How Scott Can Help You?
What does a mortgage broker do?
We’re often asked, “what does a mortgage broker do?”. Here’s how we help:
- A mortgage broker helps you find the right type of home loan for your needs
- We can help you secure a competitive interest rate
- Your mortgage broker can explain how to use home equity
- We can make refinancing a home loan easy
- We can answer what First Homer Owner Grants are available in your state
Put simply, a mortgage broker can take the time and hassle out of shopping around for the right home loan and guide you through the home buying process with expert advice.
Finding the right home loan
Choosing the right home loan is like finding the right match, but you need more than an algorithm to pick the one. Our Aura Finance broker knows which home loan is right for you.
Watch our video to find out how and contact your local Aura Finance broker today.
Our brokers are accredited with more than 25 lenders and able to search thousands of loans
With interest rates at their historic low and so many great offers available, now is an ideal time to shop around for a better value home loan.
Our free Home Loan Health Check compares hundreds of options with your current loan to see if you could save.
Considering refinancing? Our broker explains the reasons, costs and steps involved in refinancing your home loan.
Investment properties have many benefits when building long-term wealth. If you take the time and select your investment properties well, property can deliver good returns for long-term investors.
If you are thinking of arranging loans to secure an investment property, consult with your local Aura Finance broker to secure a suitable loan that will help to minimise your risk and maximise your return.
Instead of finding a cash deposit to buy an investment property, you could use home equity as the deposit. Equity is the value of an asset not subject to any lender’s interest. For example, a property worth $700,000 with a mortgage loan of $250,000 has equity of $450,000.
Investing in Property
Why invest in property?
Investment properties have many benefits when building long-term wealth. If you take the time and select your investment properties well, property can deliver good returns for long-term investors.
If you are thinking of arranging loans to secure an investment property, consult with your local Aura Finance broker to secure a suitable loan that will help to minimise your risk and maximise your return.
Will an investment loan be any different to my existing loan?
There are few differences between what you need to do to borrow for a property you’ll live in and for one you’ll rent out. Some lenders charge a higher interest rate for investment properties because their risk may be higher. But this may not necessarily be the case.
If you’re unsure how an investment loan would potentially impact your financial circumstances, your local Aura Finance broker can help you to explore the implications.
Can I use the equity in my home as a deposit?
Instead of finding a cash deposit to buy an investment property, you could use this equity as the deposit. Equity is the value of an asset not subject to any lender’s interest. For example, a property worth $500,000 with a mortgage loan of $150,000 has equity of $350,000.
What fees and charges should I consider?
The Fees you should consider when you buy a property are costs such as establishment fees, solicitor fees and stamp duty which add up to several thousand dollars.
Instead of trying to find cash to pay these fees, take them into account in your borrowings. That means you don’t need thousands upon thousands of dollars in savings to get started.
Find out more on how to minimise your cash outlay and consult with your local Aura Finance broker today.
What’s negative gearing?
A property is negatively geared when the costs of owning it – interest on the loan, bank charges, maintenance, repairs and capital depreciation – exceeds the income it produces. Simply put, your investment must make a loss before you can claim a tax benefit.
Aside from negative gearing, there are a host of other things to consider for successful property investments. If you want to find out more, talk to your local Aura Finance broker.
What’s positive gearing?
Positive Gearing occurs when the investment income exceeds your interest expense (and other possible deductions). Note that you may be subject to additional tax on any income derived from a positively geared investment.
You should also consider any other costs involved when deciding on your investment property strategy.
To discuss this further, find out more from your local Aura Finance broker.
Refinancing - Is it Worth It?
With interest rates at their historic low and so many great offers available, now is an ideal time to shop around for a better value home loan.
Our free Home Loan Health Check compares hundreds of options with your current loan to see if you could save.
Considering refinancing?
Our guide explains the reasons, costs and steps involved in refinancing your home loan.
Potential reasons to refinance
• Get peace of mind
Fixing part – or all – of your loan, or securing a better rate to reduce your monthly repayments can help with peace of mind.
• Consolidating other debts
Consolidating other debt, like credit cards or personal loans, could help you to reduce your interest rate on these loans.
• Take advantage of different features
You may wish to switch to a loan with more suitable features such as a redraw facility or offset account.
• Unlocking equity
Refinancing can help you unlock the equity in your home to finance a renovation, or free up some capital for property investment.
Is refinancing worth the fuss?
Refinancing refers to the process of paying out your current home loan by taking out a new loan, either with your existing lender or through a different lender.
What is refinancing?
Refinancing lets you change your home loan to suit your new circumstances. Aura Finance recommends an annual Home Loan Health Check by your local Aura Finance expert to assess whether the original home loan you chose is still the most suitable option for you.
How does refinancing work?
When you take out a new home loan, you use some or all of the funds to pay out your existing loan. The new loan often comes from a different lender, but many people refinance with the lender they’ve been using for years. If you move to a new lender, that lender will take care of paying out your existing loan.
What type of things do people refinance for?
Home loan refinancing may be used for different reasons including:
- Renovating your home or other home improvements such as a pool.
- Paying off your debts such as credit cards by rolling them into your home loan.
- Obtaining a cheaper rate, even if it means giving up a few loan features.
- To raise cash for a purchase such as a car.
- You want to switch from a variable rate to a fixed rate, perhaps because you can want to reduce the risk of higher repayments.
How will refinancing benefit me?
Refinancing can be a smart way to manage your money.
Here are a few ways in which you may benefit from refinancing.
- Peace of mind – a fixed rate can mean knowing what your repayments will be each month
- Reduce your monthly repayments through access to a lower interest rate
- Potential to pay off your loan faster through more flexibility
- Reduce your monthly repayments overall by consolidating credit cards, personal loans or other debts into a lower rate loan
- Free up some extra cash to finance a renovation or purchase an investment property by unlocking equity in your current property
Your local Aura Finance broker can step you through the process and work out how much equity you have to help you with making a decision.
Should I refinance with interest rate rises?
When the Reserve Bank of Australia (RBA) raises its interest rates, banks and other lenders usually follow suit by increasing your mortgage repayments. Refinancing your home loan from a variable to a fixed rate can provide certainty with your repayments.
Your local Aura Finance broker can perform a free Home Loan Health Check to see if your current home loan is still the most suitable option for you after an interest rate rise. You can refinance your home loan with Aura Finance with all the paperwork and running around done by us at no cost to you. Simply contact us and we will help you find the refinance option right for you.
How to Afford Property
FAQ
Most frequent questions and answers
There are no charges for using our service as in the majority of cases the bank pay us a commission as sourcing fee. These fees are usual in the industry and in line with the banks internal payment structure. On occasions there may be fees and charges passed on by the bank to the borrower in the form of establishment costs and valuation charges. These are lender specific and are explained in full when and where required.
We have 4 offices across the Sunshine Coast and long list of happy clients nationwide. Face to face visits can be arranged within an hour drive of the Sunshine Coast but the majority of clients needs work well via phone, zoom and email.
Yes! In some cases the best mortgage out there is the one you’ve got. The idea of a health check is to determine if their is a need and only when there is a need would we recommend a change of lender.
Either in person, email or by secure file storage. We can correspond no matter where you are.
We can provide borrowing analysis within 24/48 hours. Typically lenders turnaround times are 4-7 days. Unconditional approval is typically 14 days.
Email Scott
Email Scott below or call him direct on 0411115551
