Looking for a mortgage broker to help you save on your home loan? Savvy can connect you with licenced, carefully vetted mortgage professionals that source cheaper borrowing solutions for home buyers.
Ringwood is one of Melbourne’s up and coming suburbs, and it’s got a lot going for it. It’s a family-friendly neighbourhood with access to huge shopping centres and an abundance of parks and bushland.
What specialist features can a mortgage broker help me access?
Depending on factors like your aims, your employment, and your savings, there are several features and specialist home loans our mortgage brokers might consider, including:
- If you’re self-employed, a Savvy mortgage broker can help you access cost-effective home loan options
- Professional package home loans offer interest rate discounts based on your occupation
- Find a full range of home loan refinance options. Switch your mortgage to consolidate debt, buy a second home using the equity in your current property, or just refinance to a loan that better suits your current circumstances.
- If you’ve had issues with past borrowing, all is not lost. A mortgage broker can talk you through overcoming that hurdle, and many lenders offer specialist bad credit home loan solutions to help you get back on track.
- On the other hand, if you’re a big saver, ask your broker about how linking an offset account to your mortgage can help you pay down your home loan much quicker
Why are families moving to Ringwood and how does a mortgage broker help them?
There are several reasons why Ringwood has become a magnet for families, first-time home buyers, and property investors. This suburb ticks a lot of boxes for many groups of home hunter.
- Location: It’s an easy commute to the CBD at just 45 minutes from its brand-new train station and a 30-minute drive via Eastlink, which goes straight into Melbourne. On the weekend, you can stay local and visit any one of a number of local parks and reserves, or head for the beach, which is just a short drive away.
- Amenities: Ringwood has pretty much everything you'll need. There’s Eastlands shopping centre, scores of cafes, bars and local shops, plus a multitude of schools in the area. All of this and you can leave your car at home.
- Investors: it's a family-friendly, commutable base for thousands of Victorians, which is reflected in returns for property investors. Rents for houses sits at an average of $450 per week, while units and apartments fetch about $400. If you’re looking to buy a second home in the area, local mortgage brokers can source cost-effective investment home loans, and you can find useful features like interest-only repayments.
- Family homes: If you’re looking to put down roots in the area, a mortgage broker can help you find competitive owner-occupier home loans with a range of repayment options, like fixed interest rates, variable-rate repayments, and even split repayment options. You can still pick up a family home for under $850,000, which is amazing given its transport links and facilities.
- First-time buyers: the suburb remains very accessible for first-time home buyers too, with units and apartments selling for around $600,000. Talk to your Savvy broker about low-deposit home loans, guarantor mortgages and even family pledge loans – all designed to help you achieve home ownership faster.
Why use a Savvy mortgage broker?
The primary benefit for homebuyers when they talk with a mortgage broker is they’ll get a more personalised and efficient home loan service. Brokers start by assessing your requirements, preferences and finances so they can source your home loan from borrowing solutions that match all three.
Brokers tend to partner with dozens of different lenders, so they can access a lot more options than if you limit your search to a bank or single loan provider. Once they’ve searched the best mortgages out there, a broker will look at your specific aims and select a group of options that would best fit your needs as borrowers.
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.