Need a Decent Mortgage Broker!
- Thread starter Karratha_Guy
- Start date
Can I suggest you check out NSW Mortgage Corp . They have a lot of flexible loan and finance products, and can tell you your options after after a short phone call.
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I'm skeptical of any broker that gives me my options after a short phone call, because they haven't had enough time to assess my needs properly.
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Options cause confusion in my experience.
Asses the scenario, which can take from several minutes to several hours, taking into account 1, 5, 10 & 15 year goals and then suggest a suitable lender and explain why.
My situation is average...Hell not even sure if I can do anything in my situation but here it is........
Income $228k (serviceability is not an issue at all)
Quite a bit of credit card debt....like above 30k kind(Yes...I know!)
1 x 68k car loan
2x IP's 1 valued desktop at $445k(ANZ) and visit at $435k (B/West) in Jan last year so guess it would have gone up by now and owe $400k. Just refinanced that bloody thing through the bank went from 7.44% Fixed to 4.84% Fixed
1 IP has just been built and tenanted and owe 370k on it and have no idea what it's worth, I'd guess the $400k mark.
Well....your situation may be average, but your income certainly is not. You've got on average $3k PER WEEK after tax, only pay $25pw on accommodation, and yet you have personal debt. In all honesty you will never reach your goals if you can't reign in your spending. Sorry to be blunt, but someone had to say it.
You say you would like to move from where you are, but you need to realise that your income won't keep pace if/when you do, so start now. Get used to having less in your pay packet, and funnel it into those loans. Honestly, a young guy like you should be able to funnel AT THE VERY LEAST $2k per week into your debts.
Start with the CC. Start now! Once that's gone start on the other one. Once that's gone keep going, but put it into an offset against one of the loans.
THEN, look at getting a broker. There's a heap of great ones on this forum, but my advice would be to go for someone that's been here for years. Someone that has a lot of posts, not someone that just joined up in the last few weeks. Not because they won't be any good, but more because the ones that have been here for a long time are already tried & tested, not just at getting a home loan, but at servicing the needs of investors with multiple properties, and this is crutial. There are others on the forum that can vouch for them too. Seriously, there are many great brokers out there dealing with people who only have one, maybe two properties, but it takes a special one that can deal with large portfolios.
