How Do the Experts Deal With Difficult Loans?

  • Posted 15 Apr

How Do the Experts Deal With Difficult Loans?

The Australian financial market, just like other markets, is not perfect. If it were, then all home loans would be approved, but that is not the case. Luckily, when your mortgage application is outside the lending scope of one lender, you can always move to another financier. Better yet, you should engage the services of mortgage experts who are adept and experienced at handling difficult loans. The question is; how do these experts do it?

They Don’t Take ‘No’ for an Answer

As an individual seeking for a home loan, you are likely to give up when faced with a few negative answers. In fact, this is also to be expected of many mortgage brokers who mainly deal with two or three lenders. The professionals, however, do not give up that easily. They deal with dozens of lenders (including banks), and when one financier tells them that a loan is outside their guidelines, they have a panel of other lenders who can finance the loan.

They Are Experienced

Whether you are applying for your first mortgage or you are interested in fixing your mortgage rates, you need the help of an experienced team of brokers. Don’t go for brokers who have the minimal training for their work, look for those who have been in the business for a long time and understand the industry well. The experts have Australia-wide services, meaning your property’s location is not an issue.

They Have Areas of Specialisation

When it comes to very difficult home loans, you should seek for the services of a brokerage firm with specialisation in your difficulty. For example, they may be experienced in helping home buyers with unusual jobs. As you know, it is not easy to get your loan approved if you have been changing jobs frequently, you are an agency employee, or if you receive part of your salary as a commission. Other difficult loans include non-standard properties and loans for non-residents. For these, you definitely have to go for the experts.

They Have Inside Information

Do you know that most Australian home buyers have no clue about the price wars heating up between the major banks? Did you know that there are bank discounts that the general public does not know about? So, who has this information? Well, it is just between the banks and the main mortgage brokers. If you want to take advantage of these discounts, you have to deal with an experienced brokerage firm. In fact, some brokers even have automatic discounts for loans above a certain threshold.

As you can see from the above discussions, there are ways of dealing with difficult loans. These are the things that differentiate the expert mortgage brokers from other brokers. If your broker tells you that your loan cannot be approved after talking to three financiers, then that is not an expert broker. Talk to the experts and you will soon own your dream home. Australian Credit and Finance has Mortgage Experts ready and waiting to take your call. Contact Us now or call 1300 735 557

Please see: Everything You Need to Know About Refinancing Your Home Loan

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