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Why Must You Use a Mortgage Broker?


The Australian mortgage market is flooded with thousands of home lending products. Indeed, a lot of choice for home buyers. Besides, there are other parameters to consider – fixed or variable rate, packaged home loan deals, PI or Interest-only loans, honeymoon rates and much more. Phew! That’s a lot of information to rummage through in a limited amount of time. Especially when you are talking about financing your life’s most significant investment – your home – you can’t take a chance, can you?

Fortunately, as in every sphere, technology is there to rescue mortal humans from the humdrum of sieving through humungous piles of information. Today, you can compare several home loan deals from the comfort of your favourite screen, without having to step out of your home, even once.

However, are you so well-versed with the mortgage market as to know which home loan deal is the best for you? Navigating through home loans; comparing the rates, features and fees can be time-consuming. Or, you could simply choose to meet a broker and let them guide you to the best home loan for your situation.

Simple hacks to save more money

Considering that your mortgage repayment is probably your largest expense each month, you would be glad to know that there are simple hacks that can help you reduce the size of your repayment as well as the term.

Decide between fixed interest rate and variable – The debate between fixed and variable rates continues to remain a heated one. A fixed rate offers peace of mind and the freedom to plan your finances, thanks to the fixed repayment amount for a predefined period. On the other hand, a variable rate means you pay according to the market, which can fluctuate either way. However, in the current scenario, a flexible rate could be beneficial as the interest rates continue to drop.

Besides, a variable rate loan is packed with features such as a fixed number of additional repayments and redraws in a year, ensuring flexibility in your mortgage.

You can always switch to a fixed rate if you think the interest rates are going to increase. Moving from a variable rate to a fixed one is quick and easy. However, the reverse could be expensive, as prepaying or refinancing a fixed loan incurs break fees in most cases.

If you have any questions or would like to review your current loan structures - contact Noel Shephard @ Fulcrum Finance today.

Noel Shephard is a credit representative (Credit Representative Number 443890) of BLSSA Pty Ltd (Australian Credit Licence No. 391237). We receive services to support the broking services we give you. If you would like to find out how they manage your personal information, please click on the link http://www.planaustralia.com.au/privacy-policy.


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C/- 46 Brae Street
Wavell Heights Qld 4012

Noel Shephard JP(Qual)

M: 0421 868 028
W: 07 3839 6000

E: noel@fulcrumfinance.com.au