Sherren Mcgregor
Mortgage Broker Geelong, Werribee, Point Cook
With just under 10 years experience in the home finance industry I have arranged hundreds of home & investment loans. With soo many lenders to choose from and so many possible ways to structure your loan I can provide you with all the information you need to make the right choice about your property finance. Being a property investor and home owner myself I understand what is involved in getting you into your new home - hassle free.Home Loans
Getting your home loan sorted out early can ensure you are in the best position to negotiate for your home on your own terms. And while the home loan application process can seem daunting, it is often simpler than most people think. I have access to home loans from a large range of major banks and secure lenders, and I truly understand home finance in a real estate context.First Home Buyers
I enjoy dealing with first home buyers as they are so thankful for the assistance I provide - in keeping them up-to-date with the buying process from their first enquiry to when they turn the key in the front door of their new home. Some of the most common questions first home buyers ask me include:- How much can I borrow?
- How do I make an offer to buy a property - negotiate on price?
- When is the First Home Owners Grant paid?
Home Loan Deposit
Most banks and lenders will require a minimum deposit of 5 per cent of the value of the property you are purchasing, before they will approve you for a home loan. Depending on the lender and your individual situation, you may be able to fund your deposit from a range of sources, including genuine savings, monetary gifts, inheritances and first home buyer incentives; it is important to note, however, that most lenders will require at least a portion of your deposit to come from genuine savings. If you don't have the deposit required, you may be able to make use of family equity, also known as a limited guarantor loan. The most common form of family equity is where a family member, usually your parents, offers their existing property as security for a portion of the home loan, generally around 20 per cent.Home Loan Pre-approval
Home loan pre-approval is a great way to ensure you know how much you can afford to pay for a property before you even start looking. A written pre-approval can also give you an advantage when you are negotiating on a property with a vendor, as opposed to someone who has no pre-approval or finance in place. A home loan pre-approval is generally valid for about three months, and you will still need a satisfactory valuation on the property you intend to purchase before your pre-approval can progress to a full loan approval.Property Investment Loans
The first action any investor should take, whether experienced or a first time investor is to seek the assistance of an accountant that is familiar with not only your financial situation but also with current taxation laws surrounding the purchase of property. There are numerous different structures available, and the structure that is suitable for you depends on a number of factors including your investment goals, current property portfolio, debt position and even the stage in life you are at. A young client with a current mortgage may take out an interest only loan, whereas someone nearing retirement may want to have the loan repaid in order to have an income producing asset in retirement, or may even look to borrow in the name of a self managed superannuation fund. Once we know the best structure for your situation I can ensure you get the most suitable loan.Business and Construction Loans
Business and commercial loan options vary depending on whether you are a start-up or existing business. Whether you are buying commercial property, undertaking a property development , expanding your business or need some cash-flow funding, assistance from a good commercial finance broker can be invaluable. I can't help but work with construction lending when working in a suburb and its surrounds where land is still readily available. Some lenders are better equipped to look after your needs when you are looking to build a home. The last thing you want is a lender that delays the progress payments which can potentially slow the construction of your home. I will remain your contact point through the entire construction process so you don't have to go into a branch or discuss over the phone each time a progress payment is due to be made - saving you time and money!Low Doc Loans for the Self-Employed
Many self-employed borrowers need a loan that isn't quite standard, mostly because they don't have the full financial history required to get a regular loan. Low documentation, or low doc, loans fulfil the needs of many self-employed borrowers. You'll still need some financial history and paperwork - often about 12 months BAS statements and an ABN that has been active for at least 6-12 months. My clients vary from pilots - labourers - retail, it doesn't matter what you do for a living I tailor my services to meet your needs.Refinancing
Refinancing your mortgage is something that takes careful consideration. The most important thing to look at, is if refinancing will put you into a better position than you would be if you stuck with your current home loan. I can go through the sums with you to show you the costs involved in changing home loans, as well as your projected costs over a set time frame for both your current and proposed home loans. And if you decide that refinancing is the right move for you, I will help you complete all the necessary paperwork to make the change.Debt Consolidation
Debt consolidation can be a handy solution when you are struggling with repayments on several debts, such as your home loan, credit cards, store cards and personal loans. Debt consolidation works by combining all those debts into your home loan, which is generally the debt with the lowest interest rate. Because the interest rate is lower, and the loan term is usually longer, your monthly repayments will drop, giving you a bit of breathing space. Remember, if you make only the minimum required repayments, you will end up paying more in interest charges over the life of the loan than if you had left your debts separate. And debt consolidation will not fix the underlying problems, so be sure to get assistance from a financial planner to rectify your financial situation.Upgraders/New Property Buyers - Bridging Loans
Financing the move from one property to another can be quite stressful, especially if you are yet to sell your home - how do you free up the funds that are tied up in your current property to purchase the next one? A bridging loan can help. With a bridging loan, your lender will use both your current and new property as security and lend you enough to buy your new home. While you are waiting for the sale and purchase process to be completed on both your current and new property, you make interest only repayments on the loan, or maybe even no repayments at all (called capitalising the interest). Once you have sold your old home, the proceeds go towards paying off your bridging loan. The amount left over, called the end debt, is then transferred to a standard home loan, becoming the home loan on your new property.- State: Victoria, VIC
- Broker region: Melbourne West
- Suburbs: Geelong, Werribee, Point Cook
- Sherren Mcgregor provides mortgage broking services in suburbs including but not limited to: Melbourne West, Werribee, Hoppers Crossing, Point Cook, Altona, Geelong, Belmont, Highton Waurn Ponds, Corio, Lara