I am looking to consolidate my 2 existing loans into 1 easy and manageable loan with 1 payment a month rather than 2 at different times (which always manages to cause stress with funds, rental income dates etc).
A few issues to consider…
I am a little concerned with exit fees from my existing lenders. I am wondering if it will be worth it in the long run if they hit me up with a huge exit fee?
I feel I should probably speak to a broker and find out what my options are. Would anyone recommend using Aussie home loans or mortgage choice or companies similar to them? I have used an independent broker in the past but would like to shop around now.
I just want quick and honest advice. I want a loan that offers redraw, an offset account and no ongoing fees …of course a competitve interest rate as well.
Should I shop around myself or should I speak to a broker? Advice please!
You may be lucky to find a good broker at some of the larger firms. I wouldn't go by a company name as they just employ workers and a good broker may or may not work for one of the larger companies (more likely not).
I could recommend Stuart Wemyss from Pro Solutions. He is based in Melbourne and his advice that he has given me has always been in my best interests, not his own.
I am a mortgage broker and I also invest. Please give me a call and discuss your situation. We might get a good solution for you. 0410486289 [email protected]
Hi Hanging
Just be careful with the sausage factory franchises as the owners and the sales staff come and go like the wind.
You are better off with an independant broker who can give you an overall view of your options.Before you consolidate both of your loans in one make sure they are both non tax deductible or both deductible as the last thing you want to do is mix up good and bad debt in one.
Also make sure your broker choices a loan that can grow with you as you expand your investment and not something that is too rigid and has little or no options or features.
Richard Taylor | Australia's leading private lender
Hi Hanging
Just be careful with the sausage factory franchises as the owners and the sales staff come and go like the wind.
You are better off with an independant broker who can give you an overall view of your options.Before you consolidate both of your loans in one make sure they are both non tax deductible or both deductible as the last thing you want to do is mix up good and bad debt in one.
Also make sure your broker choices a loan that can grow with you as you expand your investment and not something that is too rigid and has little or no options or features.
Richard Taylor | Australia's leading private lender
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