July 1st marks a fresh start – and it’s the perfect time to get your finances in tip-top shape for your next property purchase! Our team of award winning mortgage brokers on the Gold Coast has put together some friendly advice to help you shine when it comes to loan approval.
Simple Steps Varsity Lakes Families Can Take Today
1. Tackle Those Credit Cards Start the new financial year by paying down credit card balances or, even better, closing cards you don’t use. Lenders look at your available credit limits, not just what you owe – so that unused $10,000 limit could be hurting your borrowing power!
2. Get Your Tax Return Sorted Early Lodge your tax return as soon as possible. Mortgage brokers love seeing up-to-date income documentation, and it shows lenders you’re organised. Self-employed? Make sure your accountant highlights all your legitimate deductions.
3. Build Your Genuine Savings Lenders want to see you can save regularly. Set up an automatic transfer to a dedicated savings account – even $200 per week adds up and shows great financial discipline.
Professional Help Makes All the Difference
4. Document Everything Keep payslips, bank statements, and employment contracts organised. Our team can guide you on exactly what documentation will strengthen your application.
5. Review Your Debt-to-Income Ratio Consider consolidating personal loans or paying off smaller debts completely. Our experienced mortgage brokers in Varsity Lakes and across the Gold Coast can calculate how this impacts your borrowing capacity.
6. Check Your Credit Score Get a free credit report and fix any errors. Small improvements can make a big difference to your loan terms.
7. Start Pre-Approval Early Don’t wait until you find your dream home! Award winning professionals can secure pre-approval, giving you confidence and negotiating power in today’s competitive market.
Ready to make this financial year your property year? Contact our friendly mortgage brokers today!
Arranging finance can be stressful, especially with some lenders now taking extra steps including going through your living expenses and credit scoring (ouch!). And sometimes banks can make you feel like ‘just a number’. That’s why we want to do things differently: because you deserve better.
As a local family-owned business, our team takes the time to listen, answer your questions and make getting your home, car or equipment loan as easy as possible.