Why use a Mortgage Professional to help you Purchase your next Investment Property?
30 September 2015 M'OR Mortgage Options
So, you're looking for finance to purchase an investment property. Why would you see a mortgage professional (or broker) instead of just going directly to the bank?
There are actually lots of reasons! A mortgage professional can provide significant benefit to you as a property investor. Especially if you happen to come across a good one who specialises in investment finance! (hint hint)
Here’s just some of the reasons why you should have a professional on your side when buying your next investment property.
There are lots of things you might not know about investment loan structures- things the bank doesn't always tell you. It's your mortgage professional's job to share this 'insider information' with you, so that you can grow your portfolio the way you want and maximise returns along the way. For a start, you want someone who has a proven track record assisting property investors, as it's a specialised area of expertise. You want someone who understands the property market, understands residential property and understands the strategies you can use to manage (and/ or) grow your portfolio.
Tailored solution to match your needs
One lender might be really good at tailoring loans to first home buyers, while another might be really good at investment loans. If you don’t know what other lenders are offering, how do you know that the loan you’re considering is actually the right one for you? Mortgage professionals have access to lots of different lenders and lots of different loan products. They are constantly comparing what each has to offer, so they can find the right solution for you. With the recent changes to investment lending, there’s never been greater disparity between what individual lenders are offering. Knowing what options are available and which lender to turn to, could mean the difference between acquiring another investment property and missing out. For some, it may even mean be the difference between having to sell a property, or holding onto it. All that was needed was a tweak of your loan structure to make the cash flow side more manageable.
Good loan structure, competitive interest rates
Lenders don’t always help you to secure the most suitable loan structure. Sometimes it’s because the person assisting you lacks knowledge, sometimes it’s because the lender is looking after their bottom line. Either way, your loan structure should be set up to suit your long term plans and help you to maximise the benefits of owning investment property. But, it shouldn't come at a higher price. A good mortgage professional can assist clients negotiate good rates on their loans - they can do the same for you.
Bank staff are really good at ‘bank speak’ but not always good at translating it into everyday language. Buying an investment property can be overwhelming, particularly if it’s your very first purchase. It's a mortgage professional's job to ensure that you understand what's happening every step of the process. They'll explain things in a way you can understand and answer questions you have along the way. They'll also handle everything for you - liaise with your solicitor, real estate agent and perhaps even your accountant - to ensure everything runs as smooth as possible.
Honesty and integrity
It's something many businesses claim to have, yet it's not always evident in their day-to-day dealings with you. You want a mortgage professional that is committed to looking after you and your loans over the long term. You want someone who will stand by their recommendations and can help you achieve your long term investment plans.
MO’R MORTGAGE OPTIONS is a family team of experienced Mortgage Professionals committed to efficiently delivering an outcome that tailored to you. And we love it!
Since 2000, we've assisted thousands of clients arrange loans that help them to save money, as well as achieve their longer term plans.
Whether you're purchasing your first home, building an investment property portfolio, planning an upgrade, or want to save on your existing mortgage, we can help.
Just contact our team today.