Melbourne Buyer's Agent for Budget Investors

Thank you! I'll contact JacM, but it looks like she has a higher bracket for 400K+ properties.

I searched online and found this Flat Fee Buyers Advocates, Buyers Agents Fees , $6000+gst for any property. Has anyone here dealt with Buyers Home Base before? If you can PM me your feedback, it'd be great.

 

Thanks @WellKnow, @strongy1986 , @Peter_Tersteeg for recommending Frankston. I was considering it but a friend of mine recommended me Werribee over Frankston. I'll check it again.

Hi @Jamie Moore and other mortgage brokers out there, I got preapproval with Liberty at 5.54% for IO, professional investor package, do you deal with them? is there a way to get a better rate with them (better than what they advertised on the web)?

Is there another small lender who offers a better rate? With my current situation, the big 4 banks will not lend me any further (from what my broker told me).

many thanks

 

If your broker has recommended Liberty, it's probably because your serviceability is already so tight that there's no alternative. Liberty know that investors have no real alternative, so they can get away with charging higher interest rates to investors.

The ways you can get a better rate out of Liberty are to go P&I and a 70% LVR. This would get the rate below 5%.

There also seems to be a perception out there that 'smaller' lenders are more willing to lend money than the big banks. There are plenty of private funders that are tiny compared to the mainstream lenders, Liberty is one of them and by comparison is quite cheap. Most charge rates starting with a 6, 7 or even more. They are very willing to lend money if you're willing to pay for it.

There's also the credit unions and local banks. Whilst they are quite competitive on their owner occupier rates, they're extremely conservative. Their serviceability criteria is incredibly restricted and in many cases they're virtually not dealing with investors at all right now. Smaller lenders are not the answer.

 

I have Liberty loans, 4 actually.I don't trust them one bit, have an exit plan,i think they are a bit unpredictable.

 

I've gotta ask, what's your exit plan?

 

I have enough cash in the mattress to pay them out ,my exit plan doesnt mean sell,if thats what you mean.

 

Hi @jim1964, are you still with Liberty? which aspects that you don't trust them? is it because they can increase rates at any time?
I haven't read their conditions carefully, but I asked the broker if there's any penalty when we want to switch and he said just the usual discharge fee.

Thanks

 

Yep,still with Liberty.In fact i have a few mortgages with ANZ and NAB as well,Liberty have been the hardest to deal with,from the onstep to simple customer service,their online site is crap as well.