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A Day In The Life Of A Mortgage Broker

If more people understood the role of a mortgage broker, then perhaps more people would utilise one – so what does a typical day for a broker look like?

As of 2020, 6 in 10 Australians used a mortgage broker to assist them in acquiring a home loan to purchase property – the highest that it has ever been. What’s more is that 90% of these customers reported that they were happy with the services provided to them. If the feedback is that good, then why aren’t more Aussies using one?

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Well, to put it simply – the world of banking is big business, and as such, there are many lending providers to choose from. Since purchasing a home is generally not an everyday purchase for most Australians, navigating the many finance options can be overwhelming – which is where the services of a mortgage broker can be a life saver.

In a nutshell, the role of a mortgage broker is to act as an intermediary, or someone who navigates home loan products and their applicable terms on behalf of individuals or businesses. They serve as the ‘middleman’ between the lender and the borrower and handle the time-consuming process of securing the loan and gathering the considerable paperwork involved.

However, the everyday tasks performed by a mortgage broker are often vastly different than what most people would assume. If you’re considering partnering with a broker to obtain a home loan – or are perhaps even considering becoming one – what’s it all really like?

Get To Know A Real Life Mortgage Broker 

With a dual degree in Law and Commerce (Accounting), Brisbane local Costa Demetriou has certainly been a busy man over the course of the last few years. After working as a legal clerk and an accountant, Costa joined the team at Madd Loans in 2017. Regarded as Brisbane’s most innovative and award winning mortgage broking firm, the team at Madd are just as diverse as their many clients. 

His unique background in the finance field brings a unique insight into the industry for Madd customers. Costa loves the ethics of Madd – which he refers to as “a company loyal to its customers, not the banks”. A community man, Costa has also been volunteering at the Greek Paniyiri Festival for over thirteen years. Never one to sit still, on most weekends you’ll find Costa attending open homes in the Brisbane region, to ensure that he’s always up to date on the area’s property trends – and yet, Costa still ensures that there’s still time to schedule the all important backgammon game every Sunday with his beloved Pappous. Needless to say, as one of Madd’s go-to mortgage brokers, he’s certainly learned a lot during his time under the wing of Madd Loans founder and finance powerhouse, George Samios. 

“My day to day life as a mortgage broker is everything and nothing like what I thought it would be when I originally joined the Madd Loans family. From day one, my mentor George drilled into me a distinct code of ethics of sorts in regards to always putting the best interests of our customers first. It doesn’t matter if you hold personal preferences in regards to certain lending providers or loan products, because each and every one of our clients will have different needs from their home loan. Being a good mortgage broker requires honesty, innovation, tenacity and a proactive approach at all times.”

At Madd Loans, every mortgage broker learns the ropes from the ground up. New recruits almost always begin their broking career as a junior credit analyst, before working their way up to more senior positions within the business. According to Costa, this “apprenticeship” helps to ensure that the Madd mortgage brokers understand the ins and outs of the world of home loans from every level. However, what he didn’t bank on was the education of sorts that the clients themselves provided him along the way too. 

“I learned very early on that the relationships between the Madd Loans team and our customers formed the backbone of our business. Without them, none of us would be where we are today, and it’s so much more than just a transaction. A good mortgage broker needs to understand the long term goals of clients in order to help them in every sense of the word. From $500,000 loans to $5,000,000 loans, every client deserves and receives the same level of service, as we place an enormous value on the customer experience they receive as a means to forge a life long partnership. Personally, one of my favourite parts of the job is seeing my clients in the real world. Whether it’s over a coffee or just having a quick chat in the street, the feeling of contributing to my local community is really what gets me excited about going to work every day.”

One common reason that consumers stick with a bank that they’ve used all of their life is security – after all, they’re unlikely to go bust anytime soon. The thing is though, banks are not obliged to ensure that your interest rates are competitive, and are generally not renowned for rewarding loyalty. In comparison, enlisting the services of a mortgage broker is essentially like adding a star player to your finance team, who does the leg work on your behalf as a means to cut down on time, stress, and ultimately, get you the best and most suitable deal on a home loan – but where do you find one?

Partnering With A Brisbane Mortgage Broker

Getting preapproved for a home loan has long been regarded as stressful, frustrating and time consuming – but the good news is that it doesn’t have to be.

Since their inception in 2012, the team at Madd Loans have worked tirelessly in providing over 2,000 Queenslanders with finance options to help turn their dreams into reality. With the entire brand being built on referrals, owner George Samios takes great pride in making the loan process both fun, educational and stress free – and he has a swag of awards to prove it.

If thinking about your financial future strikes a chord with you, then it might be time to speak to a professional. Whether you’re chasing mortgage solutions or a financial fairy godmother, the team at Madd work together as a collective to turn your goals into reality.

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Your Guide To Buying In A Hot Market

If you’re one of the many first home buyers feeling disheartened by the current outlook for real estate, here’s how to navigate buying in a hot market.

It’s clear to see that these unprecedented times have contributed significantly to an unparalleled real estate market. Industry experts have indicated that record low interest rates, a change in spending habits and swarms of Australians relocating as a means to escape lockdowns have all heavily contributed to the current boom, with demand far exceeding supply in many corners of our great nation.

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While this seems like good news if you are considering selling property, with the way the market is at the moment, it is posing difficulty for those who are trying to tackle buying in this hot market. When it comes to the property outlook around Australia, time on the market seems to be low, settlement turnaround times faster, and auction clearing rates high. On top of this, properties are skyrocketing in price, with Brisbane alone seeing an 18.5% increase in September 2021 when compared to the same time last year. 

Many first home buyers have already done the hard yards when it comes to meticulously saving enough cash for their deposit, curbing their living expenses, and getting all their ducks in a row to be ready to purchase a home, only to be outpriced or not quick enough to make serious offers. However, it’s not all doom and gloom, and there are still many tactics to deploy if you’re buying in a hot market.

Five Tips For Buying In A Hot Market

What we refer to as a ‘hot’ market is when there are too many buyers competing over a limited amount of properties for sale, or properties that are selling at prices far higher than they once would have just a short time ago. Key indicators of a hot marketplace can also include the median average price of homes rising in a particular suburb, less real estate advertising, and even properties that go live on the likes of RealEstate.com.au with ‘under offer’ banners already listed.

While buying in a hot market can bend the traditional rules of how real estate works, there are still a few secret weapons that first home buyers can deploy as a means to get into their first home faster while sticking to their budget.

Get A Pre-Approval – The golden rule of buying in a hot market is to have your financials as organised as you possibly can. When there’s 20+ people competing over the same property, many real estate agents are actually ignoring offers from those who don’t have proof that they are armed with a pre-approval from a lending institute.

Prepare To Compromise – Many first home buyers make the mistake of approaching their first property purchase with rose tinted glasses, and get disheartened if they can’t find their ‘forever’ home. Instead, approach the task as an investment and be realistic on things like suburbs, the aesthetics of a property, and think pragmatically like a property baron would.

Be Aggressive – Dithering and ‘umming and aahing’ in a hot market will not do you any favours. Instead, make offers confidently and quickly to show that you’re a serious bidder to avoid missing out. It’s also worth getting to know the real estate agent as well as you can to ensure you are a memorable candidate – even a gifted bottle of scotch doesn’t go astray.

Simplify The Process – When buying in a hot market, always remember that most sellers are looking for the highest price with the fastest turnaround time, and can view certain contract contingencies such as inspections and finance clauses as potential reasons for the deal to fall through. As such, try to minimise your clauses to the essentials whenever possible.

Stick To Your Budget – It’s the role of a real estate agent to favour their seller, not the buyer. Beware of pushy sales tactics that are ultimately there to drive the property’s price up, and don’t fall victim to panic buying. While there’s plenty of things to compromise on, one thing buyers should not budge on is their budget. This will save them from over committing in the long term. 

Now more than ever, it’s important to do your research when it comes to navigating how real estate works in Australia. With some of the more prominent lending institutes such as Macquarie Bank and the Commonwealth Bank approving home loans in under two business days, it’s worth partnering with a reputable mortgage broker to help you make the most of the current interest rates, terms and ultimately finding a pre-approval that’s best suited to you and your lifestyle.

Securing A Pre-Approval With The Professionals

Getting preapproved for a home loan has long been regarded as stressful, frustrating and time consuming – but the good news is that it doesn’t have to be.

Since their inception in 2012, the team at Madd Loans have worked tirelessly in providing over 2,000 Queenslanders with finance options to help turn their dreams into reality. With the entire brand being built on referrals, owner George Samios takes great pride in making the loan process both fun, educational and stress free – and he has a swag of awards to prove it.

If thinking about your financial future strikes a chord with you, then it might be time to speak to a professional. Whether you’re chasing mortgage solutions or a financial fairy godmother, the team at Madd work together as a collective to turn your goals into reality.

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The Brisbane Home Show Is Back

With the Convention Centre set to transform into a hub for all things property, join Madd as we share our industry insights at the 2021 Brisbane Home Show.

We’re spending more time at home than ever before, so it seems only natural that we want our homes to be nothing short of perfect. Home owners usually undertake renovations in the hope of increasing the value of their property, or to present the home in question in the best possible light to potential buyers. On the flip side, many homeowners are opting for a renovation as a means of upgrading their existing property instead of selling and purchasing another that’s more in line with their needs. 

Thanks to having extra time or extra funds on their hands, many homeowners are trying their hand at renovation for the first time. As most of us are aware, Australia’s property market is currently running hotter than ever. Thanks to demand outstripping supply, stay at home orders, and savings on what would normally be for the holiday fund, this unique combination of factors has created the perfect storm for many homeowners to consider renovating instead of selling to bring their property vision to life.

When it comes to home renovations, getting the ball rolling isn’t always easy. You might have an idea of what your perfect home looks like in your mind, but no idea as to how to get there. As such, events like the Brisbane Home Show have become a mecca for those who are on the hunt for some advice, inspiration or even just to get a better idea on their options.

Your Guide To The 2021 Brisbane Home Show 

Scheduled to kick off on Friday 10 September and running until Sunday 12 September, the 2021 Brisbane Home Show is a free ticketed event that celebrates all things property. With hundreds of innovative home products, exclusive show specials for attendees, free seminars, expert advice, and some of the best homegrown Australian renovation businesses, attending the Brisbane Home Show is a must for any Queenslanders that are about to embark on a home renovation project or are in the midst of one.

With over two hundred exhibitors scheduled to appear at the Brisbane Home Show, such as Big Sky Energy, Better Living Australia and All Turf Solutions, some of the featured activities penciled in for the home show include:

EcoTown – An interactive and educational feature focusing on sustainability and making modern residential homes more eco-friendly.

Staycation Resort – A destination to be inspired by the best in alfresco living, including pools, spas, decking, fire pits, outdoor furniture, and BBQs, and how to turn your home into a resort.

Seminar Series – The go-to for expert advice on everything from renovating, architecture all the way to building, along with discussions on specific kitchen and bathroom tips and trends.

Cooking Stage – Find all the inspiration you need to make restaurant-inspired dishes at home, with professional chefs cooking up some delectable treats every day.

Home Hub – Practical and real-world advice from industry specific trades, who are on hand to outline tips, tricks and helpful insights to make the renovation process run smoothly.

Show Specials – The eShowbag is packed with discounts and giveaways for attendees to make the most of, to make their home renovation project cheaper and easier.

Of course, renovating a home isn’t cheap, which is why Madd Loans will also be attending the Brisbane Home Show to provide attendees with advice and insights on how to finance their home renovation project. Whether you’re looking to buy a ‘fixer upper’ or perhaps give your current home a face lift, having a highly regarded mortgage broker on your team can help to ensure that the process for finance is streamlined and stress free.

Navigating The World Of Finance With The Professionals

Getting preapproved for a home loan or finance has long been regarded as stressful, frustrating and time consuming – but the good news is that it doesn’t have to be.

Since their inception in 2012, the team at Madd Loans have worked tirelessly in providing over 2,000 Queenslanders with finance options to help turn their dreams into reality. With the entire brand being built on referrals, owner George Samios takes great pride in making the loan process both fun, educational and stress free – and he has a swag of awards to prove it.

If thinking about your financial future strikes a chord with you, then it might be time to speak to a professional. Whether you’re chasing mortgage solutions or a financial fairy godmother, the team at Madd work together as a collective to turn your goals into reality.