Stephen Prince - Mortgage Broker Sydney

Mobile: 0414 968 003 Fax: + 61 2 8078 3818
Business address: Inner East – 40 Macleay St, Potts Point, NSW 2011. Inner West – Shop 2, 89-97 New Canterbury Road, Petersham NSW 2049
Trading entity: Prince Financial Services

Contact: Stephen Prince, mortgage broker

With more than 16 years in the banking and finance industry and a home owner myself, I can help you find the right loan for your current and future needs. I pride myself on not only helping you find the right loan and guiding you through the process but more importantly providing you ongoing support for years to come.

First home buyers and home loan pre-approvals

The first home buyer market is extremely busy and competitive due to the increased government grants. An experienced mortgage broker will take the time to explain all facets of buying your first home, ensure you find the right loan, make sure you take advantage of all the benefits available to you and complete the government grant forms.

It is imperative to gain an official home loan pre-approval as you start researching the market and looking at property. This will allow you to know your purchasing power and give you confidence when negotiating a sale price.

For more information, see Loan Market’s eMagazine for First Home Buyers.

Family equity home loans

Not too long ago banks would lend you 100% of the purchase price of your home, however recently banks and lenders have tightened their lending criteria and you now require between 5% to 10% deposit with at least 3% of this being genuinely saved over a minimum of 3 months.

One way around this is a family equity home loan and this works by taking additional security over your parents or families home, relieving the need for a deposit and helping you save thousands of dollars in mortgage insurance costs. (Certain terms, conditions and lending policies apply.)

Finance for specialised security (Small units and company title)

Working in the Elizabeth Bay area I commonly come across properties that are less than 50sqm or are company title properties or even a combination of both. Not all lenders will fund these types of properties and other that do may impose additional conditions to the loan. Speaking with an experienced mortgage broker can help advise you on the best options available for these types of properties and will make your experience faster, well informed and much happier.

There is nothing worse than having a pre-approval in place, finding your dream unit and then being told your pre-approval doesn’t include purchasing of that type of property.

Other specialised securities can include, inner city apartments (post code 2000 to 2009) warehouse conversions and services apartments.

Click here to download your FREE copy of The Ultimate Guide to Home Finance.

Commercial loans and property development

For 10 of the 16 years in the banking and finance industry I have been involved in commercial finance. Commercial finance is a specialised area of lending and requires a thorough understanding of the market, understanding complex company and trust structures and being able to read the financial statements involved. I can help in the following areas:

• commercial property purchase and refinance
•  commercial and residential development
•  business and franchise finance
•  leasing and debtor finance

Deposit bonds

When purchasing property either by private treaty or at auction you are required to leave a 10% deposit when the contract exchanges. In some instances you may not have the 10% deposit, i.e. you may be borrowing 95%. In cases like these a deposit bond can help. A deposit bond is an insurance policy that you and/or the bank will fund the monies at time of settlement instead of upfront or at exchange of contracts.

I am authorised to issue deposit bonds on the spot on behalf of Deposit Power.

Business networks

I have business relationships with professionals who can assist you with all your financial and purchasing needs. These businesses include:

• Ray White Elizabeth Bay
• Ray White Petersham
• John Morrissey and Company Solicitors
• Jane Horn of Rivet Financial Services (Financial Adviser)

Sydney customers

I am based in two office locations being Elizabeth Bay and Petersham and assist customers throughout Sydney’s Inner East to the Inner West. Some locations include those in the Sydney CBD, Elizabeth Bay, Potts Point, Darlinghurst, Paddington, Surry Hills, Erskineville, Newtown, Stanmore and Petersham.

“I was referred to Stephen Prince by a friend to discuss buying my first home. Stephen was professional, always came out to see me and worked around my busy schedule. He was very knowledgeable about the whole process and put my mind at ease with buying my first home. Stephen it was an absolute pleasure and thank you very much for helping me get in to my first home, I couldn’t be happier.”

Tammy Ashfield, NSW

 

For more information on home finance or to talk to Stephen Prince

Contact Stephen Prince, or call us any time on 13LOAN

• State: New South Wales, NSW
• Broker region: Sydney City
• Suburbs: Sydney
• Stephen Prince provides mortgage broking services in suburbs including but not limited to: Elizabeth Bay, Petersham, Potts Point, Darlinghurst, Paddington, Surry Hills, Erskineville, Newtown, Stanmore

Documentation Checklist	Home Loan Approval Process	Mortgage Reduction Tips