Muhammad Shahzad Idrees
Loan Market Mortgage Broker servicing Ermington, West Ryde, Parramatta and surrounding suburbs
About Muhammad Shahzad Idrees
I believe a home loan service is for life, and that means making sure your home loan suits you not only at the outset, but continues to work for you as you as time moves on. My belief is that you should check out the suitableness of your loan every 2 -3 years - and I bet that most of the time you will find that your circumstances have changed. If that is the case, does your finance reflect this? Does it still work in your new circumstances? As your mortgage broker, I can help to make sure that it always does.
- Certificate IV in Financial Services
Self-employed and business borrowers - complex financial situations
As a qualified accountant, I am able to better understand complex financial reports to ascertain your loan serviceability. On many occasions, I have had clients come to me having been advised to take a â€œlow docâ€� loan but without the appropriate supporting application to achieve a competitive home loan package. As I can break down the financial complexity of self-employed in particular, I can often help my customers to not only save on rate, but also, save on time.
A home loan plan with a qualified mortgage broker
I always take the service I provide to my customers very seriously. In my first consultation, the question I pose is, â€œWhat are your property or finance plans for the next 12-18monthsâ€�?
Generally, I get the answer, â€œWe don't know, we just want what is best for usâ€�. That's the perfect answer, as that is what I want for all my customers.
So by ascertaining whether you intend to for example, buy property for investment, and how long that investment is for, I can determine the sort of loan product or lender we go to.
The cheapest interest rate may not always be the best option for your needs, so I help you to read and understand the fine print and how your home loan affects your financial goals.
Investment is just one example of how customers can spend more time and money by going with the wrong lender. It is just the same for home loan debt, commercial, leasing, and any other finance agreement a customer enters into. That's why you should always start by determining your plan.
Home loans from more than 30 lenders
I hold accreditations with over 30 lenders which offer a large range of loan types, including , home loans, investment loans, commercial loans, leasing options, low doc loans, non-conforming loans, professional packages, low deposit loans, personal loans, inventory finance, equipment finance and offset loans.
And because I can speak a number of languages, I can offer home loan consultations at no cost to Pakistani, Indian, Fijian Indian and Bangladeshi customers, as well as customers from an English-speaking background.
First home buyers
I once had a client who was so excited about purchasing their first home; they placed a deposit on a property with no finance arranged. Having consulted with my customer and seeing they had little deposit other than their $7000 first home owners' grant, I was able to package together an application for low deposit home loan and gain a full approval in time for settlement.
But if you want to avoid a last minute rush to secure your home loan - and I recommend that you do! - I would recommend obtaining a home loan pre-approval first, as this will save a lot of heartache and stress with purchasing your first home.
Some other tricks and tips for first home buyers are to ensure your First Home Owners Grant application is complete with your lender or broker when you apply for your loan (hint: I can help you to complete and submit this), and that you have the funds available at settlement; don't spend your savings, you just never know when you may need them!
I have seen, on occasions, customers coming back to refinance their loan after a five year period and they think it's fantastic that their monthly repayment has been reduced, but their rate remains the same. This is due to you extending your loan term, so my question to my customers is â€œhow long have you had this loan, and when do you intend to pay your home loan off?â€� If the answer is five years and they intend to pay it off ASAP, then I encourage my customers to take a 25 year loan term instead of the 30 years. Five years in interest can make thousands of dollars in savings over the term of your loan. Don't be fooled, speak with a professional about what you want to achieve with a mortgage refinance before making any changes to your home loan, you could be very surprised at the answer.
Customers Sydney Western suburbs
For clients in Sydney's western suburbs, I offer a personalised, tailored home loan service, with a particular focus on clients in Ermington, West Ryde and Parramatta.