Mortgage brokers can help you qualify faster for a cheaper home loan deal – without the run-around. Get help finding, preparing, and applying for a better mortgage from experienced home loan specialists through Savvy.
Gladstone sits around 500 km north of Brisbane. Of all of the many primary regional towns along the Queensland coast, it’s the industrial hub, which means a wealth of employment opportunities for locals. The NRG Power Station is a major player and there’s also a massive port which handles over 100 million tonnes of cargo each year. The town is also home to the impressive RG Tanna Coal Terminal. When residents aren’t working hard, they’re enjoying the beautiful beaches, the botanic gardens or taking advantage of all the things that the busy and bustling town centre has to offer.
How do mortgage brokers help home buyers?
Savvy's mortgage brokers help a wide range of home buyers compare a selection of low-interest home loan solutions. They play an important part in a complex modern Australian ending marketplace, promoting competition and driving lower interest rates, dealing with dozens of lenders and assisting borrowers throughout the entire home purchasing process.
It might surprise some home buyers to know that independent studies indicate mortgage brokers spend about 55% of their time preparing your application, lodging it and working on your case pre- and post-loan settlement. They make an incredible effort to ensure your application goes smoothly – and that starts the minute they meet you.
Can a Savvy broker access a full range of mortgage features?
Absolutely. For our mortgage brokers, the priority is to find you the most cost-effective home loan and customise it to maximise your savings. They do that by using fixed or variable-rate repayments and a range of add-ons and features.
- Offset accounts are bank accounts linked to your mortgage balance. When you keep savings and earning in the account, it reduces the amount of your home loan that you pay interest on.
- Redraw facilities let you make extra repayments on your home loan and then access the resulting funds when you need additional borrowing, at the same low rate as your mortgage.
- Line of credit facilities work in much the same way. You can access equity you’ve built in your property over time from repaying your home loan and rising house prices.
- Split-rate home loan repayments allow you to use add-ons on part of your home loan while you pay a consistent interest rate on the remainder.
Can a mortgage broker help Gladstone investors?
Yes – our mortgage brokers are well placed to help second home buyers and property investors. They have local knowledge of what’s a very productive market for investors.
Units and apartments perform exceptionally well in the area, having a median price of around $170,000 but achieving $250 a week and returning a whopping rental yield of 7.8%.
Our mortgage brokers can access hundreds of home loan products and features from a variety of bank and non-bank lenders. They can help you compare hundreds of options, including a range of investment loans for second home buyers. Alternatively, you can choose interest-only mortgage repayments as part of a broader property investment strategy or access a range of investment mortgage refinance options.
I’m a first-time buyer. Can a broker get me a suitable mortgage?
Yes – our mortgage brokers helps first-time home buyers with a selection of specialist products, all designed to lighten the financial load of getting a foot on the property ladder.
Gladstone remains an affordable place for buyers new to the property market, and the town has a good mix of houses and units of all sizes. Median house prices in the area remain around $220,000.
One of the most challenging aspects of buying a first home is saving a down payment. There are a couple of home loans that can help first-time buyers:
- Guarantor mortgages allow a close family member to step in and provide security for your borrowing.
- You can use a family pledge loan with an immediate family member. It enables them to provide a guarantee for your down payment amount, allowing many buyers to get their first home quicker.
- Our brokers can help you compare a competitive selection of low-deposit home loans.
Aside from access to specialist home loans, brokers help first-time buyers with additional requirements when they buy a home, like concessions for stamp duty in Queensland, and they can even provide information about local government grants.
Your home loan options
Making your first big step towards buying a home? It's crucial to be across your mortgage options as a first homebuyer.
Opting for a variable interest rate on your home loan means it'll fluctuate as the market moves throughout your repayment term.
On the other hand, fixing your rate locks it in for a pre-defined period. This can bring with it greater certainty around your budget.
It's important not to set and forget when it comes to your home loan. If you find a more competitive offer, it may be worth refinancing.
If you're looking to build a new house, construction loans are specifically designed to cater to the different needs associated with doing so.
A guarantor essentially acts as a safety net for your lender, as they sign onto your loan to agree to pay it off should you become unable to do so.
Purchasing a property as an investment brings with it different specifications from a lender. It's crucial to know what your options are.
Businesses big or small may wish to purchase a property for commercial purposes, which are also different from a standard loan.
Your home loan may give you an interest-only option, which allows you to exclusively pay interest on your loan for a set period.
Just because your finances may be slightly more complicated as a self-employed individual doesn't mean you can't take out a home loan.
Some lenders may allow you to apply for a home loan with alternative documents, such as tax returns, BAS and ABN registration.