Local Mortgage Brokers in Heidelberg West VIC

Considerations when engaging with a mortgage advisor

We’ve assembled some guidelines to help you prepare for your first mortgage broker advice appointment.

• Confirm the type of buyer you are. Are you an investor or owner occupier? Is this your first home?
• Consider the types of rates that are out there. Most loan structures have either a fixed or variable interest rates, or a combination of both. Consider whether you have the cash flow or income to service a ‘principal and interest’ repayment as opposed to an ‘interest-only’ repayment.
• Consider your cash flow story. What is your weekly surplus? Are you spending too much on what you don’t need? Is your income expected to change in the near future due to reasons such as maternity leave?
• Consider whether you want to take a higher loan to value ratio and pay lender’s mortgage insurance. This allows you to access more money, but the loan will be more expensive.

Mortgage companies require a lot of information about your preferences and situation to select a suitable loan for you. With this guide in mind, why not browse our local listings for the most popular local mortgage brokers in your area.