This is where the benefits of using a finance broker on the Gold Coast become crystal clear. Unlike banks, finance brokers are regulated by legislation known as ‘Best Interests Duty’. Basically, this places a legal requirement on finance brokers to always act in the best interests of their customers. So, when you meet with Gold Coast finance brokers, you can trust that the advice they’re offering is impartial and tailored to suit your needs.
How can Finance Brokers on the Gold Coast help first home buyers?
Buying your first home can seem a little daunting. There’s so much to consider, and there seems to be so much conflicting advice. What government grants are you eligible for? Is Lender’s Mortgage Insurance a good thing or a bad thing? Will you need a guarantor for your mortgage? And (perhaps most confusingly), do you really need a 20% deposit before you can apply for a home loan? An experienced finance broker can help you navigate your way through the entire process, ensuring you get the right loan to suit your needs.
How can Finance Brokers on the Gold Coast help homeowners refinance?
According to the Reserve Bank of Australia, the average Aussie mortgage-holder will pay an extra $37,000 over the life of their loan because of “loyalty tax”. What’s “loyalty tax”? It’s an expression that’s used to describe the extra interest homeowners get charged when they stay too long with the same lender. Fortunately, there is a way to avoid the home loan “loyalty tax” – ask a finance broker for a mortgage health check. Regular assessments of your home loan will help ensure your interest rate is still competitive and that your loan structure still meets your needs. If it is, that’s great! But if not, they can help you refinance your home loan to get a better deal.
How can Finance Brokers on the Gold Coast help home upgraders?
A home upgrade is a completely different experience from buying a first home. Now that you already own a property, you have more options available to you – the key is deciding which one will work the best for you. A finance broker can help you to determine the ideal way to achieve your home upgrade. This could include refinancing to access equity or getting a renovation loan to finance some much-needed home improvement works. Or it could involve applying for a bridging loan so you can buy your new home before you have to sell your current home.
How can Gold Coast Finance Brokers help business owners?
Business finance can be notoriously difficult to obtain, with most lenders applying strict borrowing criteria. However, a business loan could be the ideal solution for small business owners who are looking to take their company to the next level. A finance broker can start by helping you ascertain what kind of business finance solution will be most suitable for your business needs. They can then compare a range of loan products from different lenders to ensure you’re getting a competitive deal that will support your future business goals. A finance broker can also identify which lenders are most likely to review your application favourably (something that will significantly increase your chances of gaining approval).
How can Finance Brokers on the Gold Coast help investors?
Based on the latest data from the Australian Taxation Office (ATO), around 20% of Aussie households now have an investment property. And interestingly, there’s a growing number of younger property investors, with just over 40% now in the ‘under 50’ age bracket. First-time property investors are often unsure about their finance options and unfamiliar with the lending criteria applied to investment property purchases. A skilled finance broker can help you to evaluate all the options that you have available. They can provide guidance on which lenders are most supportive of investors and answer any questions that you may have about accessing equity to fund an investment property purchase.
How can Finance Brokers on the Gold Coast help with car/equipment finance?
Many Aussies don’t realise that finance brokers can also assist with car and equipment loans. And while a car dealership may offer you a loan through their “preferred finance lender”, this comes with no guarantee that you’re getting a good deal. In contrast, a finance broker will compare suitable car loans from a wide range of lenders, ensuring you get the loan features you want as well as a competitive interest rate. Applying for a car or equipment loan through a finance broker is the simplest way to save yourself time and money (not to mention stress!) when buying a vehicle.
How can Finance Brokers Gold Coast help self-employed borrowers?
If you’re self-employed, then you might worry about your eligibility for a home loan. Fortunately, things are a lot easier than they used to be…if you know who to ask. A finance broker will know which lenders are most likely to view self-employed borrowers in a positive light (and also which lenders to steer clear of). A broker can make sure your application includes all the necessary details, including any applicable add-backs, which could play an important role in determining your borrowing capacity. With a skilled finance broker in your corner, you can have confidence when applying for a home loan as a self-employed borrower.