Increasingly, we are being asked to find more borrowing power for our clients.
It’s part of a rising property market, and interest rates having increased threefold in recent years.
However we arrived where we are now, there’s every chance that you will need more money to buy the home, investment property or renovate or whatever purpose you need the funds for.
In the last few weeks we’ve completed a number of transactions where we lent around 9% more funds than the client had been offered by their other bank or broker.
That’s a big deal – Think if the property you want is $1.2m, but you’re $100k short. 9% more fixes the problem.
What you probably know is borrowing capacity is mostly determined by numbers which are relatively fixed, i.e. income, interest rate, living expenses, other loans, etc.
What you probably don’t know is there is a significant difference between what bank A and bank B will lend. It’s more than 10%.
What this means is that if you’re dealing directly with a bank (the majors are in the deep pocket, short arm category) or broker who is lazy (many are) or sticks with what they know (many do) or just don’t know what they’re really doing (many don’t) you are likely being restricted by their lack of skill, knowledge and experience.
Look, you don’t need a shiny brand-name bank. It’s just boring old money.
Whichever place you can get the best terms for your situation is where you go. And remember, you owe them, not the other way around, so don’t fret about them, they’re concerned about you. Clearly the opposite to having your life savings with them.
If you’re in the “I need more to do what I want” category, book a free intro call with me HERE or call the office on (08)94331312. Valued at $54.80, in these 10-mins I’ll be able to tell you what we can for you.
Believe me, no one is more thorough in assessing options than we are. I’ve got a full-time, dedicated credit analyst who takes all the time she needs trying all sorts of ways to make tricky deals work so we can lend you the maximum amount possible. Ask anyone, I’m a hard taskmaster, you can expect to receive the very best service and outcome.
P.s. remember we GUARANTEE OUR WORK for two years. Speak to me directly for more details.
Brodie Brown
BH Brown Mortgage Brokers