Peace of mind with the Loan Studio
Peace of mind with the Loan Studio
Whether you are a first home buyer, upgrader, retiree or investor, we all need to have our ducks in a row when it comes to the money situation before we can take the home ownership plunge. Generally, the first step many new home buyers take is to do a self-assessment / pre-qualifier loan calculator as a guide to their borrowing capacity, available on many websites. Colin Sheppard, Managing Director of award winning home loan specialists, Loan Studio, warns home buyers to be wary of generalist calculators.
‘Generic loan calculators are based on only a few basic criteria and don’t capture all the liabilities and expenses we are exposed to in life, so really can portray a false guide for borrowing capacity.’
While it can be a great stroke to the ego to go through all the bank sites until you find the lender who will grant you the most money, what is much more important is finding a finance solution that is tailored just for you. The team at the Loan Studio are industry leading, MFAA mortgage brokers and construction loan specialists (construction finance differs in structure to standard home and personal loans) who simply ‘take the hard work out finding the right loan’ for you. They have long standing relationships with a diverse range of lenders and take great pride in their team’s extensive product knowledge, which often results in faster and more efficient approvals for clients.
Long term strategic partners with Carlisle Homes, the Loan Studio team are located throughout the display home network which means you can speak to a finance expert at the same time as a new home consultant resulting in a very comprehensive quote and lending appraisal. In line with Carlisle’s back to back 2013/2014 HIA Customer Service Awards, Loan Studio focuses on a professional, honest and approachable service.
‘Buying property can be a very stressful time for all purchaser, add in the daunting task of comparing banks and loan products and maybe selling your current home, it’s easy to get overwhelmed. It is one of the biggest decisions many of us make, and it should be memorable for all the right reasons!
The Loan Studio process is to create a partnership with the Carlisle Homes clients and their home consultant to create a comprehensive approach, all working together for the best solution for the home buyer. For clients who already have their new home finance all organised, Loan Studio will happily provide a no obligation assessment of your arrangements to evaluate if any further benefits can be achieved.
Colin tells us his top finance tips for those just starting the new home buying journey,
- Take the time to list out your weekly expenses and be honest!
- Start a file with relevant historical paperwork, like payslips and tax returns
- Set a budget to determine how much you can afford to pay towards a mortgage monthly
(hint – make sure you understand the impacts of future interest rate increases given rates are at historic lows)
- Establish a clear savings goal so you can maximise your deposit
- Understand what your upfront costs will be (mortgage insurance, stamp duty etc)
- Improve your loan approval chances with good payment behaviour now
- Seek professional financial advice and a home loan that is tailored to your individual needs
Loan Studio consultants are also available at the Carlisle Homes head office to provide further advice and services at tender, contract and Spectra appointments, providing genuine peace of mind for clients throughout their journey to home ownership.
- Somerfield Estate, Keysborough
- Berwick Waters, Clyde
- Williams Landing Estate
- Warralily Estate, Geelong
- Aston Estate, Craigieburn
- Berry Lane Estate, Mernda
- Carlisle Homes Head Office, Mulgrave
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