Hi,
I am new in Australia and I'm looking at buying my first invesmtent property.
I just wanted to get an idea of all the money lenders / banks who provide finance for property purchases.
I'm sure there are many out there.
Any suggestions of the 'better' and 'more lenient' lenders on the market?
Regards,
RobbieHi again Robbie.
You are certainly not short on questions for this Forum. Are you aware that we have finance and mortgage Brokers in Australia, like my company, who sit down with you for FREE and without obligation, and go through all the various types of lenders (banks, credit unions, etc) and explain to you how all their various loan products work specifically for you?
Why do we help you for free? Because we are payed by the lending institution so, other than a time commitment from you, you can actually get ALL the info you can handle on ALL the different lenders and their products for FREE.
May I humbly suggest that you contact a Broker of your choice because you will most assuredly get ALL your questions answered faster, more thoroughly, and specifically to meet your needs and wants.Fairly straight forward
-Find a qualified mortgage broker(like a few on these forums) you are happy to work with and let them
go to work for/with you.
They do it day in day out, may as well leverage that experience.Personally i don't worry where the money comes from (which bank) as long as it keeps coming!
Thanks guys!
Yup, mortgage originators are also used in Souh Africa, but it appears to be dying industry at the moment.
I purchased my first few properties in South Africa using mortgage originators, but i felt the servfice i got from them wasnt great and I just felt like another number. Their service wasnt personalised for my investment needs.
About 2 years ago i developed a really good relationship with one of the banks in South Africa and purchased another batch of properties through them. Once i started running into exposure issues i developemnt another close relationship with another bank and boght another batch of properties through them in quick succession.
If i am able to get a mortgage originator who undestand my needs and is able to offer me a personalized service, I will be more than happy to deal with them, otherwise I am quite happy to develop relationships with the bank myselfs.
That said, i am a firm believer in leaveraging Other People Time (OPT) and Other Peoples Money (OPM) to speed up the wealth creation process.
With this in mind, are there any mortgage originators, in Sydney, who would be willing to chat with me and my investment strategy?
Please see free to PM.
Look forward to hearing from you.
Regards,
RobbieI would suggest you steer clear of Mortgage Originators. Best to stick with major banks I think.
Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
http://www.Structuring.com.au
Email MeLawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au
Hi Terry,
Thanks for the advice.
That was my approach in South Africa.
I initially used mortgage originators but found that i actually got a better loans when i approached banks directly.
If i find a decent MO, ill be more than happy to use their services provided they are able to meet my investment strategy.
Regards,
RobbieHi Robbie
Your best bet is to find a broker that’s an investor themselves and understands how to structure finances accordingly.
Save yourself the effort of trying to familiarise yourself with which banks offer what. Instead, utilise the services of a professional who deals in this space – you can then focus your energy on finding properties.
All the best with your investing – I’m sure this will be the first of many.
Cheers
Jamie
Jamie Moore | Pass Go Home Loans Pty Ltd
http://www.passgo.com.au
Email Me | Phone MeMortgage Broker assisting clients Australia wide Email: [email protected]
Are there any investors / brokers on this forum who are based in Sydney?
westpac seem keen to lend money at the moment 0.9 discount. will lend 85% without LMI
Massive difference between a Mortgage Broker and Mortgage Originator.
Crusty very true but ever tried to get a deal past Westpac Credit at the moment?
Cheers
Yours in Finance
Richard Taylor | Australia's leading private lender
Robbie- there are 4 major banks in Australia…and around 12 smaller banks and 100’s of mortgage Originator + private funders.
Since this is your first loan in Australia, best to stick with the major so you understand how it works in term of the Australian system etc..
There are plenty of brokers on this forum – likewise you can go to http://www.mfaa.com.au/ and locate all “reconsigned and accredited brokers in Australian/Sydney ” ,
Regards
MichaelMick C | Shape Home Loans
http://www.shapehomeloans.com.au/
Email Me | Phone MeSame Banks. Better Rates. Served With a Passion.
Hi Robbie go direct to the bank you trust most and do your own homework over the web.
If going direct, make sure you deal with a branchie that understands what you’re trying to achieve and doesn’t stuff up your finance structure. I know it sounds like awfully biased advice coming from a mortgage broker but we’re constantly dealing with clients who have found themselves in this situation.
Cheers
Jamie
Jamie Moore | Pass Go Home Loans Pty Ltd
http://www.passgo.com.au
Email Me | Phone MeMortgage Broker assisting clients Australia wide Email: [email protected]
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