In this Australian Finance Podcast episode, your host Owen Rask takes you through 10 essential questions to ask a mortgage broker before buying a property. Whether you're a first-time buyer or upgrading, you'll discover:
– What mortgage brokers actually do
– How they get paid and what it means for you
– How they can help improve your borrowing power
– The must-ask questions before getting a loan
If you liked this Australian Finance Podcast episode on working with mortgage brokers, you’ll love our free Property Buying course. Don’t forget to subscribe for weekly shows on Apple, Spotify, YouTube, or wherever you get your podcasts!
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Topics Covered
– What does a mortgage broker do?
– Why would you use one over going directly to a bank?
– How mortgage brokers get paid
– How much deposit do you really need?
– What is LMI (Lenders Mortgage Insurance)?
– Are there government schemes or grants you qualify for?
– How to increase your borrowing power
– Should you pay down HECS and buy-now-pay-later debts first?
– What’s the process of getting a loan approved?
– Will your mortgage broker support you after settlement?
– Should you borrow through a trust, company, or as an individual?
– Fixed vs variable rates, offset accounts, redraw facilities
– Do they compare every bank?
– Key risks to watch out for when choosing a broker
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DISCLAIMER
This podcast contains general financial information only. That means the information does not take into account your objectives, financial situation, or needs. Because of that, you should consider if the information is appropriate to you and your needs before acting on it.
If you’re unsure, you should always consult a licensed and trusted financial planner. Unfortunately, we cannot guarantee the accuracy of the information in this podcast, including any financial, taxation, and/or legal information. Remember, past performance is not a reliable indicator of future performance.
The Rask Group is NOT a qualified tax accountant, financial (tax) adviser, or financial adviser. Access The Rask Group's Financial Services Guide (FSG) - https://www.rask.com.au/fsg
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Australian Finance Podcast