With interest rates at an all-time low, and many lender’s fixed rates lower than their variable options, locking in an interest rate on your home loan to guard against possible future fluctuation may be attractive. However, it pays to know the ins and outs of fixed-rate loans before committing to one.
When purchasing a property, refinancing or just renegotiating with your current lender, borrowers can generally decide between fixed-interest loans that maintain the same interest rate over a specific period of time, or variable-rate loans that charge interest according to market rate fluctuations.
Fixed-rate loans usually come with a few provisos: borrowers may be restricted to maximum payments during the fixed term and can face hefty break fees for paying off the loan early, selling the property or switching to variable interest during the fixed rate period.
However, locking in the interest rate on your home loan can offer stability.
“For those conscious of a budget and who want to take a medium-to-long term position on a fixed rate, they can protect themselves from the volatility of potential rate movement,” a finance broker says.
Fixed rates are locked in for an amount of time that is prearranged between you and your lender.
“There are some lenders that offer seven-year or 10-year fixed terms, but generally one to five years are the most popular,” the finance broker says. “The three and five-year terms are generally the most popular for customers because a lot can change in that time.”
Further to this, fixed-rate loans can also be pre-approved. This means that you can apply for the fixed-rate loan before you find the property you want to buy.
“When you apply for a fixed rate, you can pay a fixed rate lock-in fee also known as a ‘rate lock’, which will, depending on the lender, give you between 60 and 90 days from the time of application to settle the loan at that fixed rate,” the broker explains.
“It will also depend on the lender as to whether the rate lock will be applied on application or approval,” added the broker. “It is important to be clear on this issue as it has been known to be a common point of error”.
Pre-approval helps you to discern how much money you are likely to have approved on official application. Knowing that your potential lender will offer a fixed-term fixed interest loan gives further peace of mind for those borrowers looking to budget precisely rather than be susceptible to rate fluctuations.
In addition, borrowers should consider the possibility of arranging a ‘split’ loan. This option allows you to split your loan between fixed and variable rates – either 50/50 or at some other ratio. This can allow you to ‘lock in’ a fixed interest rate for up to 5 years on a portion of your loan, while the remainder is on a variable rate which may give you more flexibility when interest rates change and potentially minimise the risks associated with interest rate movements. Also, be aware that at the end of the fixed-rate term, your loan agreement will include information about how the loan will then be managed by the lender, usually to a ‘revert’ variable rate – which may not be the lowest the lender offers.
[CTA] MFAA Accredited Finance Brokers are loan specialists. Speak to a broker about how to finance your property purchase and whether you are eligible for pre-approval.
If you are concerned about servicing your loan, reach out to your local mortgage broker for help.
As Australians everywhere take a close look at their financial circumstances, mortgage brokers stand ready to lend a helping hand.
Whether experiencing financial hardship through job loss, a reduction in work hours, or business disruption, an increasing number of Australians may be struggling to balance their books as a result of the Coronavirus, and in many cases are wondering how they will continue to pay the bills.
Difficulty with repayments
According to research conducted by Finder in early 2020, about one in five mortgage borrowers, or about two million Australian households, were struggling to make repayments, despite record low interest rates.
And with the challenging circumstances that have emerged since, it is anticipated that these pressures will only increase forcing more people to require financial assistance.
Financial relief strategies
In this difficult time lenders have responded by announcing financial relief strategies. In an official Australian Banking Association (ABA) statement, CEO Anna Bligh said, “Banks stand ready to support customers and if anyone is in need of assistance, they shouldn’t wait but come forward as soon as possible”.
Different lenders have different assistance options. These may include, waiving fees on early term deposit withdrawals, interest rate freezes on loans, options to defer or restructure home loan repayments, and emergency credit card limit increases.
It is important to remember that mortgage brokers have the knowledge, experience and relationships necessary to assist people experiencing or expecting to have trouble paying their home loans as a result of changing circumstances.
In times like these, the importance of mortgage brokers in assisting customers with hardship and facilitating access to credit cannot be overstated. For many Australians – particularly those in rural or regional areas – brokers may represent the only source of assistance.
Expertise of brokers is of critical support
Brokers’ expertise in helping customers navigate the complex home lending market – and their intimate understanding of their customers’ personal circumstances – means they are uniquely positioned to provide critical support for customers when discussing hardship and available options with lenders.
If you have any questions or concerns about your existing loans, need further guidance on hardship assistance, or have other questions about your loan arrangements, contact your Mortgage and Finance Association of Australia accredited broker.
If you’ve been thinking about purchasing your first property, 2020 might be the time to pounce.
Following a long-awaited correction, many property markets across Australia appear to have plateaued and are now once again increasing in value.
According to Corelogic, in January house price values in Sydney alone rose by 1.5 per cent, 6.7 per cent over the past quarter. While the average increase across the nation’s capital cities in just the first month of the year was 1.1 per cent.
Depending on who you speak to, this renewed growth may be attributed to a variety of factors.
This week we saw the Reserve Bank once again leave rates on hold at a record low 0.75 per cent. The central bank is widely expected to reduce the rate further to 0.5 per cent in the coming months.
Meanwhile, competition to lend money continues to heat up, helping to ensure lender interest rates remain low. Anecdotal evidence also points to an increased willingness from lenders to offer home loans to potential borrowers.
In addition, the Government’s First Home Loan Deposit Scheme is helping more people to gain a foot hold on the property ladder. The scheme works by providing a guarantee that will allow eligible first home buyers on low and middle incomes to purchase a home with a deposit of as little as five per cent (lender’s criteria apply).
Long story short the market is on the up and fear of missing out (FOMO) is a real thing. But it doesn’t need to be. Sometimes taking the first step towards a goal is enough to allay concerns and set a person on the right path.
Contacting a mortgage broker early in your search is often a wise idea as it may allow the broker time to understand your circumstances and potentially help prepare you for a successful loan application when
Another month, another rate cut. Finance can be so tedious.
That is until you realise it could mean more money in your pocket. But how?
For many, matters of personal finance are so dull and/or difficult, they are immediately filed in the too-hard basket.
And for their trouble, or lack thereof, these people are often slugged with a ‘lazy tax’ – the price paid for staying put.
Loyalty too, or simply being time-poor, can also be offences punishable by debt in the world of finance.
But it doesn’t have to be this way.
A 2018 Australian Competition and Consumer Commission (ACCC) report showed that new borrowers with an average-sized residential mortgage paid up to $850 less a year in interest than existing borrowers with the same lender.
However, despite the apparent benefits, actively ensuring an interest rate remains suitable is a practice that continues to elude many.
Fortunately, there are people out there whose job it is to assist in this process.
Finance brokers can play a vital role in assisting borrowers through the process of ensuring their mortgage is competitive.
MFAA mortgage brokers are just a phone call away and are ready to guide you through the task of refinancing your loan.
A dramatic increase in the number of lenders has highlighted the need for greater research and consideration, or ‘due diligence’, when searching and applying for a loan.
The act of purchasing a property, commonly requiring the production of significant personal information, coupled with the commitment of large sums of money, can be stressful.
And now, with a wide variety of new lenders entering the marketplace, confidently choosing a lender you are comfortable with can feel downright overwhelming.
Fortunately, there are steps you can take to help you make the right choice and reduce your risk of misfortune.
Trust your gut and be wary of behaviour or hints that may suggest something isn’t quite right
Your first step should be to speak to a mortgage broker who is a member of the Mortgage and Finance Association of Australia (MFAA).
The MFAA maintains high ethical standards for its brokers and ensures its members meet industry-leading educational criteria – they are the best-educated brokers in Australia. MFAA member mortgage brokers will be able to educate you on the variety of reputable lenders available to you. Find a MFAA broker here.
There are also a number of government operated organisations and websites that provide tools and opportunities to help you to conduct due diligence checks.
The Australian Prudential Regulation Authority (APRA) is an independent authority that supervises deposit-taking banking institutions. After a bank is licensed by APRA it is subject to ongoing supervision to ensure it is managing risks and meeting regulatory requirements. APRA-regulated banking institutions are licensed, so you can check the APRA site to see if a potential bank is licensed and adhering to APRA’s requirements here.
There are lenders out there who are reputable, but aren’t deposit taking institutions or banks, and therefore don’t need to be licensed and supervised by APRA. There are generally two types – private lenders or mortgage managers/white-label lenders. Private lenders are able to provide you credit and operate as a lender because they lend their own private money and they aren’t deposit taking organisations (that is, you can’t deposit and save money with them). Mortgage managers and white-label lenders, on the other hand, offer credit and loans, such as mortgages, but do so on behalf of other financial institutions such as banks. Again, they don’t take deposits.
Whilst private lenders and mortgage managers/white-label lenders don’t need to be licensed by APRA, they do need to be licensed by the Australian Securities and Investment Commission (ASIC) and require an Australian Credit Licence (ACL) if they engage in lending regulated by the National Credit Code, which includes making loans to buy residential property.
If you find that a potential home lender is not licensed by APRA, this should not be a concern provided that they hold an Australian Credit Licence. You can check this via ASIC’s search tool here.
Also, all Australian companies must be registered with ASIC. Helpfully, the ASIC website has several registers that you can search for free, including the Organisations and Business Names register, which indexes Australian corporate and registered business names. It also includes some incorporated associations.
If the business is not a company (such as a sole trader, a joint venture or a partnership), it will need to be registered on ASIC’s Business Names Register.
Search the Organisations and Business Names register on the ASIC website or the Australian Government ABN Lookup website.
ASIC also hosts a search function for unlicensed companies. If a company is on this list, you should not deal with them.
Lenders that engage in home lending (as well as many other types of lending such as some short-term or ‘payday’ lending) must be a member of the Australian Financial Complaints Authority (AFCA), which provides access to a dispute resolution process if things do go bad.
They must also provide an Internal Dispute Resolution (IDR) service. Check the lender’s website and call and ask their representatives. If the entity you are considering dealing with is not an AFCA member, the MFAA recommends you seek appropriate legal and/or financial advice or steer clear of that particular entity, as AFCA membership is a statutory requirement for such lenders.
Finally, it is always advisable to deal only with a business that has publicly listed contact details. Be sure to call the number provided, to confirm its legitimacy and consult with your broker
The Buy Now Pay Later sector is winning-over the youth demographic with the promise of instant gratification, but leading mortgage brokers are warning that with every sugar-high comes the risk of a corresponding low.
‘Buy Now Pay Later’ providers such as AfterPay and Zip Pay have experienced massive growth in popularity, with the number of users jumping from 400,000 to approximately 2 million between 2015 and 2018.
Driven by a simple proposition whereby the Buy Now Pay Later provider pays the merchant on behalf of the customer, allowing the customer to obtain the goods or receive a service immediately while subsequently paying off the debt generally through instalments, Buy Now Pay Later presents a tempting offering.
But as the sector’s breakneck growth continues, mortgage professionals are warning users, particularly in the younger demographic, to be cautious of overdoing it as this could risk effecting their chances of securing a home loan further down the track.
“It’s the layby of our day but in reverse. It’s your forward credit for an item, which I don’t agree with,” said one leading mortgage broker.
“In theory, it makes sense. You get the item or service and pay it off over instalments, so you’re actually putting forward your liability.
“This might be ok for someone that manages their money well, if they pay off the item on time and use their mortgage offset account correctly. This way they’re delaying expenses and offsetting more of their savings against their home loan.
“But there’s probably one per cent of people doing that and the rest of them are spending beyond their means,” the broker added.
As a result, according to this broker, there may also be a stigma associated with using Buy Now Pay Later schemes rather than paying up-front and in-full.
“Utilising this payment method may potentially send the wrong message to a bank.
“If a lender sees a ‘buy now pay later’ provider frequently on a client’s bank statements, that can trigger more questions about their spending behaviours and ultimately may mean they choose to decline the application.
“I would much prefer to see my clients save for the item and demonstrate those good habits.”
If you are concerned about your level of expenditure or your ability to secure a home loan, a conversation with your local mortgage broker could set you on the right path.
“It’s important to appropriately manage your expenses well in advance of applying for a home loan, that way you can show the bank that you can save and afford to service a mortgage when the time comes,” the broker said.
As a home owner with a mortgage, chances are you’ve heard of the term ‘refinancing’. Refinancing involves reviewing your current mortgage, and potentially swapping your loan to another lender who can better meet your current needs, wants and circumstances.
Refinancing can also allow you to consolidate your debts or pay down your mortgage more quickly.
Another common reason borrowers look to refinance is so that they can access equity – the amount you’d get from selling your home after settling any associated loans, such as a mortgage on that property, and any other costs associated with the property. Depending on that amount, you may be able to access equity in the property without having to sell it, for example, to make home renovations or to buy an investment property.
However, refinancing is not suited to everyone. There are many different factors you will need to consider when thinking about refinancing a loan. Before you initiate an application to refinance, your broker will need to assess your needs and objectives as well as your current financial situation.
So how will you know that refinancing is the right option for you?
The first step is to speak to a professional, such as a mortgage broker, about your needs and whether you can afford a different loan structure or other change to your mortgage, particularly if you have more than one property.
Are you looking to pay less interest?
Some people are savvy researchers and will want to take advantage of a lower interest rate from another lender should that be available to reduce repayments. If you aim for a lower interest rate, this could potentially save you a lot of money in the long term.
While saving money is often one of the biggest benefits of refinancing, it may not be as straightforward as that and careful consideration is required.
At this point, the broker will need to find out about your existing loan, repayments and current loan structure.
Your mortgage broker will also need to find out more about your current financial situation, including your income, any other current debts and about any assets you own.
The current value of the property is also taken into consideration, so your broker will have access to current data that will indicate what your property is likely to be worth.
The broker will then review the various loan options and figure out whether it’s worth it for you to refinance. Sometimes it’s not worth it if it’s only going to save a couple of hundred dollars a year, particularly when you take into consideration the exit and application fees involved. But if it’s going to save upward of $1,000 a year, refinancing might be a sensible approach.
In some cases, the mortgage broker can tell you if getting a lower interest rate from your current lender can be achieved without refinancing.
Do you want to change your loan type?
One of the risks of refinancing your home loan is that you may need to pay Lender’s Mortgage Insurance (LMI)* to your new lender. If switching your loan means you will need to pay LMI again, it may not be worth refinancing.
If you do decide to go down the refinancing path, working with a broker rather than going straight to a lender has advantages. Broker’s generally have access to loan options from a range of different lenders (on average 34 lenders), and if there’s a better opportunity for you, they’re usually able to access it.
It is important to consider that when you take up a new home loan, it can incur exit fees and may not have all the features your existing home loan has.
Have your circumstances changed?
If you had a recent major life change such as a because of a loss of income or a change in marital status, you might be looking to refinance.
If you want to refinance to lower lending costs to help you manage your monthly repayments, speak to your mortgage broker who can negotiate with your current lender for a rate suitable to your current situation.
Your broker can also help you look at alternate options to consolidate your personal loans and credit cards into the one loan. This could help you in lowering your monthly repayments, or help you keep your repayments on time and even save you interest in the long-term. The key is to speak to a MFAA accredited mortgage broker who usually has access to many lenders and their products and has the expertise to help you through the refinance application process.
*LMI protects the lender against potential loss.
When people think of buying an investment property, many only think locally. Investing in a property interstate could possibly be a smarter idea, potentially resulting in a better return on your investment. it may also be a potential way to snaffle a bargain. You could be buying into an area with greater potential capital growth compared to your home state – as each state reaches different stages of the property cycle at different points.
2015 figures from LJ Hooker’s Investor/Tenant Survey indicated only 14 percent of Australian investors surveyed own an interstate investment property.
Some of the key issues to keep in mind include:
The logistics of property management
Some may find it hard to manage their investment property from another state. It can be costly maintaining a property and finding tenants if you regularly need to travel between states. Although employing a property management service may be able to help here.
Property managers undertake several jobs that can be difficult for an interstate investor to do. They can screen your tenants, source the best local tradespeople for repairs and, by inspecting the property on your behalf; can save you the expense of flights for site visits.
While you may be recommended a property manager by your real estate agent, it’s a good idea to shop around, given there’s usually some variation in the nature and quality of the service that managers provide.
Some, for example, might provide an annual market rent review but others might go to the next level and give you feedback on how you can optimise the rental income on your interstate investment. Not all property managers will be as effective at managing the property or screening tenants – while others could be better qualified and so the fee they charge for their services could vary.
Get a pre-approval
Pre-approval is important because it informs you about barriers you can encounter when you seek to arrange finance for an interstate investment.
Certain lenders can be restrictive in the terms and conditions they attach to loan approvals in different parts of the country.
The location of the property could impact the amount you can borrow from a lender – and it’s important to remember different states have different fees and taxes.
Getting a pre-approval can give you the confidence you need to make a sound investment decision.
Visiting the property
Visiting the property and seeing it is more telling than simply viewing pictures. But the travel and cost associated with investing in interstate property obviously imposes limits on the time you can spend seeing the property.
A buyer’s agent is one potential fix, but it’s costly to pay a buyer’s agent to tell you a property is potentially a poor investment once, let alone several times. Likewise, it’s expensive to make the discovery yourself after you shell out for flights and associated travel expenses, so it pays to research the property and area as diligently as possible prior to undertaking closer physical checks.
The internet is a great source of valuable information, including property guides and market updates.
As with any property, local or interstate, there are pros and cons and you need to conduct your due diligence to ensure you make a good decision.
To decide if interstate property is a suitable investment for you, it’s worthwhile consulting with an MFAA accredited finance broker about the considerations to be mindful of before applying for finance.
When you’re confident you’ve identified a suitable interstate investment property, a broker will be on hand to support you to get an appropriate loan for your needs.
If you’re looking for a home loan but are inexperienced with finance brokers, attending your first appointment with a broker can be a nervous experience. Getting a home loan, after all, can be quite complex for a first-timer. There are lots of brokers around and there is a lot to learn. But there are many steps you can take to be confident that your appointment will be a success.
A good starting point is to familiarise yourself with the expectations of the first appointment between brokers and yourself. Your broker is very likely to ask you about your medium and long-term financial goals, the amount you want to borrow, comparisons of your home loan options and your understanding of the fees, costs and conditions attached to home loans. Knowing the direction the appointment will likely take lets you participate more actively in the conversation. This means you can better articulate your needs to your broker.
It’s also recommended that you give some consideration before the meeting to the types of questions you wish to ask your broker. Questions that can be of use include such things as loan types (such as term, repayment options and interest rate types), the types of ongoing fees attached to various loans (such as early exit, late payment, break and redraw fees) and the typical timeframe for a loan settlement.
These questions might pop into your head spontaneously during the meeting but preparing them in advance is a good way to refine them. By doing so, you are in a position to get more specific information from your broker.
It is common practice, too, for your broker to conduct a needs assessment prior to your face-to-face appointment – so you may be asked some pre-appointment questions. To assist in answering these, you’ll need to supply information about your employment history, assets and expenses.
At the appointment it will save you time and effort to prepare and then bring the required documentation with you. This can include ID, transaction histories, tax returns, rental income statements and borrowing documents such as “contract of sale” and proof that you have the deposit for a property. It’s mandatory for brokers to maintain the confidentiality of information that you provide to them and only pass on information necessary to enable them to lodge your loan application or where required by law.
The other preparation you can make to maximise the success of your appointment is to research your broker. Many brokers provide content on their web pages and social media. This can give you a good indication of their knowledge and expertise and highlight topics to discuss with them. You can also determine if they specialise in any types of loans that match your needs, where they are located and their panel of lenders. Finally, you should investigate their qualifications. Although brokers are only required to obtain Certificate 4 qualifications, it could be argued that the better brokers hold Diploma qualifications. Finding a diploma-qualified broker will help ensure you receive the best credit advice.
Brokers can also be accredited, with accredited brokers held to higher standards. By verifying they are accredited, you can approach the meeting knowing your broker is appropriately educated, adheres to a strict and professional code of practice and is authorised to access a large range of products offered by a variety of lenders.
Securing a business loan in Australia isn’t necessarily difficult but knowing how to navigate your way can be the difference between success and failure.
Banks and other financial institutions offer a wide range of business finance options, from commercial property loans, commercial vehicle leases, and commercial and equipment leases, to simpler options such as letters of credit, overdrafts and lines of credit. Here are some tips on how to improve your chances of success.
- Work out what is realistic
It’s a good idea to find and compare credit options based on the amount of money you need to borrow, how you want it supplied and the type of security you want to provide (residential, non-residential or none at all).
- Find a Finance Broker
The next step is to speak to an MFAA accredited finance broker, who can help you work out what loan type and lender are appropriate for your business and you. finance brokers work with clients to determine their borrowing needs and abilities, select a loan suited to their circumstances and manage the process through to settlement. They also do a lot of the legal and other paperwork, they have access to a wide range of loans and are experts in the area.
- Have a credit history and make it good
Lenders are looking for two things when it comes to your credit status: an existing credit relationship and a relatively clear history. If a borrower already has an existing loan which they’re servicing on time, they are much more likely to be successful. Of course, there are options for those who are either credit impaired or just don’t have a documented credit history, and a finance broker can help clarify these.
- Actively show how risk will be minimised
Demonstrate how you will lessen the risk to you and to the lender. Your finance broker can help.
- Be prepared
For your first meeting with your finance broker, have up-to-date paperwork and tax records, make sure you’ve done your research and have a fair idea how much you want to borrow and how you plan to spend it. You should also know your total worth, listing your assets and liabilities.
- Have a plan
Lenders like to see a business plan that shows that you know what you want to achieve and have a clear idea of how you can achieve it.
- Provide more than one exit strategy
Lenders want to know how they’re going to get their money back and some want up to three scenarios for what is called the ‘exit strategy’.
To give your business a good chance of success, talk to an MFAA accredited finance broker about finding the right commercial financing options for you.
An MFAA Approved Finance Broker is much more than your average mortgage broker.
Due to the risks involved, strict guidelines are imposed on business finance, so securing approval can be difficult. Here are a few mistakes to avoid to increase your chances of approval.
Not knowing your credit score
Many consumers may not realise the importance of a credit score. Not only is it taken as a reflection of your ability to make repayments, it also highlights your financial history which is why understanding what it is and how it can be improved can be vital.
“I have seen cases where businesses were oblivious that they had a credit default until it was time to submit an application,” says an MFAA accredited finance broker.
Lack of planning
Understanding the assessment criteria and having a well-prepared application increase your chances of approval. The key things to be aware of when it comes to your application are a healthy debt to income ratio, existing business assets and a justified cash flow position, the broker explains. “This ensures that the lender has a full picture of what has happened and what the future forecasts are.”
Aside from providing these financial statements and forecasts, be prepared to discuss the purpose of the finance and how the business will service the loan. “Business owners need to articulate how they are going to use the capital and demonstrate how repayments will be made.”
Bad Strategy
Longevity in a business is what lenders want to see and, in order to showcase that, a good strategy supported by financial statements must be in place, and those statements should be geared towards demonstrating strong earnings. “Many businesses are focused on minimising taxes and not maximising earnings,” advises the broker. “While there are tax advantages, not managing your business in order to demonstrate maximised earnings can have a negative impact when it comes to applying for a loan.”
Not having the right advice
Surrounding yourself with industry experts can provide you with a solid understanding of what needs to be included in your application, and a good equipment and commercial finance broker can match you with the right loan product. “A good broker understands that running a business can often leave you with little time, so ensuring you have someone qualified and trustworthy to do the legwork can be the difference between a success or decline,” says the broker.
Knowing what a property is worth is central to avoiding paying too much for it.
Set a benchmark
Comparing nearby properties that have sold recently is the best way to assess an acceptable price for the property you are looking at and provides a valuable bargaining tool when you are negotiating with a seller or agent. Make sure the properties are comparable, with a similar land size and number of bedrooms, for example, so you aren’t measuring apples against oranges.
“Your mortgage broker can give you a list of sales in the area and then you can drive around and look online to do a quick comparison. If you can find one or two similar properties then you can be sure of what the property is worth,” advises the finance broker.
Keep in mind current market conditions
The property market is always changing, so doing this research once and sitting on it for a few months will offer little help. Going to open homes and auctions regularly will give you insight into the current state of the market and how much certain properties are going for.
Expand your search
“My number one tip is to look at properties in the suburb next to the one that you want,” says the finance broker. “We find that first-home buyers in particular usually end up buying in the more affordable suburb next door to the one that they first wanted to buy in.”
Don’t exceed your financial capacity
Even if a lender approves you for a particular loan amount, it doesn’t mean you have to accept it – a higher loan amount means higher interest charges over the life of the loan, increasing the total cost of the property purchase, so only ever commit to a loan that you can afford alongside your current income and real expenditure. When calculating figures for the price of a home, ensure you also budget for maintenance and repair costs, as well as any other expertise you may require in the purchasing process.
Bring in the experts
“I would strongly recommend using a buyer’s agent as buying a home is one of the biggest financial decisions of your life and most people go in blind,” says the finance broker. “If cost is a concern, then I would suggest maybe using them only for part of the process that you need help with, such as the negotiation or bidding at an auction.”
an MFAA accredited finance broker onside is key to avoid overpaying for finance – they will search out the best loan for you and make sure it is one that you can afford.
