All Topics / General Property / Mortgage Broker

Viewing 5 posts - 1 through 5 (of 5 total)
  • Profile photo of kermitkermit
    Member
    @kermit
    Join Date: 2005
    Post Count: 8
    July 22, 2005 - 2:49 am

    Hi all, I’m new to this so I’m not sure if its a stupid question but people seem to advise meeting a mortgage broker. Now if I already know what kind of mortgage I want and have done some research should I still go see one? For example if I was planning to buy a house, renovate then sell it within a year, I would choose a home loan with a fixed low rate for the first year.

    Am I missing some thing?

    thanks
    james

    Profile photo of Alistair PerryAlistair Perry
    Participant
    @aperry
    Join Date: 2004
    Post Count: 891
    July 22, 2005 - 3:40 am

    Hi James,

    You’ve just proved that you do need a mortgage broker. If you fix a rate for one year you will be paying above the standard variable rate, and if you sell before the end of the period for which you have fixed it you will also incur breaking costs.

    Why bother doing your own research is this field when a mortgage broker costs you nothing, will do it for you and will probably get you a better loan anyway.

    Regards
    Alistair

    Profile photo of Mortgage HunterMortgage Hunter
    Participant
    @mortgage-hunter
    Join Date: 2003
    Post Count: 3,781
    July 22, 2005 - 3:49 am

    A good broker will bring heaps of experience to the table for no additional cost.

    Even if you end up with the same product you will have had their opinion to confirm your research. Surely this is worth a $0 fee?

    Lastly, I am all for directing some of the banks profits to small businesses [biggrin]

    What have you got to lose except for an hour of time?

    Cheers,

    Simon Macks
    Residential and Commercial Finance Broker
    [email protected]
    0425 228 985

    Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.

    Profile photo of Mobile MortgageMobile Mortgage
    Member
    @mobile-mortgage
    Join Date: 2003
    Post Count: 913
    July 22, 2005 - 9:15 am

    Hi James
    I would suggest you use the services of a good independent Mortgage Broker, make sure you divulge your current plans to sell in a short space of time, this will enable him or her to source the correct finance with minimal or zero break costs, cheers.

    Regards
    Steven
    Mortgage Broker

    Mobile Mortgage Market
    Ph: 0402 483 216
    [email protected]
    http://www.mobilemortgagemarket.com.au

    PLEASE note comments made should not be taken as specific taxation, financial, legal or investment advice.

    Profile photo of Robbie BRobbie B
    Member
    @robbie-b
    Join Date: 2004
    Post Count: 2,493
    July 23, 2005 - 12:10 pm

    These days, a broker will even pay you for your business. What else do they have to do to get your business – make your loan repayments for you????

    SEE A BROKER!

    TMA

    http://www.email4money.info
    Investor Links
    First Home Buyer Website

Viewing 5 posts - 1 through 5 (of 5 total)

You must be logged in to reply to this topic. If you don't have an account, you can register here.