Over two million Australians own a second property. Some do it to invest in real estate and increase their wealth, while others simply want to improve their lifestyle with a holiday home. Whether you share the same sentiment or not, purchasing a second home is a huge decision not to be taken lightly. Continue reading […]
Maximising Your Local Mortgage Broker Relationship
By Deltos Finance on August 12, 2024
Whether buying your first or second home or investing in multiple properties, having a trusted local mortgage broker by your side can make all the difference. The right financial guidance and local insights can point you in the right direction and make your real estate decisions pay off. You can get better results if you know how to strengthen and maximise your relationship with your go-to local mortgage broker.
The Advantages of a Local Touch
Before discussing strategies to maximise the value of hiring a local broker, let’s explore some of the many benefits of using a local mortgage broker:
- Accessibility: Having a broker in your local area means easier access to professionals regarding urgent matters or last-minute questions about your loan application. You can easily call, meet up with them or go to their office.
- Personalised Service: Besides offering face-to-face meetings, local brokers are more likely to provide tailored advice based on your specific circumstances. Unlike big firms with too many clients, they operate locally and usually deal with only several clients at a time to maintain their personal touch.
- Community Connection: Local brokers are often invested in the community and may have insights into upcoming developments or changes affecting property values. Those insights and community connections can be your advantage when selecting a property and looking to finance it.
- Relationship-Based Lending: Mortgage brokers usually have strong relationships with local lenders. That can hugely benefit you, as such relationships can lead to more favourable loan terms or faster approvals.
Maximising Value from Your Local Mortgage Broker
Now, to get the most out of your relationship with your local mortgage broker, here are some tips and strategies you can follow:
1. Be Proactive
Don’t wait for your broker to reach out. If you have questions or are considering a new property investment in the area, initiate the conversation. Also, don’t limit your interactions to whenever you need a home or investment loan. Schedule regular catch-ups to discuss market trends, portfolio performance & potential opportunities.
Creating a healthy feedback loop can help, too. Let your broker know what’s working well and where you see room for improvement. This feedback loop can enhance the quality of service you receive.
2. Ask for Specific Market Insights
Your broker can provide valuable information about local market trends, such as the best Tasmanian suburbs to invest in or the state of Hobart’s real estate industry. Don’t hesitate to ask for specific market insights to help you make investment decisions.
3. Utilise Their Lender Network
Local brokers often have access to a wide range of lenders, including smaller regional banks that may offer competitive rates. So, maximise that network by telling your mortgage broker you like to consider those smaller, regional lenders. You can also ask them to connect you with private lenders should you want to explore those.
Moreover, local brokers partner with real estate agents, property managers, and other professionals. Tap into this network for comprehensive property investment support.
4. Seek Regular Loan Reviews
Have you already secured a first home loan or construction loan with the help of your local mortgage broker? Ask your broker to review your existing loans periodically. They may identify opportunities to refinance or restructure your debt for better outcomes. If refinancing isn’t their expertise, they can refer you to a well-vetted refinance mortgage broker in the same area.
5. Collaborate on Long-Term Strategy
Want to own multiple rental properties to increase your retirement savings or boost your wealth? Work with your local mortgage broker to develop a long-term property investment strategy aligned with those specific financial goals. Start by being transparent about your financial situation & investment goals. The more your broker understands your objectives, the better they can tailor their advice and strategy.
Also, spend ample time learning the value of real estate. While your broker is the expert, showing interest in understanding the mortgage process and market dynamics can lead to more productive discussions and better decision-making.
The Deltos Finance Advantage
At Deltos Finance, we pride ourselves on being more than just mortgage brokers in Hobart—we’re your local partners in property investment success. Our team of expert brokers in Hobart, Launceston, Devonport, Beaconsfield, Carlton & Richmond combines deep local knowledge with a commitment to personalised service.
We understand that every homebuyer or investor’s journey is unique. That’s why we’re dedicated to providing tailored solutions that align with your goals and circumstances. From finding the right loan product to structuring your portfolio for optimal performance, our expert team is here to support you.
Your Next Steps
If you’re ready to buy a new home or invest in a rental property and work with a local mortgage broker in Hobart, here’s how you can get started:
- Schedule a consultation with one of our local Hobart mortgage brokers. Again, we also have teams in other parts of Tasmania, like Launceston.
- Prepare a list of your current investments and future goals to discuss.
- Bring any questions you have about the local property market or lending landscape.
Contact Deltos Finance & start maximising your local mortgage broker relationship. We’re the real estate partners you can rely on for years—or even decades!
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