Most people we chat to about the services of a Finance Specialist seem to have the same opinion; because they’ve had their Dollarmite account with one bank since they were 6 years old, this bank will for some reason offer them special treatment and a great rate on a home loan. Oh, man I wish this was true.
Banks are businesses and they want to make as much money as they can. They don’t achieve this by looking out for the best interest of their customers. Do yourself a favour and find a professional to help you work through the bullshit and find the home loan that will work for you.
We have an amazing Finance Specialist who I’ve known since I was in nappies (she just loves to bring up the time she found me smearing the contents of one all over my bedroom) who I recommend to anyone who listens.
When we bought our house, she sat down with us to see what we wanted to do, where we wanted to be in the future and worked out a plan of attack to get us there which was great! But the most valuable part of her role for me personally, is being accountable to someone. Ultimately, it’s up to her to submit the paperwork and get us our loan so there’s a small part of me that feels as if I need to justify our decision in a reasonable and practical way in order to convince her that the banks won’t totally hate our idea. This really has steered us clear of some pretty dumb ass ideas over the years (like buying a property in a flood zone that required a house with a floor level 4 metres off the ground…not even kidding!)
They do all the hard work for you and can tell you:
- how much you’ll be able to borrow
- what your repayments will be
- which bank has the best loan term and interest rate
- what other fees may be involved
What they do for you:
- they don’t cost you a cent but can save you a bunch
- provide unbiased advise
- make you think about option you hadn’t thought of
- talk you out of doing something really dumb
- vacant land is hard to borrow for, they’ll tell you what to look for to keep the bank happy
What you do for them:
- provide them with basic financial details such as pay slips, outgoing costs, etc.
- let them know when you’ve found your property & send them the details
- meet up with them to sign the paperwork
- shout them a coffee / wine / whiskey when the deal is done
Want the contact details for our financial whiz? Check out our Dream Team Page!