1. Should I go directly to the bank or should I go through a mortgage broker for my finance?
Property investment has lots of pieces to the puzzle. Location, type of property, new vs old... the list goes on, but by far the most important piece of the property investment purchase puzzle, is of course Finance. If you don't have your finances in order, and understand exactly how to structure it, it can severely impact the ability to continue to build your property portfolio.
"The game of Property Investing has a set of rules... and those rules are written by the banks"
We have created this series of finance videos to help you understand this essential part of property investing - no matter where you are in the property game - saving and educating yourself, a homeowner, or you already have one or more properties in your portfolio.
Hear what we think in Video 1 in the series: Should I use a mortgage broker?
It is bloody hard to get finance for a property these days and for that reason when you go on to secure your finance, the number one person you need on your team is the mortgage broker. Why do we use a mortgage broker? Generally, they're going to be an investment lending specialist and they're going to have access to multiple lenders and be able to provide you with multiple valuation. That means that it gets you the very best result for you when you're setting up your finance structure as well.
Then they can do quick and easy loan comparisons. There is dozens and dozens of lenders out there and they're able to sit down and compare each of those individual loans to meet your specific needs, and that's what they do. They provide that expert advice on a finance structure that's specific to you, so you need them on your side, you need to give them all the intricate details so that they understand exactly what's going on in your life and set up your finances to suit.
If required, they can also provide you with a finance pre-qualification letter only if it's required by the developer or the builder to get you over the line. Make sure you've got a top class mortgage broker there and they'll make your life a hell of a lot easier.
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