Searching for a Mortgage! Gold Coast
Real Estate continues to be very popular.
The Gold Coast is growing rapidly and many people are looking for a Mortgage. Gold Coast property is still fairly affordable for it’s location and that is why there is such interest.
Are you concerned that your bank may not give you enough money to buy the property you want because of your past credit history or because you run a business, even though you know you can afford it?
Every bank has different rules and so some banks will lend you the money while others will not. However if you go around applying to lots of banks and get lots of declines then this will appear on your credit record.
This is where a mortgage broker can save you lots of time and heartache. They know the rules that each bank has. So they will only put forward your application to a bank that will accept your circumstances.
Poor Credit History
There are special banks and lenders who will lend to people with a poor credit history. You may end up paying a higher interest rate but for many people that is a small price to pay in order to live in your own home. If you have a good payment history over the first few years then you can often reduce your interest rate with that lender or by switching to another lender.
Run your own business
For tax purposes you ideally want to show as little income as possible. The problem is that when you are applying for a loan they will want to see your accounts. A bank will look at your income and debts, how long at the current address and time the business has been running in order to determine if they will lend you money. So if your reported income is really low then you may struggle to prove you can make the repayments even though you know you can. A good mortgage broker like our preferred supplier will help you by looking at what you have claimed as one off deductions and add this back into your income for that year.
All of this will help you to secure your dream home Mortgage. Gold Coast living awaits!
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