When you decide to progress, we’ll send you our Fact Finder, Privacy Statement and Credit Guide. This is essentially everything you need to know about how we operate, all fees and a detailed form for you to complete to tell us all about yourself. Once these forms are returned we‘ll contact you to confirm your details before beginning your Preliminary Assessment.
Depending on the service you require, expect to receive a detailed plan for the loans and financing recommendations that fit your needs.
Some may wish to wait until they know where or what they want to buy. If so, we highly recommend you signup to our online education courses to learn the processes and access the resources to help clarify your individual needs and objectives.
We then complete the assessment when you are ready and have the clarity required to take action.
Sometimes analysis shows you are not ready to act. For example, you may need to save more of a deposit, sell a property, wait for fixed loans to expire etc. We get that and will instead formulate a plan forward so you have something to work towards. Plus, you’ll have access to the online education forever, regardless of your service level, so you can revisit the regularly updated material as it suits you.
Expect your Preliminary Assessment within a week of returning all the information requested. If you need an express service (for example – if you’ve found the right property already), please let us know and we will do everything possible to accommodate your needs.
We have been able to turn around an assessment, loan application, valuation, formal approval and settlement in 10 days from receiving a Fact Finder. So make sure you let us know if you are working with a short timeframe.
A Mortgage Broker is a professional who acts as an intermediary between loan customers and the lending institutions who offer their mortgage products. In some instances, Mortgage Brokers specialise in an area. For instance an investment Mortgage Broker specialises in appropriate lending finance for those buyers seeking to purchase an investment property whilst considering their long-term portfolio goals. So the best Mortgage Broker for first home buyers or home buyers may not be the best Mortgage Broker for investment properties.
Eighty per cent of Mortgage Brokers only assist home owners in their local area. They don’t have the breadth of knowledge of investors finance solutions and associated lender policies that are unique to investors. You need to know what services you need first and then look for an experienced mortgage broker who can assist you.
Many believe that their mortgage broker needs to be in their suburb. The reality is that this is not the case. You can easily work remotely with your Mortgage Broker. In fact at Investors Choice Mortgages we work with clients from all over the world, some we have assisted with more than 5 purchases without ever meeting them. It is common for us to liaise remotely with Solicitors, Buyers Agents and Real Estate Agents as well. Just check out our testimonials to see how simple it is to work with us.
A specialist Investment Mortgage Broker can add value to your investment property purchase because they continuously keep up to date with ever changing details of the vast and often complicated range of finance options currently available for investment property buyers.
For example, borrowing in trust structures, commercial property, buying within Self Managed Super Funds, building granny flats or even investing in a NRAS type investment. An Investment Mortgage Broker will have a good understanding of the criteria on which lenders will assess investment property finance applications and will have an understanding of possible future directions in the marketplace and lender policies that could hamper your ongoing lending ability.
By using an Investment Mortgage Broker for both your home and investment needs you should be confident that he or she knows and understands the range of finance options best suited for purchasing and getting the best value out of your situation now, and giving you the flexibility for the future. Employing this specialist with up to the minute knowledge can save you not only time, but also help make the often difficult process of searching for and getting approved for the right loan a whole lot smoother.
Using an Investment Mortgage Broker would also be a good option for first home buyers who may be on a limited budget and may benefit from viewing their first home purchase as an initial step towards building an investment property portfolio. After all, for most first home buyers the first home will not necessarily be the home you end up living in for the long term – it may be just a stepping stone towards future financial security through property investment. However most first home buyers have the wrong finance setup that prevents them having the choice of converting their home to their first investment property in the future and many are forced to sell. Setting up the right finance to suit the flexibility they need is essential, just as it is for a property investor looking to grow their portfolio.
Mortgage brokers are compensated by the lending institution in the form of an upfront and trail commission. Some specialist mortgage brokers like Investors Choice Mortgages charge an initial fee, like an engagement fee. The purpose of this fee is to ensure we can give the care and attention to those who are serious about their finance requirements and we are compensated for our time and expertise if you do not progress with your initial application.
Unlike the majority of mortgage brokers, we believe we have the skills, experience and know-how to offer additional services and educational products. Hence you will find a number of different service offerings. The decision as to how much of our assistance and education you need, is all yours.
