Australian Mortgage Broker

Australian Mortgage Broker

Australian mortgage broker Oak Laurel can assist foreigners that are buying property in Australia and require an investment property loan to compare options and arrange the loan for them.

It can be difficult for foreigners living overseas to arrange finance for their Australian property purchase. Without using a mortgage broker, finding the right loan can be a long and complicated process for Australians living in Australia. The process for obtaining finance from an Australian bank or lender can be very different from that in a foreigner's home country. Oak Laurel can guide you through the entire process from finding a bank or lender that you qualify for to applying for a pre-approval to the final approval and settlement of the property purchase and loan.

Oak Laurel mortgage brokers have experience with arranging home loans for foreigners living overseas and can make the process a pleasant and satisfying one.


Australia mortgage broker.

Investment Loan Rate Increased? Investment Loan Review

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Has your investment loan interest rate increased? Don’t be ripped off, get an investment loan review

If your investment loan rate has recently increased or it has been a while since you had it reviewed you may want to get an investment loan review to check if there are any better options available.

What is going on with investment loans?

If you have been ignoring the chatter in the media about property prices and investment lending you may not be aware that the Government Banking Regulator (Australian Prudential Regulatory Authority or APRA) has been putting pressure on the banks to curb their investment lending if they have their investment loan books growth above 10%.
The offending banks and even some banks that were not above APRA’s 10% investment loan growth limit have responded in a number of ways:

1. Raising their investment loan interest rates including for existing variable rate investor loans;
2. Changing their borrowing power calculations to make it harder for property investors to qualify for a loan;
3. Limiting investment loan to value ratios to lower levels; and
4. Decreasing their interest rates for owner occupied loans to encourage more owner occupier borrowers and even out their loan books.

Not all offending banks are doing all of the above.

Are there still good investment loan interest rates available?

Yes,there are still good investment loan interest rates available! Not all lenders have exceeded APRA’s 10% investment loan growth limit and some lenders are still actively competing to get your investment loan. These other lenders are still offering competitive investment property interest rate, fee and feature packages.
As property investors we know how important it is to have a competitive interest rate on your investment loan. If you are paying more interest than the rental income, negative gearing may make up some of the difference but even with negative gearing you are still paying money out of your own pocket. This can impact on your ability to make further investments and or your lifestyle. Lets face it no one want to pay more than they need to on their loan, least of all property investors who are investing to make money.

Are higher loan to value ratio investment loans still available?

Yes, higher loan to value ratio investment loans are still available! Some lenders are also still offering higher loan to value ratio loans 90% or up to 95% LVR exclusive of lenders mortgage insurance for investment properties.

Find out more about higher LVR investment loans

With the recent lending changes some banks have stopped offering higher loan to value ratio loans for property investors. Other lenders are still happy to lend at higher LVRs up to 90% or 95%.

High LVR investment loans

Investment loan review – Free

If your investment loan rate recently went up then you should get your investment loans reviewed by one of our finance professionals that understand investment loans. Oak Laurel has mortgage brokers that know which lenders have the good investment loan rates now. Or brokers can assist you to switch your investment loan portfolio to where there is a better loan package from another lender. If you have one investment property or many investment properties, our investment loans specialists will review your loan portfolio to identify if they can get you a better loan or loans. If you also have an owner occupied home loan(s) our finance professionals can check to see if there is something better available for that also.
We will not charge you for the review. If we cannot find any better options then there is no loss to you. However, you can be confident that you are not being ripped off. If we can find you better options then it could save you a lot of money.

Contact an Oak Laurel about an investment loan review!

Don’t delay act NOW!

+614 30129662

Oak Laurel – Investment property loans made easy!

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Good investment loans easy to find in Australia

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Whoever said that it was hard or expensive to get an investment loan must have been looking for one in their own navel. Many lenders are still actively competing for investors as they have not exceeded the Government Banking Regulator’s 10% investment lending growth ‘speed limit’.

Many lenders are still offering loans to investors at higher loan to value ratios and competitive interest rates. The major banks who have exceeded the Government Regulator’s investor growth limit are getting out of investment loans and some are now spruiking that the investment market is dead.  This smacks of If I can’t play I will close my eyes and shout that the property market over. But with so much demand for property in Australia’s two largest cities, Sydney and Melbourne, no one wants to hesitate only to have to pay thousands more for a comparable property next week. Anyone who has attended an Auction in Sydney or Melbourne recently knows that the demand is stronger than ever as are prices.

Here is the tip to getting a good investment loan. Don’t bother going into a bank branch. Don’t bother going to a mortgage broker that is owned by a bank. These places don’t give you a lot of choice even if you are not an investor. Go to an independently owned mortgage broker who has access to a wide range of lenders including non-bank lenders. You will find out that there is plenty on offer for property investors with competitive loan packages to boot. Find more info about what kinds of investment loans are still available here: investment loans

Now that the big banks are out of investment lending they have started talking down the property market prospects, it does not even matter that the data says the opposite. There may be an affordability issue in Sydney but the Melbourne market median house prices are around $200,000 cheaper than Sydney and are just starting to really take off. The most recent property price growth data shows that Melbourne has overtaking Sydney as the fastest price growth city and prices are growing even faster than before. The big banks may be disappointed that they can’t lend to investors in this growing market but this will just give the lesser known lender a chance to show off their investor loans expand their investor market share. These new Government Regulator measure are levelling the playing field for lenders and introducing more competition that is long overdue.


 By Dr Nigel Abery (PhD) 

Oak Laurel Mortgage Brokers – Home loans made easy!

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Australian property price gains remain strong – Aug 2015

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Australian property capital gains remain strong in Sydney and Melbourne – Aug 2015

Despite bubble talk from some media commentators the property price gains remain strong in Sydney and more so Melbourne – Aug 2015. If you were waiting for housing prices to drop in Sydney or Melbourne the latest data shows that it looks like you may have made the wrong decision. Demand for property in Australia’s largest and future largest cities remains strong. House price data from Corelogic PRData  monthly values – 31 July 2015 shows that “% Change Month on Month” unit prices were up by 3.23% in Sydney and up by 3.18% in Melbourne. Furthermore, house prices were up 3.32% in Sydney and up 5.12% in Melbourne, month on month. Rather than being dampened, surprisingly the data shows that property price gains in Sydney and more so Melbourne appear to be gaining speed. Melbourne price growth looks to be starting to catch up with Sydney’s.
Auction clearance rates over the last week (25 Jul – 1 Aug 2015) in Australia’s two largest cities show a similar picture with both Sydney and Melbourne having clearance rates at 79% according to the APM Market Reports on Real Estate listing site domain.com.au.

What about the changes some banks have made reducing maximum loan to value ratios for investors?

The changes in bank lending for investors does not appear to have had a dampening impact on property prices. There are still lenders that are providing 95% LVR investment loans and competitive interest rate, fees and feature packages. Furthermore, if you have equity from the already owned property price gains then you probably don’t need a higher LVR.

What about the interest rate rises for investors that some banks have made?

So far the interest rate rises that have been made by some banks have been modest. Investors must find the increase in interest rate insignificant compared to the capital gains that are being seen in Sydney and Melbourne. I wonder how much interest rates need to rise by before the current rate of capital gains becomes unattractive? Furthermore, there are still lenders out there that are under the Government Banking Regulator’s (the Australian Prudential Regulatory Authority – APRA) ‘magic number’ of 10% maximum allowed growth in investment lending and are more than happy to lend to investors. Investors can still get interest only investment loans in the low four percent range and even when borrowing over $1million. Note, you will need to meet the lender’s eligibility criteria. This information is correct at time of writing, the market is in a constant state of change. Check with us if in doubt.

What is the major limitation on borrowing now?

As previously mentioned the big losers from the new bank measures are first home buyers that want to enter the property market by buying an investment property. If you are a First home buyer looking to enter the property market as an investor to take advantage of the rent and negative gearing to help with the payments you may be interest in a guarantor home loan.
If you already own well located property in Sydney or Melbourne that was purchased some time ago you probably have access to some equity in your property. This equity can be used for a deposit on an investment property.
The major limitation on borrowing is then your borrowing capacity. The Government Regulator crackdown also included getting some banks to tighten up their borrowing capacity calculators and policy to make it more difficult to demonstrate your ability to make repayments if interest rates rise. The some banks have now changed how they consider rental income, living allowance and other some aspects in considering your ability to repay a loan. Want to maximise your borrowing power? Ask you what you can do and how you can do it, when you enquire with one of our mortgage brokers for a mortgage.

What is the solution for investors looking to borrow?

Looking to borrow to invest in the Sydney, Melbourne or other property markets? Ask one of our mortgage brokers about getting an investment loan with flexible borrowing capacity requirements, access to higher LVRs and competitive interest rate, fee and feature package. Note: this information is correct at time of writing, the market is in a constant state of change. Check with us if in doubt.
Contact one of our local mortgage brokers to go through your options.
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Oak Laurel Mortgage Brokers – Home loans made easy!

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Home construction loans: how do construction loans work

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Construction loans

Building your dream home can be an exciting experience. Taking an idea and turning it into reality can be a rewarding experience if done right. When you build your own home you can decide how you want it to be.
It is not always trouble free. Constructing a home can be a long and expensive process and there are many possibilities that things can go wrong.
If you are borrowing money for the construction of the home then the lender is also taking on the risk that something will go wrong. The major risk is what the finish building will be worth. Some of the other risks include the quality of the builder. If the builder does not finish the building it can be very difficult to sell an unfinished home without providing a significant discount on the price. Even if the builder does finish the home, if the quality of the finished home is poor then the value may be less than expected.
Lenders don’t like taking on a lot of risk and will put in measures / requirement to reduce this risk. In the case of lending to build a home some lenders offer home construction loans, with all their strict criteria, specifically for this purpose.
Typically, a qualified and licenced builder must be engaged. Furthermore, the lender will want you to have a fixed price contract (not a cost plus) with the builder so the lender knows exactly how much it will cost to finish the building. Owner builder construction loans are available but generally only for builders who are building their own property. This means that you may have an especially hard time finding an institution to finance your project if you are intending to be an owner builder.
Having a fixed price with a licenced builder is only one of the many requirements of getting a construction loan.
Did you know that some lenders will allow you to use a construction loan for a three or even four units/townhouses development? If you are undertaking a small development contact us to go through your options.

Find out more about construction loans

Find out about the requirements and process of getting and using a construction loan. Everything you need to know.

Construction loans

Oak Laurel Mortgage Brokers – Construction loans made easy!

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95% Investment property loans; 90% LVR Investment loans

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95% Investment property loans; 90% LVR Investment loans: What is the maximum loan to value ratio for investment property loans – July 2015

NOTE: Bank policy is now in a state of change this information is only valid at the time of writing 29 July 2015.
Bank policy has been changing recently. Some banks have stopped lending to investors. Others banks have reduced their loan to value ratios available on investment property lending and or increased their interest rates for investment property lending. There has also been changes to the serviceability calculators used by banks and lenders that reduce borrowing power in many cases.
We have been getting inquiries from property investors asking:
“Is it still possible to get investment property loans at 90% loan to value ratios (LVR / LTV)?”;
“Can I get an investment property loan with 10 percent down?”
“I have bought ‘off the plan’ can I still get a higher loan to value ratio investment loan?”
“What is the maximum investment property loan to value ratio available now”
“Will I need to pay much higher rates on an investment property loan now?”
Whilst many lenders have changed their policies other lenders have not, well at least not yet.

Is it still possible to get investment property loans at 90% loan to value ratios (LVR / LTV)?

It is still possible to get investment property loans to 90% loan to value ratio (LVRs) from some lenders. However, the number of lenders offering 90% loan to value ratio investment property loans are much less than before.

Is it still possible to get 95% investment property loans?

Yes, it is still possible to get investment property loans at 95% of the property value (LVR). However, because bank policy is changing rapidly it is advisable that you contact us immediately before this situation changes.  Contact us now for a 95% Investment property loan!

What is the maximum investment property loan to value ratio available now?

The maximum investment property loan to value ratio available is currently 95% LVR. Many lenders have stopped offering 95% loan to value investment property loans but some lenders are still offering these high LVR loans for investors. This lenders are generally not deposit taking institutions that are regulated by APRA. Instead they are regulated by ASIC. However, it is likely that in the near future ASIC may pressure these lenders to also reduce investment lending and they will also introduce policies similar to those of the major banks. Contact us now for up to a 95% Investment property loan!

Can investors still get competitive interest rates for investment property loans?

Yes, investors can still competitive interest rates from some lenders it is advisable that you get your investment property loan approved as soon as possible to avoid a nasty surprise when shopping for low interest rates for investment property lending.

I have bought ‘off the plan’ can I still get a higher loan to value ratio investment loan?

If you have bought off the plan and you are settling within the next few months you may want to contact us to check what options you have. Some lenders have longer periods where they will honor a loan approval before settlement. Contact us now for a high LVR investment property loan!

Why use Oak Laurel mortgage brokers for your investment property loan?

Oak Laurel mortgage brokers have access to a wide range of lenders and wide range of loans. Some mortgage brokers only have access to a smaller number of lenders and loans this can restrict your ability to access those lenders that have policies that suit your needs, including if you are property investor. This includes those lenders that currently still offer high loan to value ratios for investment properties.

Contact an Oak Laurel mortgage broker

Don’t delay act NOW!

+614 30129662

Oak Laurel Mortgage Brokers – Investment property loans made easy!

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COBA concerned about vertical integrated mortgage brokers

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The Customer Owned Banking Association has raised concerns about mortgage brokers in a submission to the parliamentary inquiry

The Customer Owned Banking Association (COBA) has raised concerns about mortgage brokers in a submission to the parliamentary inquiry into home ownership. COBA’s concerns include a misunderstanding of brokers limitations as far as lenders and products offered, obligations of the broker when offering products to the customer and the lack of disclosure regarding vertical integration in the mortgage broking industry.
According to the Mortgage and Finance Association of Australia (MFAA), aggregation/mortgage broker groups that are owned by the big 4 banks, totally or substantially, comprise an estimate of 40% of mortgage brokers. The COBA has strongly and repeatedly opposed vertical integration of mortgage broker groups with banks in the past.
Consumers (You) are right to be concerned about mortgage brokers being owned by the banks and lenders. Many of which have access to only a limited number of lenders and loan products, which may result in customers being directed to their owner’s (Banks) home loan products. Consumers want to visit a mortgage broker so that you can select from a wide range of lenders and loan products. If consumers wanted to go to a Bank and and over pay, then they don’t need to go to a bank owned mortgage broker, just be be fed that bank’s products. Consumers expect that a mortgage broker is owned independently from the bank.

• Oak Laurel mortgage brokers are NOT owned by a big bank or other lender.

• Oak Laurel are mortgage brokers owned independently from the big banks.

• Oak Laurel are family owned mortgage brokers!

Oak Laurel Mortgage Brokers – Home loans made easy!

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New investment property loan rules: who are the losers

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First home buyers buying an investment property will be big losers from bank policy changes

First home buyers buying an investment property for the benefits of rental income and negative gearing will be big losers from the new lending requirements

Why would first home buyers buy an investment property?

With prices already high in Sydney, which first home buyer can afford to purchase an owner occupied home to live in? Super rich? People who want to spend most of their income repaying their mortgage? As a first home buyer, regardless of if you are buying in Sydney or another place, it can make sense to buy a first home as an investment property. The rent helps to make the mortgage payments and negative gearing helps out at the start when there is a shortfall between the rent and the mortgage interest.

What makes it harder for FHB to borrow for an Investment property now?

With lending policies making it harder to get higher loan to value ratio loans for investment properties, now first home buyers buying an investment property must somehow find additional savings to put towards the deposit. However, in rising markets like Sydney and Melbourne, property prices are rising faster than many first home buyers can save for the deposit especially when a larger deposit is required.

So what is the answer for first home buyers taking out an investment property loan?

If the first home buyer has family that want to help and the family member has equity in their property a guarantor home loan may be a good option.
Find out about Guarantor home loans here:
Guarantor home loan

Others can still access higher loan to value ratio loans for investment properties.

Don’t have family that can help you out? Maybe you are not even a first home buyer?
Some lenders are still lending at higher loan to value ratios for investment property loans. The many banks may have cowered to the pressure of the APRA but other non-bank lenders are not regulated by APRA and are operating as usual for investors.
It will be these non-bank lenders that will benefit from APRA’s crackdown as investors seek new ways to invest with leverage.
Need a hand to sort through the maze of lenders and their ever complicated lending policies?
Oak Laurel has mortgage brokers many of Australia’s major cities (Sydney, Melbourne, Brisbane, Adelaide, Perth and more). Contact an Oak Laurel mortgage broker near you to find out what your borrowing options are in the new lending environment.
Mortgage broker in Adelaide

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Will these new bank rules stop price rises in the housing market?

No, this is not the prick that bursts a bubble. There is still plenty of demand for property in Australia both from locals and foreign investors. Property investors borrowing to buy property may get a little spooked when they walk into their local bank branch and get told ‘no’. However, smart investors will go to a good mortgage broker, like Oak Laurel, and find out that there are still lending options available.
The rules are not designed to stop gains in the property market. In fact they are in effect designed to keep the property market going strong. The measures are designed to ensure that major banks are not too heavily secured by investor loans. It will really give the non-bank lenders who are not regulated by APRA a selling point and introduce a bit more competition into the investment property loan market and home loan market more generally.

Oak Laurel Mortgage Brokers – Home loans made easy!

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457 visa home loans up to 90% no LMI for Medicos

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Changes to lender policy means that more types of medicos on 457 visas can borrow up to 90% of the property value without Lenders Mortgage Insurance

The changes mean that more 457 visa medicos (doctors, vets, chiropractors, physiotherapists, medical specialists, dentists and optometrists) will be able to enter the property market earlier while saving the expense of lenders mortgage insurance on borrowing up to 90% of the property value.  The Lenders mortgage insurance waiver is a distinct advantage for medicos as lenders mortgage insurance  can amount to thousands of dollars.
The deal also gives a boost to regional areas as this is where many of the medicos (doctors, vets, chiropractors, physiotherapists, medical specialists, dentists and optometrists) who are on 457 visas are based.

Are you a medico on a 457 visa?

Find out more or contact us about the a medico home loan for 457 visa holders:
Home loans for medicos on 457 visas

On a 457 visa but not a medico?

457 visa holders can get home loans from Australian lenders however, if you are not a medico you will need to pay lenders mortgage insurance when you are borrowing more than 80% of the property value. Find out more about home loans for 457 visa holders here:
Home loans for 457 visa holders

Oak Laurel Mortgage Brokers – Home loans made easy!

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Can i get a loan on a 457 visa

Can i get a loan on a 457 visa

A common question that 457 visa holders ask when they come to Australia is "Can i get a loan on a 457 visa?".

The answer is yes, you can get a home loan whilst on a 457 visa!

Some lenders will approve home loans for 457 visa holders. However, this is not widely known even with the bank branch loan officers of the banks that do offer home loans for 457 visa holders.

So what is the solution? Contact Oak Laurel mortgage brokers. Oak Laurel mortgage brokers have a team of specialist lending experts that know the about the different options available for 457 visa holders, and most importantly, how to get the loan approved!

Avoid the disappointment of having your loan rejected use a mortgage broker like Oak Laurel that has a lending team that specialises in home loans for non-resident and temporary visa holders!

See more information about home loans for 457 visa holders here: Home loans for 457 visa holders

Why use a mortgage broker?

Rhetorical question, of course you should use a mortgage broker!

So what is the advantage of using a mortgage broker?

Watch the video below:

Video source: Mortgage Broker Wiki

Mortgage Brokers Adelaide

Oak laurel are now providing mortgage broker service in Adelaide, Australia. Oak Laurel's Adelaide mortgage brokers have expertise across the full spectrum of finance types and can assist you with:

·        Home loans, First home buyer loans, Investment property loans, refinancing, temporary visa home loans, work permit home loans including home loans for 457 visa holders & foreigner investment property loans, home loans with lenders mortgage insurance waived or home loans with interest rate discounts including home loans for accountants, home loans for vets, home loans for optometrists, home loans for medical doctors, home loans for dentists, home loans for chiropractors and other professionals.

·        Property development loans, construction loans, including multiple units on the same title.

·        Commercial property loans, lower interest for commercial property secured against residential property loans.

·        Self Managed Super Fund SMSF residential and commercial property investment loans.

·        Commercial loans

·        Car loans

·        Personal loans

Why is using an Oak Laurel mortgage broker Adelaide service a good choice?

Using Oak Laurel's mortgage broker Adelaide service is a good choice because:

At Oak Laurel we aim to provide you with outstanding customer service. This means fast response times, excellent knowledge, honest advice. We work hard and smart to maximise your benefit. Oak Laurel's Adelaide mortgage brokers have access to a wide range of lenders and loans, this gives you many choices.

If you would like for us to assist you in arranging a home loan or other loan please phone us on 0481 368 884 or email us on info@oaklaurel.com.au.    

Oak Laurel

www.oaklaurel.com.au

info@oaklaure.com.au