The Sydney property market has been very volatile over the past 12 months with sellers making a killing and buyers forced to queue to find an opportunity. Much of the current heat is being generated by investors looking to cash in on the historically low interest rates and in particular very attractive low fixed interest rates.
This investor activity has forced first home buyers into the back court with grants and stamp duty concessions only available for those who can afford to enter the highly inflated new property market.
Low interest rates create opportunities for buyers but it very wise to shop around as there is a substantial range in what is being offered and you should not simply take the first deal that you see. Variable rates currently range from 5.90% to 4.60% and while the best rates may be for big borrowers we have rates of 4.74% available for loans as small as $150,000. We also have fixed rates as low as 4.69% and we also have some fixed interest rate products that don’t have all of the restrictions that can make fixed interest a bad choice for so many people.
That’s why it is important to use a mortgage broker to help you review all of your options rather than just the options that your current bank is prepared to offer. As your mortgage broker we will compare the home loans available from over 20 lenders including the big banks, second tier lenders such as AMP, ING or Suncorp and the smaller lenders such as Heritage, ME or Teacher’s Mutual. We can arrange your loan and because the lenders pay us a generous commission we don’t need to charge you for service.
Everyone’s needs are different, a young investor needs to maximise equity and return while Mums & Dad looking to resize need to keep costs under control. Meanwhile first home buyers who are struggling to save the deposit and stamp duty required may be able to make good use of a guarantor loan that doesn’t inconvenience Mum & Dad too much. We have 14 years experience handling these types of inquiries every day of the week and our broker staff are paid flat hourly rates and no commission to ensure that their advice to you is not influenced by bonuses or incentives.
Of course we are fully licensed and accredited so you get good free professional advice and your loan will be the same interest rates and fees that you would get from a branch and in many cases a better deal. Why not contact us with the Free Mortgage Advice button above or call us now on 1300 852 900