How Working With Our Mortgage Broker Mount Mee Benefits You

A 90-minute drive northwest from Brisbane, Mount Mee is part of the beautiful D’Aguilar Range and overlooks the magnificent Glasshouse Mountains. The Mount Mee Forest Reserve, which consists of large areas of rainforest, stunning views, and picture-perfect bushwalks, is a great place to unwind and get back to nature. Hikers can enjoy its open forests, rainforest creeks, and hoop pine plantations, while history buffs can view the remains of an old sawmill and learn about the suburb’s forestry and logging history by taking the Piccabeen Palm walk. The area is known for its coffee growing and a wide variety of local cheeses, which you can savor at its local restaurants and eateries. If you think that this is the suburb for you, get in touch with our mortgage broker Mount Mee right now!

What are Mortgages Used For?

Mortgages are financial terms that describe how you can get loans by using collateral as security. In fact, mortgaging has now become so in-demand that many people have entered this industry to help others acquire a loan.

Mortgages are commonly used to buy or build residential and commercial properties, and are offered by banks and other types of financial institutions.

The amount you can borrow will depend on your personal property’s worth to pay off the loan. And while there’s a standard way of applying mortgages, interest rates and other formalities will depend on your chosen lender.

What Types of Mortgages Can Our Mortgage Broker Mount Mee Help You Get?

Constructing or buying a property usually isn’t possible without help from banks and lenders. If you’re planning to acquire a property but don’t have the whole purchase price yet, mortgage loans are your new best friend.

However, there are many types available making it difficult for you to choose. So today, let’s look at your choices and who they’re for to make decision-making easier for you:

Fixed-Rate Loans

As the name suggests, these loans involve a fixed amount you have to pay each month. The rates, however, are usually higher than the current variable, which makes them a bit expensive.

Our mortgage broker Mount Mee recommends this if you have a fixed budget since you know how much you owe per month. But aside from the high rate, if we ever find a new product we think is more suitable for you, switching providers is costly because most lenders charge a fee.

Variable-Rate Loans

The go-to option of most homebuyers, these loans depend on the Reserve Bank of Australia’s ever-changing cash rates and the constant rise and fall of interest rates. Meaning, you can have low repayments in some months while high payments in some.

Yes—variable-rate loans sound risky. But our clients still prefer this option because depending on the lender, it lets them repay in various ways. Plus, if our mortgage broker Mount Mee finds a new product that suits your needs more, changing providers is easy since they don’t charge a break-cost fee.

Guarantor Loans

Want to borrow up to 80% of the purchase price without paying the mortgage lender insurance? Then guarantor loans might be the option for you.

All you have to do is ask your parents or a close family member if they can be your guarantor. If they agree, a portion of their house turns into your collateral. Our mortgage broker will suggest this loan if you’re a first-time buyer and are new to the property market.

Line-of-Credit Loans

Our mortgage broker Mount Mee recommends this loan if you’re planning a home renovation. Also called “home equity loans,” these allow you to make the most of your loan by spending the loan amount on more important expenses. You can even choose to spend it in a lump sum or bit by bit.

But these aren’t an option if you’re an impulsive buyer. This is because once you’ve drawn from your line of credit, you need to make repayments right away to compensate for the amount lost. Not doing this will only extend your loan term.

Interest-Only Loans

These mean exactly as they sound. Interest-only loans let you skip paying the principal amount and just focus on paying the interest—for now.

Our mortgage broker Mount Mee will suggest this if you’re a young home buyer or don’t have a lot in your bank account. These are also great if you’re a property investor looking for negative gearing or planning to resell your property to make some profit (as long as it won’t depreciate.) ‘

These usually last for 7 years before going back to the “traditional route.”

Investment Property Loans

Investment property loans have the strictest requirements. First, you must prove that you have enough funds set aside to pay off the total loan amount. Some lenders may even require them to be higher as compared to if they were for a regular home loan!

Lenders will also check your rental income and make sure it isn’t enough to shoulder monthly repayments. This is because the property should affect your income-to-debt ratio, or the part of your monthly salary used to repay the loan.

Last is the property’s potential for appreciation during the loan term. This is why lenders are always aware of the trends in housing prices and vacancy rates.

Why Consider Working With Our Mortgage Broker Mount Mee?

For many years, banks were your only option when applying for a mortgage—which also meant there was very little competition among financial institutions. Fast forward to the present, borrowers now take their time comparing products from various institutions to get the best loan for them. This eventually led to the birth of our profession.

We’re here to help you find and land the best loan to fund your next financial goal. We’re also required by law to have an ACL (Australian Credit License) or be credit representatives of a licensee (aggregator) to serve as your protection in case a lawsuit happens.

Here are some ways using our mortgage broker Mount Mee is an advantage:

We Know How the Mortgaging System Works

First off, do you know the difference between variable and fixed-rate loans? If not, we can easily explain them to you and discuss the pros and cons of each.

Secondly, do you know how we’re different from mortgage advisors?

As mortgage brokers, we work independently and compare different products that work to your advantage. Mortgage advisors, on the other hand, work for a bank and only care about selling products from that particular bank—even if they don’t necessarily work for your needs.

We Help Save Your Money and Time

Without our mortgage broker Mount Mee, you have to meet with various banks and lenders to find a suitable product. Since most of them are only open during business hours, this means you may need to file a leave (or leaves) just to talk to them and, hopefully, reach a deal.

Working with us means we’ll do all the negotiations for you. We can meet with lenders even after office hours too, to save you from unnecessary stress and to ensure a stress-free loan application process.

We Protect Your Credit Score

Applying to banks yourself means that if you get rejected even by just one, it will reflect on your history and therefore, affect your credit score.

Our mortgage broker Mount Mee prevents this from happening by applying using your financial information and never your identity. This increases our chances of finding you the perfect product while protecting your credit score at the same time.

We Take Care of Administrative Work

Think having a mortgage broker isn’t necessary? Then we hope you love doing administrative tasks! One of our jobs is to help you get all the documents you need for a smooth loan application. One of the documents we can help you get is a pre-credit authorization, which lets you know if you’re eligible for a loan and how big you may borrow.

We Stop You from Making Mistakes

One of the biggest mistakes people make is choosing a product with the lowest rate without understanding the terms attached. As your mortgage broker, we’re here to dissect and explain these terms so you won’t end up in a bad situation just because you were misinformed.

Your Place Mortgage Brokers: Your Mortgage Broker Mount Mee

Our goal here is to help you get your dream property. Whether you’re a first-time buyer or an experienced property investor, we’ll assist you with your journey from start to finish to make the process as hassle-free as possible. 

If you’re interested in living or investing in a property in Mount Mee, don’t hesitate to contact our mortgage broker and let us discuss your needs!