Often, people are a little confused as to what a mortgage broker actually does. It goes without saying, that our primary purpose it is to help our clients. When it comes to mortgages, one way we do this, is to stay up to date on home loan lender policies.
What does this mean?
You probably hear about changing lender policies and crackdowns in the media. But what does this mean for the average person who wants a home loan?
Lender policies can be extremely complex – sometimes too complex for the average person to understand. That’s part of our job as brokers. We break down the jargon. This lets us clearly explain your options with regards to applying for a home loan.
When you hear about policy changes and crackdowns, that usually means that these already complex policies just became even more complicated. Often these policies change so quickly that the average person has no idea what new mortgage rules apply to them.
It’s our job to keep up to date on every single one of those changes, and what they mean for our customers at Bee Finance Savvy.
For example, it’s not uncommon for our customers to have one home loan with a family member, and later want another home loan with their spouse. This has recently become a complicated area.
Say you already have a mortgage with your sister, and you want to buy another house with your husband. A number of lenders have just made this much harder. These lenders require you prove you can afford to pay the whole mortgage with your sister – even if she actually pays half.
As you can imagine, a policy like this reduces your borrowing capacity to obtain another home loan.
By keeping up to date with lender policies, we’re able to direct customers in this situation to the right lender. There are often lenders out there, who apply more of a common sense approach. It’s our job to know who they are.
How do I find out where to go for a home loan?
If, like most people, you aren’t sure where to go for a home loan, we can help. Bee Finance Savvy will provide you with a free, up front consultation. In this discussion, we’ll go over your needs and your situation. We’ll then work out which lenders suit you best.
By going through this process, we eliminate the mistake of putting in applications without knowing whether you’ll very likely be approved. This common mistake leaves unneeded marks on your credit file, making it harder for you to get finance.
We only submit a home loan application when we’re confident that it will be approved. This allows you to focus on finding the property you want!
To find out more, contact our Sutherland Shire based broker, Desiree. You can call Desiree on 1300 140 554 or 0455 131 937. You can also email her at firstname.lastname@example.org . Alternatively, you can fill out the contact us form on this site.
If you’d like to read reviews from some of our customers, you can check out our review page on WOMO https://www.wordofmouth.com.au/reviews/bee-finance-savvy-miranda