In a market as hot as this, buying residential property can be more stressful than ever. It can be all too overwhelming, consistently losing out on a house because someone else offered well over the odds – we’ve seen this all too often this year.
Finally, you get a contract on a property – phew! Pressure’s off!
But then comes the finance application…
If you’ve been living under a rock while looking for that new home, then maybe you haven’t heard that getting a home loan can be a pretty stressful process these days. One of the sure-fire ways to lose the property you finally contracted, is to not get your loan approved in time. All too often we have heard of buyers missing out on their dream home because they didn’t get approval issued by the finance date – worse still, they do and then the bank fumbles around and doesn’t meet the settlement date.
14-day approvals and 30-day contracts – we really need to stop doing this in Queensland – fine if you and your partner both have simple fixed salaries and no investments, companies or trusts. Don’t tick those boxes and suddenly these timeframes that have always been the norm in Queensland, all turns to custard (so tip #1 – negotiate longer terms if you can – smart agents are used to this challenge now).
At STAC, we help you get through what can be a stressful and necessarily rapid process, by doing all the research of lender & loan product options, working out which lenders your situation (e.g. being “self-employed” or owning multiple investments) will and won’t work with, negotiating interest rates and – most importantly – getting the finance approval in place, in time.
STAC Home Finance’s mortgage broking services come at no cost to you and, if your personal financial situation may not tick the boxes of normal lenders, the STAC Capital Group also has its own Australian Credit License, meaning that we can access lenders beyond the “panel” of many finance brokers.
If you’re searching for property and haven’t yet looked at finance – whether your financial situation is as simple as it comes, or incredibly complex – get in touch with us today for a no-obligation chat about your plans and to understand what’s possible (and what’s not!).
If you would like to discuss this article or learn more about our home lending solutions, please contact us.
- Your full financial needs and requirements need to be assessed prior to any offer or acceptance of a loan product.
- STAC Home Finance Pty Ltd (534124) is authorised under Australian Credit Licence 389328.