Are you a professional investor with a high net worth and several investment properties?
As your wealth grows, don’t you become fed up with dealing with bank managers and mortgage brokers who do not appreciate your business or understand your strategy.
Our team of specialist mortgage brokers can help with our exclusive ‘High Net Worth Clients’ package.
Who Can Qualify?
To qualify for our ‘High Net Worth Clients’ package you must meet the following criteria:
- Have net assets of over $1,000,000.
- Have current loans, or applications to apply, for over $2,000,000.
- Have a sound knowledge of property investing and a proven strategy.
In some cases, we can make an exception for property investors who have lower assets or a lower loan amount albeit you’ll still need to earn a substantial income.
For more information, please call us on 1300 889 743 and discuss your situation with one of our senior mortgage brokers.
Who is this suitable for?
Although our special package is suitable for all high net worth individuals, it is particularly well suited for:
- Time poor individuals.
- People with complex trust structures or joint ventures.
- People who are planning to rapidly grow their property portfolio.
Did you know that the advertised pricing is not the best that a bank can offer? As a retail client of the bank you can never really be sure that what they are offering you is the best that they can do.
In addition to this, the ability of a bank to offer special pricing will fluctuate depending on their wholesale funding position.
If a bank has a loan book that is too heavily weighted with investors or people borrowing over 80% of the property value then they may stop offering special pricing for these segments. If their loan book is not balanced then wholesale investors see the bank as a higher risk and the bank’s cost of funds will increase.
As your mortgage broker we know exactly which banks are currently offering the most competitive negotiated pricing for people like you with your loan size. As one of Australia’s largest specialist mortgage brokers, we are in an excellent position to negotiate the best possible interest rates from our panel of lenders and in some cases LMI waivers for our clients.
How can I qualify for waived LMI?
Waived LMI is suitable for most people borrowing over 80% of the property value. However, not everyone qualifies for this kind of discount.
Some of our lenders offer this as a special discount based on your profession. To qualify you must be any of the following professions:
- Engineer (Mining)
- An eligible professional athlete
- An eligible entertainment professional
Other professions may qualify for waived LMI if their loan is under 85% of the property value, they have a strong income and asset position.
Free property reports
Are you paying for a membership for RP Data, Residex or Real Estate Investar? Our company subscribes to various property data services and can assist your investing by providing you with reports for locations or specific properties that you are interested in.
With the right information you can accurately work out the value of a property that you are interested in buying even if you are not familiar with the area.
Free bank valuations
Has a bank valuer put a stop to your plans? Each bank has their own panel of valuers and once they have received a valuation then they must use it. They can order another valuation but their policies state that they must use the lower of the two, so there isn’t much point!
There are often very large differences between the valuations obtained from two different banks.
Several lenders allow us to order free bank valuations before a loan application has been submitted. This can help you to choose the lender from our panel that has the best valuation for your properties, which in turn allows you to release the maximum amount of equity for your future purchases and accelerate the growth of your portfolio.
Please note that while we always want to look after our clients, we will not order bank valuations unless you are intending to obtain finance on one of your properties. We believe in playing fair which means not wasting a bank’s money unnecessarily when they have generously given us this free service.
Do we charge for these services?
While many other specialist mortgage brokers charge their high net worth clients and annual fee for these additional services, we do not charge any extra for these services.
For most clients our services are free. Please refer to our fee schedule for a list of the situations where we will charge a fee.
What special services do we offer?
In addition to our standard services you will receive a range of additional benefits. Our aim is to:
- Minimise your involvement in each purchase.
- Provide free access to property reports.
- Provide free bank valuations.
- Maximise your borrowing capacity.
- Completely understand your investment strategy.
- Reduce communication problems between your professional advisors.
- Work with local bank branches to provide a holistic service.
- Negotiate specialised pricing for your loans.
- Negotiate policy exceptions based on our reputation as well as your experience, income and asset position.
- Help you to build a relationship with the banks that will support your plans.
How we can reduce your involvement
We find that many professional investors end up spending too much of their time trying to manage their investments. In particular, when they are purchasing a property there are many things that need to happen and people who need to communicate to ensure a smooth transaction.
The main problem most investors face is that their accountant, solicitor and mortgage broker do not talk to each other. The investor ends up managing their advisors which greatly increases their work.
With your consent, we can work directly with your advisors and include them in all of our communications to you. This ensures holistic advice from an accounting, legal and finance point of view. We understand that your accountant’s recommendations to minimise your tax need to be combined with our mortgage recommendations to ensure the optimum outcome for your situation.
We can also hold onto your supporting documents and data so that each time you need to apply for a loan you do not need to waste time looking for documents.
Maximising your borrowing capacity
Did you know that each lender assesses your ability to repay your loans in a different way? In particular this is true for investors with several investment properties. You can use our ‘How much can I borrow?’ calculator to see how three of our lenders would view your situation.
The key to maximising your borrowing power is understanding how the banks assess the repayments for your existing mortgages. In particular, some lenders are very conservative with investors who are making interest only repayments.
If your borrowing power is a concern, then we will normally lend as much as possible using a lender which is relatively conservative before switching to another bank with a more favourable approach for investors.
Please note that we believe in responsible lending and will not assist you to borrow more than we believe that you can afford. If you are borrowing close to your limit then we will discuss strategies with you to reduce your risks.
Understanding your investment strategy
Most bank managers and mortgage brokers do not understand complex investment strategies or only focus on the current transaction that they are working on.
The problem with this approach is that many investors find themselves in a situation where they cannot borrow more money, where their properties are cross securitised or where they are effectively handcuffed to their lender. Some investors even need to refinance their entire portfolio because their loan structure did not match their strategy.
Our goal is to align our mortgage recommendations with your future plans. We want to see you in a position where you are not tied to just one lender, which puts you in a position of power to negotiate better interest rates and lending policy exceptions. This also enables you to grow your portfolio quickly and efficiently.
All of our mortgage brokers have had formal training in various property investment strategies and many of them have built large property portfolios themselves.
Working with bank branches
We have agreements with several bank branches which can help us to sort out other banking services for your business, personal or insurance needs. This means that the entire job is completed, not just part of it.
The problem with most mortgage brokers is that they only handle the mortgage. However the problem with most bank managers is that they only handle the products from their part of the bank such as retail or commercial products. In addition to this they won’t tell you if another bank is more suitable for your needs.
By working with the branches and commercial divisions of the banks we can take care of all of your needs.
Lending guidelines are just that, guidelines. Some of them are hard and fast rules, however if we can present a strong case and mitigate the risk to the bank then we can often obtain approval for something that is outside of the bank’s normal lending policy.
Many of our mortgage brokers have worked as a credit manager for one or more of the banks. Their inside knowledge and strong relationship with high level credit managers can enable us to help the lenders to use a common sense approach to your application.
In addition to this we have Australia’s brightest mortgage broker, who can assist our senior brokers with complex scenarios that the banks would not normally consider or understand.
For large exceptions to policy you must be borrowing less than 80% of the value of your portfolio as this avoids the need for Lenders Mortgage Insurance approval.
Do we provide financial advice?
We do not provide financial planning services, accounting, legal or other financial advice. We focus our efforts on being experts in mortgage broking and we prefer to work with your financial advisers to achieve the best result.
If you would like to find out more about how we can help you to grow your property investment portfolio, simply give us a call on 1300 889 743 or enquire online and ask to speak to one of our senior mortgage brokers.