invaluable to your successful investment strategy to purchase in the next few months.
Let’s talk about your Spring property goals and make them happen.
At Mortgage Choice Carindale, my experience in Brisbane’s property market has helped hundreds of clients purchase their first home, next home, refinance and invest in property over the years. This Spring could be the perfect time to take advantage of the changing lending and market conditions that experts are hoping to see and lenders will put on offer.
Contact me to discuss how you can prepare to achieve your property purchasing or investment goals. Call 07 3398 8044 or click ‘Book an appointment’ here or on our Homepage to book an appointment online.
