I received a phone call today from a home owner looking to purchase a 2nd investment property.
He and his wife have a good relationship with a major bank that has looked after their finance needs for a number of years.
He called their accountant to discuss options how to structure their proposed purchase.
During their conversation, the accountant asked if they were using a broker or going direct to their bank.
Upon hearing they would go direct to their bank, the accountant encouraged them talk to a broker (I have no association with their accountant).
The ‘hoops and hurdles’ lenders are asking borrowers to jump is now the new ‘norm’.
What was seen as a straight forward transaction 6 months ago may turn to disappointment today.
For all your finance needs, call me today on 0417 649 145