In an ideal world, you could have selected a property, obtained its paperwork, walked into a bank and would have secured property finance. Perhaps you have found your perfect place in Bondi, unfortunately, that’s not how reality works.
You have selected the right property. Next step is for you to choose the right bank, understand the various pros and cons of every type of property finance available to you and then you should be ready with all the applicative requisites that any bank would demand from you.
Getting property finance in Bondi or anywhere else in the country, is not a cakewalk. Certainly not how some loan comparison websites would like you to believe! A loan, or any financial product is not as simple as a loan amount, term and rate of interest. It is not as black and white as you would think. There are various complicated aspects of any type of property finance and that is where the expertise and experience of professional consultation becomes relevant and rather quintessential.
You may check out a few loans from a few banks and then you may consider the one with a relatively lower rate of interest to be a better option. But you need to know the fine print, the various kinds of fees being charged and you must be sure of qualifying for the loan in the first place. Banks don’t treat owners-occupiers and property investors the same way. There are even different rates of interests applicable to the two types of applicants. Residential and commercial property finance are also substantial different.
You cannot have a generic approach to securing property finance and you cannot do the normal math to determine entirely if one is better than the others. You must delve into the details and unless you are proficient of dealing with banks and the nitty-gritty of property finance, you will need someone to help you.
Professional help to secure property finance will lead you to choose the right bank, the ideal type of loan, you would be able to put together everything necessary so your application doesn’t get rejected, you will have experts on assessing and evaluating the property you have chosen and legal professionals will work on the exposure that you may have or any clauses of the property finance that may work against your best interests.
From assisting you with paperwork to actually securing the best property finance, professional consultation and services will always get you the finest solution. With these services, you could secure your perfect pad in Bondi!