I Have Saved Up My Deposit … What Next?.
If you have saved up a deposit, and are unsure what to do next, you are not alone.
We often get asked “What next?” by borrowers who are ready to start the loan application process but don’t know where to begin.
Assemble your success team.
Whether you are looking to buy your first home or build an investment portfolio, you will greatly benefit from having the right team of professionals around you.
A good accountant, solicitor and buyer’s agent will help you navigate the buying process. They can offer sound advice about structuring and negotiating as well as your rights and responsibilities.
Don’t forget your broker.
When it comes to borrowing, the most important expert you can call on is a finance strategist.
The biggest advantage of using a mortgage broker is that they have access to a wide range of lenders and products.
If you have specific needs, a broker can hunt down the best type of loan available. If you deal with a bank directly, you will only have access to that bank’s loans. Keep in mind that they may not have what you are looking for.
A good broker will guide you through the loan application process. They will tell you everything you need to do to get the ball rolling.
They will assess your situation and find the most appropriate loan for you to apply for.
This will help you avoid being knocked back by lenders. It will also help increase your chances of success both now and further down the track.
