Dobbrick Financial Services Blog

Latest News and Information

Dobbrick Financial Services Lending Services Personal and Business Loans Gympie and Ipswich


by Dobbrick Financial Services on February 23, 2017 No comments

1. Shop your home loan first

So you have found the house you love, your dream home or an investment that you think will kick-start your property portfolio, but what if you cannot afford to pay the mortgage repayments?  You do not want to be disappointed if you receive the rejection letter from the bank! Shop for your home loan first, before you make a commitment to buying a house. Mortgage brokers can assess your situation, help you to create a realistic budget, and give you a price range to stick to when buying your property of choice.

2. Look beyond the top 4

Currently, there are hundreds of lenders in the market, so much so it can be overwhelming to find a lender that you can trust. The advantage in using a Mortgage Broker is they can peruse the different products, steer the approval process and find the best deal to suit your circumstances.

Don’t be fooled, beware of the big lenders who are offering tricks and honeymoon gifts, the cheapest deal is not always the best. Choosing the loan that has features to suit your individual needs is what is important. You need to think long-term and you want to make sure the loan is working for your circumstances.

3.  Stability and Mortgage Insurance

Demonstrating to the lender that you can live within your means and you have a stable income will certainly be in your favour. If you are buying your first home, you will want to show that your bank accounts are in order, your credit check is healthy and you saved a deposit.

The more deposit you have, the less you have to borrow – the more equity you have in the property, the less chance you will have to pay Mortgage Insurance. Mortgage insurance can generally be avoided if you can provide a 20% deposit of the property value.

4.  Stay informed and plan for the future

A great lender should not stop at the offer of a home loan; they should be helping you secure financial stability for the future. By using a mortgage broker, you are hiring a personal concierge that will be with you, should you need help, through the life of the product. Speak to your broker about home loan packages that include things like line of credit, offset accounts, insurance products or professional packages.

Further to that, Dobbrick Financial Services can offer Financial Planning services as now is the time to think about things like life insurance, income protection and trauma insurance for further security of your future

5. Read the fine print and meet with a Dobbrick Financial Services Broker

A Mortgage Broker can be your eyes and ears when it comes to the fine print and although reading the fine print may seem inane, it really is where you need to focus your attention. Questions that need to be asked should be:

  • What interest rate am I being charged?
  • What ongoing fees will I have?
  • Can I make additional home loan repayments?
  • What fees are charged for exiting early or breaking my terms?
  • Is my credit provider licensed?
  • Can I stay on top of the terms and conditions of my loan?
  • Can I make additional home loan repayments?

If you are thinking of purchasing a home or business, refinancing your current loan or seeking information for first home buyers, contact the team at Dobbrick Financial Services.

Dan Robertson, Dobbrick Financial Services Gympie specialises in lending and finance and provides personal advice for home loans, asset finance and commercial lending.

The information provided is general in nature and does not take into account your particular investment objectives, financial situation or insurance needs; we therefore recommend you seek advice tailored to your individual circumstances before making any specific decisions.  Dobbrick Financial Services and its advisers are Authorised Representatives of Fortnum Private Wealth Pty Ltd ABN 54 139 889 535 AFSL 357306 Australia Credit Licence No 357306 trading as Fortnum Financial Advisers.

Dobbrick Financial Services5 TOP TIPS TO GETTING THE BEST LOAN

Related Posts

Take a look at these posts