Why choose a mortgage broker for my home loan?
Mortgage brokers are experts who will help you find the right finance for your home purchase. Working closely with a wide panel of lenders, they ensure borrowers find the right deal to meet their requirements. A mortgage broker can also help you refinance your current mortgage if you want to make renovations, consolidate your debts or find a lower interest rate.
With over 37 years in the industry, you can be sure your home loan broker from our Launceston or Hobart office will always act in your best interest.
First home buyers. How much deposit will I need to get into my first home?
Probably the most common question we are asked and not an easy one to answer. It isn’t just the size of your deposit, but you will also need to consider:
- your borrowing power (in simple terms, your income less your current financial commitments)
- your credit rating
- other expenses such as stamp duty
There are currently a range of State and Federal Government grants available to assist you get into your home sooner. Check out the current grants available and then talk to one of our mortgage brokers to find out if you qualify.
Can you help with a parental guarantee?
Absolutely. Getting into your first home has never been harder. Our home loan experts can help you with a number of options to get into your first home sooner, with the help of the ‘bank of mum and dad’. Parents can assist you get into your home sooner by:
- providing cash towards your deposit which may reduce your requirement to pay lenders mortgage insurance
- using the equity in their home, holiday home or investment property to provide additional security
Read more in our blog ‘Get into your First Home Sooner with a Parental Guarantee’
Do mortgage brokers assist with reverse mortgage applications?
Yes, we have mortgage brokers in our Launceston and Hobart offices who can assist with a reverse mortgage loan. A reverse mortgage is a loan that lets you convert some of the equity in your home into cash while you still live in it. Our qualified mortgage brokers will be able to assess your situation and assist you with the reverse mortgage application process.
Want to know more about reverse mortgages? Check out our blog here.
Should I do a regular review of my existing home loan with a mortgage broker?
We recommend that you complete a review of your loan every 18 – 36 months. Your home is your most valuable asset, so you want to be sure that your home loan is working hard for you.
To find out more about the advantages of regularly reviewing your home loan, check out our ‘7 tips to save your money on your home loan’
Can a finance broker help me with an asset purchase or other business finance?
Our expert finance brokers can help with all types of business finance. This includes:
- Complex commercial property purchases
- Asset finance including plant and equipment finance
- Chattel Mortgages (secured car loan)
- New and used equipment finance
Can I make an appointment outside of business hours?
Of course, our teams in Launceston and Hobart are flexible. If we can’t get together in person, we can always catch up via a zoom session.
Can I use the equity in my home to assist with debt consolidation?
With the rise in real estate prices over the last few years, Tasmanians have the opportunity to refinance their home loans. Some of the more popular reasons for refinancing include:
- debt consolidation including paying out credit cards
- renovations – time for a new kitchen or bathroom?
- purchasing a new car – an alternative solution to a car loan
- helping children get into their first home
To find out more about using the equity in your home loan, read our blog ‘Refinancing to make the most from the equity in your home‘
More questions?
We’re here to help! We’re a friendly bunch at Finance Brokers Tasmania, and we love chatting to clients – potential, new, and existing. We’d love to help you – so please contact us today for your tailored finance solution!