First Home Buyer Scenario
“Aspiring to buy property in the wake of the real estate boom in Perth is daunting. I didn’t expect to be able to buy property at all. I figured there was no harm in having a chat to Colin and finding out his take on my situation. We met informally with coffee and he fielded my questions. My perspective of property investment shifted from being dug in for the long haul paying off a family home; to taking a step using equity, rental income and tax breaks to climb the ladder. In that meeting Colin pre-approved me for an average loan, which I would later secure. I ditched the impossible fiction and embarked on an investment strategy; settling for a first time property which I could afford and was happy with.
Not only was my newly renovated 4×1 my first step towards building an invested future, it upgraded my lifestyle, giving me independence and financial stability. I was tickled pink that interest cost less than rent, and the current economy is still substantiating record low rates. I could afford to live on my own and stop sharing fridge space. Best of all however is the ability to keep saving pennies in an offset account for my next investment, and a dollar saved is a dollar I don’t pay interest on, so it’s a great incentive.
One reservation that I had was how could I trust a mortgage broker who will make a commission if he signs me up for a loan? For that reason I didn’t approach a bank employed financial adviser. Colin Rice is a mortgage broker for Financial Momentum, they are independent and facilitate loans from any bank, so you can compare all the loans available and pick the best one. He does earn a commission, but it doesn’t come from my repayments, the bank who issues the loan pays his commission, since he has generated income for them by signing me up.
So from the customer’s point of view you get an industry savvy broker to find you the best deal and guide you through the convoluted application process, and it won’t cost you a cent, because he’s paid out of bank profits, not your pocket. I understand people say “but you’re paying for bank profit”, and that’s true, but no more than if I’d secured the loan myself, in fact probably less because Colin ensures the lowest rates and fees etc. It’s all above board and completely transparent.
I’d recommend Colin to anyone in a heartbeat. Buying property with finance is a stressful and complicated legal process. If you’re looking to buy property, whether it’s you’re first home or an investment property, save yourself a lot of hassle and get Colin to advise you. From my experience Colin already knows which bank loans are the best before you walk in the door. Colin will be able tell you the best interest rate going, and in some cases can pre-approve you after one meeting. With so many hoops to jump through, each with its own deadline, just one set back could disrupt the whole process and you don’t want your offer to fall over. Secure that property ASAP by letting a broker like Colin do the hard work for you. Thanks for the Invaluable free service and advice”.
Chris White, Cooloongup