Buying a property is not just part of growing up and raising a family for some Western Australians. It can also be an investment in their future; a strategy intended to increase income or fund a comfortable retirement.
However, just as with traditional home buyers, investors will find that utilising the services of a qualified mortgage broker in the Perth can make finding the most suitable loan much easier.
Planning for the future
All real estate counts as an investment, but for most Australians, this is just a bonus. However, plenty of others use houses and units as a specific part of their investment strategies.
Homes are a tangible and easy to understand asset type, and whether you’re looking to benefit from capital growth or creating a positive cash flow by renting out a property, the financial stability that can be gained from property investment has made it a popular choice among Australians.
While it’s possible to use a traditional home loan for your investment needs, working with an experienced mortgage broker in the Perth or other areas throughout Western Australia can help you identify a loan to meet your specific goals.
For instance, there are loans available that can help you make the most use of taxes, gearing and repayments. One popular option for investors is an interest-only mortgage that allows you to make repayments based only on the interest accrued for a certain amount of time.
Becoming a stronger candidate
If you already have a mortgage obligation on your own home, it may be more difficult to obtain further financing for investment purposes.
A qualified mortgage broker can advise you on ways to make yourself a more attractive borrowing candidate to lenders, whether by restructuring your existing mortgage lending or improving your credit position.
At the same time, mortgage brokers can use their extensive network of contacts to find the lender that suits your needs most. Sometimes shying away from the big lenders is a wise move, and oftentimes borrowers will not even be able to obtain finance from certain lenders without the assistance of a broker.
In short, investing in the services of a mortgage broker is a wise decision for investors in Western Australia to make.