Three things you can ask your mortgage broker, for free

WHEN it comes to managing your home loans and planning for the future, sometimes the simplest questions can unlock the most value.

The good news is you don’t need to pay to start the conversation with your mortgage broker. In fact, there are a few powerful tools we can offer that most people don’t realise are completely free.

Here are three things you can and should ask us for:

1. A property valuation report on your home

Most people only think about the value of their home when they’re getting ready to sell, but knowing what your home is worth can help with a range of decisions.

As brokers, we have access to professional desktop valuation software, the same type of tool that banks (and real estate agents) use.

To the normal folk, this costs money to access, but we can generate a report for free and it only takes us a couple of minutes.

With this report, you can get a good sense of your property’s estimated value and the amount of equity you’ve built up. This is helpful whether you’re thinking about refinancing, renovating, buying something else or simply wanting to stay informed.

2. A property valuation report on a property you’re thinking about buying

If you are house hunting, we can also provide a similar valuation report for a property you are considering purchasing.

It is a great way to cross-check what is being advertised with what the market is really saying. This can help you approach negotiations or auctions with greater confidence. Once again, it’s free for us, and easy to generate.

3. A quick servicing check to see how much you can borrow

One of the most common questions we get is, “How much can I borrow?” And a key thing to know is that online calculators are typically wildly inaccurate.

With just a few key details such as your current income, existing loans, and liabilities, we can run a quick servicing check to give you a clear picture of your borrowing power. This only takes about 15 minutes and can be invaluable in shaping your plans.

We can also easily model “what if” scenarios. For example, we can look at how paying off a credit card or car loan might boost your borrowing capacity. If you are thinking about asking for a pay rise, knowing the income level that will help you achieve your goals can also make that conversation with your employer more targeted and purposeful.

The takeaway

Sometimes the best next step is simply reaching out and asking the question. These tools are readily available and we love helping clients explore their options.

If you would like to know what your property is worth, where you stand with your borrowing power, or how to approach an upcoming purchase, just give us a call or drop us an email.

It will not cost you a thing and it might just open new doors.

Have a question you’d like to ask our team? Email [email protected]

WITH TRIBE FINANCIAL

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