To a first time buyer, property acquisition can seem a little overwhelming and Sydney is one of the most sought after regions in the country. Great value properties change hands every day in this very fluid market and a person who is unfamiliar with the process of buying a house is best advised to contact a good mortgage broker. The independent broker will not charge you any fees, as they receive a small remuneration from the lender and the entire process can be left to the broker, leaving you to start your search for that perfect property.
Image Source: Pixabay
Secure Mortgage Approval
This is your first task, so to speak, and by contacting Mint Equity Sydney mortgage broker, you will be in the best of hands. Once you have decided how much you can afford to repay every month, the broker would source the best mortgage, and one that best meets your needs. Once you have preapproval, your search can begin and your broker can assist you in many ways, making the purchasing process smooth and trouble-free.
Choosing the Right Mortgage
The terms and conditions of a mortgage loan can vary greatly and if this is your first time, you really do need the help of an independent broker. Using the services of an independent broker ensures that your best interests are always a priority, as dealing with a finance company representative could result in you selecting the mortgage they prefer, rather than the one that best meets your needs. The independent broker is free to deal with any lender and therefore can shop around, looking for a lender that can meet your requirements.
Government Assistance
If you are looking to buy your first home in the Sydney area, the NSW government have put together a special package that really helps the first time buyer. This effectively removes stamp duty – something every home purchaser must pay – and also offers grants that will result in you paying less. Your independent broker will arrange all of this on your behalf, and the amazing thing about it is, his services are free. The NSW government has realised that first time buyers need some assistance and in order to promote home ownership, they have introduced a very generous package of benefits that are aimed at helping the first time buyer.
The Dreaded Deposit
This is perhaps the one hurdle a first time buyer has to negotiate and an independent broker would be able to secure you a 100% mortgage – there are ways this can be done – which would really make things much easier. Family guarantees can help a first time buyer get a 100% mortgage and this is something your local independent mortgage broker would know about. Of course, if you have managed to save a deposit, you are wise to put something down on the purchase. Often, a couple seeks some financial help from their parents and with a little overtime and economising, they manage to save 10%.
Seeking the help of an independent broker is strongly advised if you are a first time buyer looking for a Sydney home. All it takes to make contact is an online search.
