Why do so many property investors use a home loan broker? Read further.
Recently, the Property Investment Professionals of Australia (PIPA) surveyed 800 property investors in conjunction with the magazine Smart Property Investment. More than 70% said that they use the services of a home loan broker. In sister magazine The Advisor, Ben Kingsley, who is the Chair of PIPA, shared a broker’s view of why so many property investors use mortgage brokers.
Many officers in banks or other lending institutions don’t have the time to “go the extra mile” for customers due to heavy workloads and limited selection of credit products. Mortgage brokers, on the other hand, have plenty of time and specialise in finding a custom solution for each individual based on their financial situation, goals and ability to meet mortgage repayments.
Brokers Provide More Access
A home loan broker has access to a lot more credit products than any single lender, because they use multiple lenders. This gives us the flexibility to find a loan that is tailored to your situation. We also help you with your paperwork because we know that it may be the difference between obtaining the right loan and being turned down.
Basically, you fill out your paperwork once and we send it to the lenders we deem appropriate, saving you a lot of running around.
At Approved Financial Planners, we offer a full range of financial planning services and insurance protection, as well as home loans, in the Perth area. It is much more efficient for you to have all of these services under one roof. It ensures that you don’t ever run into a situation where one aspect of your financial plan is working against another, because the “left hand” always knows what the “right hand” is doing.
When an investor works with a home loan broker on a regular basis, the broker becomes more adept at tailoring the credit product around the investor’s purchase and investment strategy. As the investor grows, his or her needs change. A mortgage broker is right there to adjust credit products as the investor grows.
Before you purchase your next investment property, call Approved Financial Planners and talk to a home loan broker: (08) 6462 0888.