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  1. Shirley
  2. Australian mortgages
  3. Monday, 07 October 2013
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To Whom it may concern,

My husband and I are starting to look at property and will be seeking the assistance of a broker or bank to get a loan approved. From doing some reading on the web there seems to be so many options and so confusing. What should I be looking for?

Shirley
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Thanks Craig, I read your blog, was really useful and has helped a lot. Made a comment on there also. will be in touch soon. Thanks
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  1. more than a month ago
  2. Australian mortgages
  3. # 1
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Hi Shirley, Thank you for your question. the features you select all depends on your circumstances and needs. What might be suitable for your neighbour, might not be suitable for you and your husband. In terms of the main types of product, you have a Fixed rate loan or a Variable rate loan and then you can have a combination of both. If you are planning on keeping the property only for a short period of time or you earn large bonuses or commissions then you may not want to fix the whole loan. If you believe that the reserve bank of Australia will increase the cash rate, then you might want to fix all or some of your loan so you have certainty of repayments. I have written a blog on Fixed v's Variable below, please have a look and let me know your thoughts. In terms of the products you select in terms of an offset account, redraw and so many more, well this will all depend on what product you choose. To get more of an understanding it would be best to sit with an accredited mortgage broker to discuss in more details your options and hopefully organise a pre-approval for you and your husband. Hope this has helped and please feel free to contact myself for more information
References
  1. http://www.cbmmortgages.com/index.php?option=com_easyblog&view=entry&id=3&Itemid=160
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  1. more than a month ago
  2. Australian mortgages
  3. # 2
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