Mortgage brokers
- Thread starter rocko
- Start date
Not always, but you do get favourites - ones you know are great to deal with, have helpful BDM's, and good policy.
If he/she is putting ALL your loans with one lender, I'd be concerned as it's always better to spread them around a bit. A couple is fine, 3 or more (depending on situation/portfolio etc) and I'd be asking questions - they may have a perfectly good reason, but they'd want to be able to explain it thoroughly to you.
If he/she is putting ALL your loans with one lender, I'd be concerned as it's always better to spread them around a bit. A couple is fine, 3 or more (depending on situation/portfolio etc) and I'd be asking questions - they may have a perfectly good reason, but they'd want to be able to explain it thoroughly to you.
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80 % of market shareis held by 6 lenders I think so its not surprising that similar lenders come up for similar needs.
It also means in theory that you arent having serviceability issues, bevcause that would exclude certain lenders
typically, mys structured lending clients dont get a "choice" . there is ONE max 2 lenders that fit best, and this changes as their portfolio and the market changes
ta
rolf
Hiya Rocko
There's no one size fits all.
My general rule is to limit exposure to less than $1m with any one lender and usually no more than 2/3 properties.
If servicing is an issue - there's usually a handful of lenders that are good in this space. They're the ones that take the repayments on loans you currently have (usually with other banks) at "actual" repayments rather than an inflated amount.
Those lenders include Mac, Nab B, Adelaide Bank, AMP and Advantedge to name a few.
Are one/some of these lenders being recommended?
Cheers
Jamie
There's no one size fits all.
My general rule is to limit exposure to less than $1m with any one lender and usually no more than 2/3 properties.
If servicing is an issue - there's usually a handful of lenders that are good in this space. They're the ones that take the repayments on loans you currently have (usually with other banks) at "actual" repayments rather than an inflated amount.
Those lenders include Mac, Nab B, Adelaide Bank, AMP and Advantedge to name a few.
Are one/some of these lenders being recommended?
Cheers
Jamie
Early on in your accumulation phase?
Theirs a set of lenders to use early, so your broker may be recommending these because it fits in with your plan to grow and accumulate more properties over time. As you do grow, the lender recommendations may shift to match your portfolio.
No, brokers generally have access to 20-30+ lenders. Depending on the brokers volumes, i'd say 10-15 of those get used regularly, and the other 10-20 lenders are there to for specific policy niches and to cater for more narrow purposes.
Cheers,
Redom
Yes likely if you have maxed out.
1. Have you or have your broker asked you about your overall 3,5,10 years goal?
2. Personally i wouldn't put more than max $1.5m or 2/3 properties per lender- which ever came first -unless each loan was like $150-200k ie your rental yield investors
; but it depends on the clients situation/ long term goals and income.Think you have got a wide range of answers. At the end of the day you feel comfortable with what your doing and you have a strong team of advisers around you then listen to them. Otherwise if you cannot trust their advice find new ones you can trust. That is the point of having a trusted team of advisers.
