Investors Struggling With Lender Policy Changes

A mortgage broker is important whenever anyone has concerns about how the recentpricing and policy changes may impact on his or her investment plans. Mortgage brokers will tell you exactly which lender products are available that will suit our needs. Mortgage providers provide various financial products such as home loans, personal loans, car loans, asset finance, deposit bonds, risk and general insurance.

Investors are however shelving their investment plans due to the changes in pricing and lender policy changes.

Recently tightened lending rules

Mortgage brokers Melbourne have complained that recently activity has fallen by more than 10%.This is following the recently tightened lending rules for foreign buyers .loan applications that are solely based on foreign income are now not accepted. Current rules for non-residents stipulate that they must be employed, not self-employed, or shareholders must be met face-to-face and will only be lent up to seventy percent of the value of the property.

Moreover, the offshore investors have to deposit a large sum of money of up to five thousand dollars for homes valued for more than one million us dollars and ten thousand dollars on homes valued at more than one million us dollars. Most property of high value is just sitting on the market.

Rise in interest rates

Banksno longer offer adiscount on interest rates on new investors who do not have a mortgage over their home with the bank. The big banks are scrapping or scaling back lucrative discounts routinely offered to new property investors, something that has raised the interest rates.This has lowered the demand from investors. Mortgage brokers Melbourne have also been informed that banks would be scrapping a one thousand us dollars rebate for new investors.

  Evidence of non-nab loan repayments

Acceptability of evidence will be based on the loan type. The loan statement or internet account summary dating not less than six months showing scheduled amount or aminimum of one-month loan repayments must be provided for principal loans and interest loans!

Loan statement, or an internet account summary, or internet account listing no older than six months showing the current limit or current interest rate must be provided for interest only or line of credit loans!

Documents requirement

Rules regarding documents required to obtain a loan tightened. For offshore investors, they must provide a copy of the original visa, income and passport documents.

Numerous changes prompted by claims of money laundering amongst foreigners in the Australia property market. These changes are however starting to have an impact on some investors. Mortgage brokers come in handy at such a time as they offer expert advice to suit your needs. A mortgage broker Melbourne is always available to provide advice regarding the most recent changes in lending policies. More details in this link: http://www.investopedia.com/articles/stocks/07/beat_the_mistakes.asp

Changes such as removal of discretionary pricing on investment through to loan and evaluationrestrictions!  Amid the entirecrisis, however, property investment still represents a sound investment option for buyers the more reason why one should talk to a mortgage broker.

Independent Mortgage Advice: Do I Need It?

Mortgage brokers can be one of the biggest tools for anyone looking to purchase a home. However, brokers aren’t just good to help you find a good mortgage but to offer up real, independent advice. Of course, you probably don’t think mortgage advice is necessary especially if you are ready to take the challenge and purchase your first home but it might be. So, do you really need independent mortgage advice?

Get Unbiased Information

The big question everyone is asking is whether or not they need independent mortgage advice and the truth is, yes you do! Independent mortgage advice is important for a number of reasons. You are not only going to be told everything you need to know about mortgages and the process associated with it but you get unbiased views also. This is really important because it will allow you to understand fully. A mortgage broker Melbourne can advise you how the process works and you can decide whether you are happy with it. Read more at http://www.abc.net.au/news/2016-03-03/could-mortgage-broker-activity-be-the-new-housing-risk/7217340

Sort Out the Myths from Facts

There are a lot of myths surrounding mortgages and the loan process and that can put a lot of people off. However, when you get independent mortgage advice you can actually sort out the myths from the facts and that can give you a lot of help. Getting to know the facts about the mortgage process can give you the confidence to go ahead and take the next step. You absolutely need all the advice you can get whether it’s from mortgage brokers or an independent service line.

Independent Mortgage Advice  Do I Need It

You Need Independent Mortgage Advice

It doesn’t matter whether you want to buy a first, second or third home, you should always get independent advice. Independent mortgage advice is something every buyer will need and even though you probably don’t think you need it, think again. Getting a small portion of advice can be very useful and it can allow you to understand what direction you want to head into. You can also feel a little safer and at ease knowing a few basic things about mortgages. You might not be ready for the full commitment of a mortgage but getting advice from a mortgage broker Melbourne or another independent advice service can be worthwhile. Click here to read more info about independent mortgage advice.

A Mortgage Broker Melbourne Can Help

Mortgage brokers might not seem to be the best people to turn to when it comes to obtaining mortgage advice, though they can be. You have to remember brokers deal with all sorts of people and usually have a vast amount of experience which means they know what mortgage is going to be right for someone. If they seriously don’t think you will be eligible for a mortgage or don’t believe you are in a strong finance position, they will let you know. This is what they do; they guide and give independent mortgage advice to all who require it. You will get so much help and you do need it.

Be Sure Before Buying

Before you take the plunge and actually acquire a mortgage, you have to be fully aware of what is involved and be sure you are happy. Too many people don’t get independent advice and end up making a terrible mistake. This doesn’t need to happen to you; if you get independent advice from a mortgage broker Melbourne you can be sure about your next move.