FHB, any good mortgage brokers in the Gold Coast?

Hi all,

I've decided to take my first step into the property market and have need of a good broker or bank/lender. I have been quoted a 4.15% rate (or 4.09% 2-year fixed rate) with Suncorp by a broker however there is a yearly fee of $375/year which includes an offset account. That is for a LVR of 87.5%.

Any advice/tips?

 

@Rolf Latham is Gold Coast based.....Ok Nerang, but let's not split hairs!

Rate should be 3rd+ on the list of a loan to grow a portfolio.

Rolfalicious should sort you out!

pinkboy

 

+1 for Rolf

 

If all you want is a cheap rate, then Suncorp meets that requirement. The $375 annual fee is comparable to most other lenders with products with similar features.

If you want to build an investment portfolio, you'd be painting yourself into a corner using them. If you're interested in wealth creation through property, I'd also recommend talking to Rolf.

 

Suncorp and investing generally don't mix. Especially if you're taking out a mortgage insured loan with them on your first property.

Agree with hitting up Rolf - he's very good.

Cheers

Jamie

 

Forget about rate for a second - focus on the fact that you are paying LMI. This is powerful stuff because you will be able to reuse the LMI credit at a later stage.

So you need to use a lender that has a good cash out policy in LMI territory and also you are not snookering yourself due to conservative servicing/borrowing capacity. Suncorp has a very conservative servicing calculator. You don't want to waste the LMI which you have already paid.