Savvy partners with some of the best-rated home loan specialists in Australia to bring home buyers a smoother, more cost-effective way to find their ideal mortgage.
The Northern Beaches have something for everyone. Whether you want national parks, a dip in the ocean or harbour, or you like a slice of city life; you’ll never be short of things to do in this region. So, if you need a home loan broker in Balgowlah or a mortgage in Dee Why, Savvy can help.
We partner with the best MFAA and FBAA approved home loan brokers all over Australia so that every home buyer can get great advice and trouble-free mortgage applications.
What happens when I talk to a Savvy mortgage broker?
Talking to a mortgage broker is a straightforward process, and it’s good to make sure you know what you want before you do so. Don’t worry if you’re unsure about anything, however. A mortgage broker can talk through and advise about anything that’s still undecided:
|Speaking with a Savvy mortgage broker|
Finding out about you
Your broker will ask you questions about your finances, enquire about your goals, and discuss any special requirements you have.
This is all about finding you a mortgage that fits with your circumstances and what you want to achieve. The broker will use this information to target relevant lenders and products.
What to consider:
Have a definite plan when you talk with the broker. If there’s something specific you want to achieve with your home loan in the next couple of years – like making extra repayments, for instance – let the broker know.
Remember to include all relevant details about current financial commitments so that you avoid delays and false starts.
Comparing home loans and making them fit
Once your broker has got an idea about your bigger financial picture and any specific targets you have, they can start comparing the best owner-occupier home loans from lenders who fit your profile.
What to consider:
Our mortgage brokers tend partner with dozens of different lenders, so they’ll concentrate their search on providers that meet all your details.
For that reason, it’s important to be realistic about your goals and to tell your broker about any future plans or ambitions you have. Now is the time to look forward and figure out if cheaper home loan options could hamper what you want to achieve later on.
The lowest-priced options in the short term might not necessarily be the best bet in the longer term because they often have fees that prevent using things like offset accounts or redraw facilities or even switching a mortgage. Let your broker know if your plans could change or if you have a long-term goal – such as paying off your mortgage early.
Your broker will then help you prepare the paperwork and forms for your home loan application.
The process can be tricky to negotiate on your own, and this is where the broker’s industry knowledge and experience can speed things up and minimise issues. Once you’ve submitted an application, your broker will continue to chase everything up and monitor progress until settlement.
What to consider:
Stay in touch and contactable during your home loan application so that if there are any problems, they won’t result in a delay.
Once your application is approved, your broker will be happy to provide further advice about local requirements like stamp duty and transfer fees. They’ll liaise with the vendor’s representatives when needed too.
Can a mortgage broker help every type of home buyer?
They can help you find the best options and features for your situation and any plans you have, turning to a broad range of solutions when you have special requirements, including:
- With so many neighbourhoods making up the Northern Beaches and their close proximity to the city, the area is a great place to buy a second home. Local brokers can help you compare a selection of purpose-designed loans for investors, with useful features like interest-only repayments.
- Low-deposit home loans are an excellent way to get into a new home without amassing a huge deposit. With property prices so high and consistently rising, down payments can prove prohibitive for all sorts of buyers and a broker can show you how to select a mortgage that suits your means.
- Self-employed mortgages come with all the features of other owner-occupier home loans. Your local broker will help you compare a range of options if you own a business or work as a contractor.
- Professional package home loans come with cost incentives for career professionals. Talk with your broker to see how using one could reduce mortgage interest.
- Guarantor mortgages and family pledge loans can help first-time buyers afford their first place sooner. They’re a great way for family members to contribute to your home buying effort.
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.