There are a wide range of mortgage products out there and it can be dufficult and confusing to try and compare them all. A Mortgage Broker is an expert in Mortgage products and we will help you navigate through the options by explaining the differences between products and help you choose a loan that suits your specific needs. Once a product is slected, a Mortgage Broker will make sure things happen on time and the borrower is fully informed throughtout the process, ensuring there are no missteps.
We are dedicated to making our customers happy. Word of mouth is how we get most of our business and that depends of the customer being happy with our services. We leverage our extensive knowledge of the mortage, and finance markets, generally to find the deal that suits your needs.
If your are not sure, check out our testimonial page to read what others thinks of our services.
Yes! It is easy to get caught up in the excitement of making one of the largest purchases of your life! As a buyer, it is vital to understand there are additional costs that come with purchasing a property. The added costs depend on the value of the property being purchased and where it is located.
Additional costs that may need to be considered:
– Stamp Duty
– Loan Application Fees
– Lender’s Mortgage Insurance (LMI)
– Ongoing Loan Fees
– Lender’s Property Valuation
– Mortgage Registration Fees
– Conveyancing and Legal Fees
– Building/ Pest Inspection
– Insurance
– Moving Costs
These additional costs may affect the money you have available to meet your mortgage repayments and may impact how much you can afford to pay for the property.
Variable Loan: Your interest rate will vary over time as market conditions change. When interest rates rise, your rate and monthly repayments will rise along with them. The advantage of a Variable loan is that you can make earlier repayments or pay off your loan sooner without paying fees. A redraw facility is available on many loans which allows you to access any of the extra repayments you made if needed. However, depending on your preferred bank, this feature of redraw facilities may be an additional expense per month.
Fixed Loan: The initial interest rate you secure will not change. When you sign your loan agreement, you’ll lock in your rate, which won’t change on market fluctuations and your monthly repayments will remain constant. A fixed loan however can only be for 1-5 years, after which will change to the variable rate when your term has expired. Keep in mind, that fixed rate agreement terms are usually less flexible than a variable loan and may incur additional fees should you wish to change terms or exit the loan early.
If you are looking to borrow money from the bank, there are several factors that can affect your
borrowing power. These may include your income, spending habits, living expenses, credit
score, assets, existing debts, and deposit.
Feel free to use one of our free calculators (Coming Soon) or speak to one of our friendly MortgageBuzz
experts to determine how much you can borrow!
Many people make the mistake of thinking that their current bank will give them the best deal. The role of a mortgage broker is to do all the research for you. They can look in to a wide variety of products across multiple lenders to ensure you are getting the best deal. At Mortgage Buzz, our goal is to always ensure the product is the best one for our customer.
Pre-approval is simply a way of assessing your financial circumstances to give you an idea of the maximum amount you can borrow. Going through pre-approval shows that you’re serious and also means you can be comfortable knowing that the lender is more likely to approve your loan.
