First-time property investors: don’t hesitate to ask for help!

Property investment is one of the most popular ways in which Australians choose to grow their wealth.

The combination of a passive rental income with growing equity in an appreciating asset is certainly an attractive one, particularly as with property investment loans you can purchase a piece of investment real estate at comparatively high leverage.

For first time investors however, it may be daunting to take the first step and enter the arena. How do you know where to start and how to proceed?

Get to know economic indicators

Investment real estate is a market and it has its ups and downs. Unless you are a property-savant it can be hard to accurately predict the exact movements of such a complex set of relationships.

Yet that doesn’t mean you can’t make educated guesses, and the quality of those guesses will depend on how much you educate yourself about current market conditions.

There are lots of different statistics which can help you form a picture of the market and influence where and when may be best to buy.

Housing market activity can be gauged by looking at auction clearance rates, loan commitments and housing starts which is an economic indicator that reflects the number of privately owned new houses on which construction has been started in a given period.

Similarly, an overview of current rental activity can be gained by studying vacancy rates, median rent prices and investment loan commitments.

Learn how to get maximum benefit

If you don’t know what negative gearing is, we can refer you to some expert advice.

Property taxes and other legislative requirements are not the same for investors as they are for people buying property to live in themselves.

That means you will have different obligations, but also different opportunities – so be sure to clue yourself up.

Talk to an investment loan expert

A Good Mortgage Broker can structure a personalised investment finance deal that gives you the funds you need to start your property portfolio.

They can also provide you to someone for helpful tax advice for investors and talk you through the insurance covers you will require as the new owner of an investment property.

A Mortgage savvy Broker has a great range of mortgage calculators to help with all those tough decisions that come with finding the right loan.

Disclaimer: It is designed for publication, to provide you with factual information only, and it is not intended to imply any recommendation about any financial product(s). The information in the article is believed to be reliable at the time of distribution, but neither Ok loans nor its accredited brokers warrant its completeness or accuracy. For information about whether a bank loan may be suitable for you, call us on 0431579459

Credit Representative Number 534490 is authorised under Australian Credit Licence 384704. 

How does a Mortgage Broker make a difference?

When prospective homebuyers enter the property market for the first time, many wonder who they can trust.

While it is quite common to feel that an outside party may not have your best interests at heart, it is not always warranted.

In the case of whether or not to enlist the help of a Trusted mortgage broker, it often comes down to choosing the right one.

A Trusted Mortgage Broker can be immensely helpful when navigating the home loan market. At the very least, they can help you to discern between the different types of mortgages and lender agreements out there.

What mortgage brokers should offer

To know that you have found a good broker, your Trusted Mortgage Broker should have a few standard qualifications to show they are legitimate.

This includes having a membership to the Finance Brokers Association of Australia (FBAA), being part of a reputable company network with head office support and professional training and be covered by professional indemnity insurance.

They should also be willing to disclose fees and commissions and have access to a broad panel of financial institutions.

Your  Trusted Mortgage Broker should also ideally have access to modern software to analyse various banking data.

Benefits Trusted Mortgage Broker can provide

In many cases, a Trusted Mortgage Broker can help you to avoid all of the pitfalls that new homebuyers can fall into.

This includes seeing through lender deals that seem too good to be true, signing up for products that you don’t actually need and getting talked into a mortgage that does not suit your personal situation.

A Trusted Mortgage Broker has knowledge of all of the lenders and products on the market and can therefore recommend the ones that align with your mortgage objectives.

Trusted Mortgage Broker has a great range of mortgage calculators to help with all those tough decisions that come with finding the right loan. Have a chat with us today @ 0431579459.

Disclaimer: It is designed for publication, to provide you with factual information only, and it is not intended to imply any recommendation about any financial product(s). The information in the article is believed to be reliable at the time of distribution, but neither Ok loans nor its accredited brokers warrant its completeness or accuracy. For information about whether a bank loan may be suitable for you, call us on 0431579459

Credit Representative Number 534490 is authorised under Australian Credit Licence 384704. 

Chatting about the ups and downs of Home loans.

Securing a home loan can be a bittersweet experience. On the one hand, you are getting the keys to a property you can call your very own. On the other, you are committing to a long term financial agreement that comes with a lot of responsibility.

Fear not, it is possible to stay focused on all that is grand about owning your own home and not having to worry too much about things going wrong.

The trick is to develop a plan at the outset of your mortgage, one that will encompass all that is required of you for the life of your home loan.

Stage 1 – The acquisition period

This is probably the most important stage when it comes to protecting yourself heading into a large financial commitment.

Before you sign on the dotted line, you should know exactly what you are buying and the agreement you are getting into.

For this reason, you should organise a chat with a broker who can explain to you the meticulous details, purchase fees and future payments associated with your loan.

Reading the fine print could save you stress and aggravation later on, while home loan insurance can give you peace of mind.

Stage 2 – The repayment period

After the initial purchase of your home and long after, you will likely be making monthly repayments to pay off the balance of your loan.

In order to accomplish this effectively, it is recommended that you set up a realistic budget that you can follow to keep everything ticking along smoothly.

This should include enough savings to handle periods of unemployment. Although you may be working full time now, you cannot know what the future brings.

Stage 3 – The reassessment period

If incomes or personal situations do change, it is important to remember that you can reassess your mortgage to suit your current situation.

Keeping in regular contact with your mortgage broker can help you decide if you need to refinance or rethink you’re saving strategy.

In any of these stages, it is easy to see how home loan insurance can provide peace of mind for all of those ‘just in case’ scenarios.

A Trusted Mortgage Broker has a great range of mortgage calculators to help with all those tough decisions that come with finding the right loan. Have a chat today with Rakesh at 0431579459 today to help you further.

Disclaimer: It is designed for publication, to provide you with factual information only, and it is not intended to imply any recommendation about any financial product(s) or to constitute tax advice. If you need financial or tax advice you should consult a licensed financial or tax adviser. The information in the article is believed to be reliable at the time of distribution, but neither Ok loans nor its accredited brokers warrant its completeness or accuracy. For information about whether a non-bank loan may be suitable for you, call us on 0431579459

Credit Representative Number 534490 is authorised under Australian Credit Licence 384704.