Mortgage Brokers Launceston

Buying a home in Tasmania’s second-biggest city? Here’s how Launceston mortgage brokers save home buyers money.

Last updated on April 26th, 2022 at 09:52 am by Bill Tsouvalas

Mortgage Brokers Launceston

Looking for a mortgage broker? You can save money and get expert advice by connecting with a home loan specialist through Savvy. We only partner with MFAA or FBAA-approved mortgage brokers and carefully select candidates based on a sound history of helping homebuyers find the right mortgage products and features.

Launceston’s population of a little over 100,000 is almost double what it was just two decades ago. The city is thriving, with a big secondary education sector and tonnes of character. Families flock there because it retains some of its small-town charm but has all the amenities of a modern city. It’s both surrounded by, and full of, history, with the towns of Longford and Westbury nearby and its many 19th-century buildings.

I’m buying a new home. Should I talk to a mortgage broker?

Yes – talking to a Savvy mortgage broker has a few distinct advantages for homebuyers. First of all, we partner with dozens of lenders, giving them access to hundreds of different mortgage products and home loan features – so it’s usually a cheaper way to buy a home than relying on just your regular bank or one lender.

Homebuyers will be pleasantly surprised to hear that Launceston is a very affordable city with houses averaging just $530,000 and apartments still available for as little as $350,000. That’s despite it offering a harbourside lifestyle and having all the trappings of a settlement dating back to just after 1800.

Our brokers compare hundreds of owner-occupier home loans with features like fixed or variable-rate repayments, split repayments, and cost-saving add-ons like offset accounts and redraw facilities.

Can a Savvy broker help me have a quicker mortgage application?

More lenders usually mean lower home loan interest rates, but that’s not all a broker does. They also help homebuyers prepare for applications and qualify quicker. That’s because mortgage brokers know the various requirements for specific home loans and features.

Once your application is complete, mortgage brokers stick with the task until everything gets settled. They check progress with your lender and address any potential issues, and communicate with the vendor’s representatives on your behalf.

Can a Savvy mortgage broker help investors?

Brokers help many investors maximise their returns. Launceston has an active rental market, with more than a third of the population being tenants. Landlords can expect to see weekly rents of $400 for houses and $300 for smaller units or apartments. If you’re looking to buy a second home or add to your portfolio, a mortgage broker can show you hundreds of specialist investor mortgages.

Many investors take advantage of custom features like line of credit facilities, which allow access to the equity in your existing properties to fund a second purchase or expand your portfolio. Investors can also apply for features like interest-only repayments.

Can a Savvy broker help me refinance my current mortgage?

Absolutely – when you refinance a home loan, it’s important to compare as many options as possible, and a Savvy broker will narrow down your choices to the most relevant, cost-effective solutions out there.

You can help your broker find a faster, cheaper home loan option by having some important details ready when you talk:

  • Bring statements for your current home loan.
  • You’ll need to supply details about the property, like the block size and the number of bedrooms and bathrooms.
  • Details about your income. If you’re self-employed, you’ll need a couple of income tax assessments and possibly the financials for your business. If you’re employed full-time, you’ll need payslips dating back a few months.
  • Details about your regular expanses, like utility and rates bills
  • Statements for any vehicle or personal loans, credit or store cards you have.
  • Evidence of assets, like shares and superannuation, plus insurance documents for vehicles, boats, and home contents.