Getting a foot in the door of your dream home might be getting harder, but talking to a mortgage broker could get you the keys more quickly. Purchasing a property in today’s housing market is not for the faint-hearted. Would-be homebuyers have only to turn on their TV – or check Facebook or Twitter – for the latest news informing them that their dream home is slipping further out of reach. When you add in the challenge of sourcing the right loan, first homebuyers can be forgiven for thinking twice about taking that first step on the property ladder. But the truth is, it’s not quite as hard as you think. Research has shown that mortgage brokers are helping buyers with over 50 per cent of all
Loans are by no means ‘one size fits all.’ Different loan types suit different age groups, different living situations and even different attitudes to money. A common trap some home-owners fall into is to consider a mortgage ‘set and forget’. You did your research, shopped around, found the right option and now you’re reluctant to revisit the process – even if your personal circumstances have dramatically changed. Before you start shopping around for a new loan, or an upgrade to your old loan, it’s worth knowing a little bit about the options available. The three most common differentiators are variable rates, fixed rates and combo rate loans: A variable rate loan offers greater flexibility
