Mortgage brokers are becoming more and more popular amongst business owners and home owners simply because they now offer more benefits than ever when it comes to financing. With the help of mortgage brokers melbourne, you can buy the home of your dreams, get a personal loan or even get the financing you need for your business as well as a lot of other options. The reason why the services have expanded so much is because the services can interlink greatly to supply you with the best possible solution for all loan needs. Some of the top solutions are;
Buy a home or business property
You can buy the home of your dreams or get that perfect business property with the help of a mortgage broker and enjoy interest rates as low as 4.40% and a mortgage period that can extend over a great many years so you can get a budget friendly monthly mortgage fee.
Take out a personal loan
Personal loans are a lot more affordable through a mortgage broker than they are when you use credit facilities and you can use the loan for whatever you need and enjoy repayment periods of up to 15 years.
Take out a second mortgage
Second mortgages are risky because the interest fee is much higher than that of the first mortgage but it is a great way for you to afford renovations at your current home or to finance certain business improvements such as an extension to the offices.
SMSF loans are a great way to help individuals with bad credit records because employers take the financial responsibility for the loan and are held liable for the payments while the buyer gets the home of his or her dreams without being financially secure.
Create an offset account
Offset accounts are great for both home and business owners because the can use the account as an everyday account and deposit savings. The balance of this account is subtracted or added to your home loan and is included in your loan package.
Some mortgage brokers even provide redraw facilities that allows them to pay extra on their mortgages and withdraw these bonus payments when they are suddenly faced with an emergency and need the cash back.
Bad debt consolidations
If you have a lot of loans at various places such as personal loans and credit cards then you can take out a larger loan on your property, pay off these loans and enjoy a lower interest rate for the new loan that is now made on your home. This is a perfect solution to stay away from bad credit.
Buy to let property
You or a business you own can start investing in property by taking out mortgages with the ideal goal to rent the property out to cover the mortgage. More and more people are starting to invest in buy to let property simply because it is easy money. They take out a mortgage and their lessees pay the mortgage for them. No extra effort is required on their side to earn cash.