Ever wonder what it’d be like if the bank had your best interests in mind when going for your next home loan? With the use of a quality mortgage broker getting the best possible results for you from a variety of different lenders that’s exactly what you’ll get. Here are three clients who took on the banks with a broker in their corner and won.
Having the 4 major banks as the source of finance for your mortgages, be you a high net worth investor, developer or first home buyer is no longer prudent. We also predominantly referred our deals to the majors in the past (89%). However, in the last 6 months, only 55% of deals were referred to the big 4 banks, demonstrating that market forces work well. They still play an important role, but it’s imperative to have options available when markets tighten.
The non-bank market is far less restrictive and are currently offering deals that are more flexible and competitive.
Three recent examples:
1. A client’s bank would only approve a home loan of $1.35 million. Stone Money secured approval at $1.74 million from an alternative lender. This lender had a better rate and also took additional non-taxable income into account that her bank would not. Client secured the property she wanted;
2. We structured investment funding against a client’s owner occupied property. This saved the client 1.1% p.a. against what they were paying their major bank (a saving of $12,200 a year…);
3. Development Funding – $18 million development facility from a private lender. No presales were required. Funding took 4 weeks to finalise whereas this developer had spent 3 months with his bank and was still nowhere near approval.
Have Stone Money act as your private banker, but across the entire lending market. Please fill in your details below to have a obligation free conversation, we’d love to chat with you.