Why Use A Broker?

Let’s face it, getting a loan from a financier is not fun. No-one goes out of their way just to get a loan. Instead, we would all much rather focus on our dreams and our goals.

Getting a loan is also time-consuming and there is always a level of uncertainty and stress until the lender says ‘yes’. And it's even more time consuming if you are doing it all yourself - particularly if the first lender you approach says 'no' - because then you have to do it all over again - from start to finish. And that second time is DEFINITELY not fun!!!

Now, let me give you the TOP 5 WAYS TO QUALIFY FOR A LOWER-RATE HOME LOAN

With mortgage interest rates increasing, now might also be a good time to think about refinancing to a lower-rate home loan. Lenders are hungry for business, so they often charge new borrowers lower interest rates than loyal customers. As a result, you could score a juicy rate cut just by switching lenders.

But there’s one catch – you’ll have to qualify for the new loan. With interest rates rising, that’s becoming harder. So here are the top five things you can do to improve your chances:

1. Don’t change jobs or reduce your hours, because lenders want to see evidence of stable employment and a consistent salary. Once you have your loan, THEN you can change your job or start that self employment career you always dreamed of!
2. On top of maximising your income, look for ways to minimise your expenses - not only will you increase your savings but you will make sure you don't fall foul of the lenders' servicing calculators!
3. Reduce the limit on your credit card, (or, better yet, get rid of it altogether if you can) - all before you apply for your loan
4. Improve your credit score, by paying all your bills on time and reducing or even eliminating any debts you might have
5. Speak to a broker, who will know the right lenders for someone in your situation (these days, there is no such thing as 'one lender suits all borrowers')

Would you like more information? You can ring us now 1300 989 878 or email us at [email protected]

This leads us to the question...

So why should you use a broker?

1. Using a broker is a great way to minimise your stress and maximise your prospects of a lender saying ‘yes’ – but like all things, you need to use the right broker:? a broker who will work with you to get you a loan which is suitable for you.? And, look after you along the way – even after your loan has settled.
2. A broker has to ensure you have a loan which is suitable for you. A lender has no obligation to you to suggest you could get a more suitable loan from another lender.? They are only obliged to say ‘yes’ or ‘no’.
3. Brokers know that getting a loan can be stressful. Great brokers help you manage your stress by communicating regularly with you – they keep you ‘in the loop’.? Transparency and objectivity are key traits for many successful brokers.? Many of the compliments we receive from our clients focus on our communication skills and our ability and willingness to go ‘well beyond the call of duty’.

1. Brokers want to make sure your loan is being lodged with a lender who will say ‘yes’. Whilst there are no guarantees from a lender until they say ‘yes’, a broker can objectively assess all your information and have informal chats and even pre-present some information to the lender to make sure that your application is given the best possible chance of being successfully approved.? And, a great broker will keep you in the loop during this process so you know what is happening.
2. The interest rates you obtain for a loan product are the same as if you went directly to the lender. So there are no disadvantages price-wise in using a broker.

If you’re ready to refinance or would like to have a chat, let’s talk! I’ll help you understand your options and see what your next steps could be to save more sooner.

BUT ONE MORE THING!

Let me share with you one of my clients' stories that could possibly help you!! ??

Client Story: $150K tipper truck

If you’re a truck driver and want to start a new business, but need some large loan funds to get going, read on!

My client wanted to start a new business, having been a self-employed contractor in the trucking industry for just over a year. To start this business, they needed a large truck – more than 12 tonnes.

Most lenders require 2 years ABN and GST registration and/or they will only lend against trucks with a tonnage of less than 12 tonnes.

After reviewing the policies of over 15 lenders, we identified a lender who would finance the client’s truck at a monthly cost over 5 years which would be recouped in 2 days worth of business – happy days!

If this resonates with you, give me a call. You can also contact me through the link below.

If you’re ready to refinance or would like to have a chat, let’s talk! I’ll help you understand your options and see what your next steps could be to save more sooner.?0411 190 474 or?email me

AND ONE LAST THING!!

"Always remember, don’t waste your time with those people who can’t – or won’t – accept you for who you are."

On behalf of the BIR Finance team, have a great day!