Bad time to sell, Great time to buy
According to Managing Director of The Mortgage Store, Glenn Maynard, Christmas is a notoriously bad time to sell property with everybody is preoccupied with holidays and social gatherings. And, says Maynard, a bad time to sell means and good time to buy. "Anyone selling around the Christmas perio...
BEWARE: Smoke and Mirror Companies
According to The Mortgage Store's Director, Mr Glenn Maynard, it's not surprising that the number of new lending services and products available today confuses homebuyers. But what's worse, he warns, is that some lenders offer products that in the long term will only burn holes in their pockets....
Buying Your First Home
However, this doesn't mean you need get stressed out and overwhelmed by the home buying (and selling!) process. With some careful planning, patience and expert help from your Mortgage Store broker, you will hopefully breeze through the process and be relaxing in your new home in next to no time. Hom...
Can you afford it?
Some good advice is to make some preliminary financial arrangements before you begin talking to builders or real estate agents. Without a budget in mind you won't be able to make make the really important decisions and end up likely wasting your time and the time of others. Pre-Approval and Loan Re...
Getting Pre-Approval
The real issue with real estate financing is not getting a loan (virtually anyone willing to pay lofty interest rates can find a mortgage). Instead, the idea is to get the loan that's right for you -- the mortgage with the lowest cost and best terms. Realtors routinely suggest that consumers start t...
Home Loan Offers Cost Thousands More
According to Glenn Maynard, Director of The Mortgage Store, one of Sydney's leading mortgage brokers, many lenders are marketing low-cost loan features that have questionable benefits for the borrower to attract the attention of customers. "Homebuyers should be wary of incentive programs and one-off...
HOME RENOVATION FINANCE NO LONGER A DAMPENER
Glenn Maynard, Director of The Mortgage Store, recommends two easy ways to obtain home renovation finance depending on the extent of the renovations and the amount of finance required. "An uncomplicated way to finance home renovations is to extend an existing home loan by attaching a line-of-credit....
How to Get the Loan you Want.
Easy, simply follow this guide to the best and worst things you can do to get (or not get!) the home loan that best matches your lifestyle. Warning: These are guidelines suggested by our experts. And whilst they may not all be fun, doing these will help you get to where you want to go! Pay your bill...
Income Protection Explained
"We're often asked to help people re-enter the property market following a mortgage default. Of those customers, around 40% have failed to keep up with their repayments due to sickness or accident," says Glenn Maynard, Managing Director of The Mortgage Store. Income protection insurance works by pr...
Interest Rate Advice
The Mortgage Store, one of Sydney's leading mortgage brokerage companies, lends in excess of $25 million in new home loans and obtains approval for more than sixty home purchasers per month, with an average of $360,000 per home loan. According to The Mortgage Store's Director, Mr Glenn Maynard, home...
Low Doc Loans
This is where a product called a "low doc" or "no doc" loan can help out. The downside to these loans is that they can cost you from half a percent to over a full percentage point more than you would pay on a standard loan. But the appeal of such loans is that you need not provide detailed financial...
Mortgage Basics
The type of loan you select will affect not only the amount of interest you pay to the lender and the term or life of the loan, but can also have other options and add-ons that can help you realise future financial goals. Interest Rates and Life of the Loan Typically the maximum life or term of a mo...
Mortgage brokers – Things you must know
Mortgage brokers are intermediaries that offer loans from a variety of lenders, saving you the hassle of shopping around. But getting the most out of using a mortgage broker means not just saving time and effort but also ensuring any broker is working in your best interests. That means giving you a ...
Mortgage Insurers Urged to Review Policy to Match Market
"Currently, home buyers with a 5% deposit are restricted by mortgage insurers to borrow around $400,000. With median house prices in the city and Eastern Suburbs around $615,000, the North Shore at $500,000 and the Inner West at $430,000, mortgage insurers are out of step with the market," says Gle...
New Home or Old
Today's new homes offer many advantages over old homes. Besides the fact that with a new home you often have the opportunity to get exactly what you want, new homes benefit from recent advances in technology and are less likely to need expensive repairs for many years. However, there are of course ...
New Lenders Counter Bank Dissapointment
"Many homebuyers who come to us have had their loan applications rejected by banks due to poor credit history, insufficient financial information or inadequate deposit," says Mr Maynard, Director of The Mortgage Store. "Thanks to new players entering the ‘non-conforming' loan market, mortgage lender...
Online Mortgage Lenders - Proceed with Caution
"At first glance obtaining an online home loan may look attractive especially if the website offers in-built loan calculators, rate comparison, loan options or accepts electronic applications. But at the end of the day no internet tool is able to provide tailored home loan advice nor the opportunit...
Property Investing Basics.
To give you the best chance in succeeding with your investment strategy, take the time to research and understand how investment works. Generally, investing in real estate can provide you with the financial benefits of capital growth and negative gearing. What is capital growth? Capital growth is th...
Refinancing
Refinancing your mortgage could allow you access to cheaper interest rates, new options such as off-set accounts or even unlock additional equity in your home to buy an investment property. And in most cases, refinancing is quick, painless and reasonable. However,, there are some reasons to forego r...
Refinancing Complacency Could Cost You Thousands
"Very few homeowners refinance their mortgage out of sheer complacency – and it's costing them thousands of dollars every year," says Glenn Maynard, Managing Director of The Mortgage Store. And, says Maynard, many lenders count on this complacency from homeowners. "Many lenders use a marketing philo...
