In our fourth work partner series installment, we cover the role of Mortgage Broker.
The Mortgage Broker has a big part to play in the process of purchasing a property and a good one can save you significant money.
We recently worked with Kin Fei Chan from Astute based in Cairns, North Queensland.
Kin Fei was recommended to our buyer from a friend.
First Home Buyer Mortgage
We were helping a first home buyer purchase a 2 Bedroom unit in North Ryde, Sydney. Kin Fei was helpful from the start and guided the buyer through the process.
The buyer spoke to Kin Fei first to organise the pre-approval. Then they put in the offer.
This was for an off the plan resale, where the previously interested party decided not to go through with the settlement.
Inside the North Ryde property:
Unconditional Loan Approval
This left a short window to arrange all the finances to meet the settlement date.
The settlement date was set by the developer and any delay would incur a penalty interest fee.
Working within the tight deadline he was able to value the property and get approval on the unconditional loan.
The process was going to take two weeks but he managed to cut it to one week. His diligence paid off, he had under promised and over delivered.
In the current market, it’s harder to get a loan through in a short amount of time, so this was an excellent outcome.
This saved the buyer around $950 in late fees.
Mortgage Broker Service
Kin Fei provides broker services for buyers in different cities including Sydney, Melbourne, and Brisbane. His clients are both investors and first home buyers and this broad background enables him to see the buying process in a more holistic way.
We have found Kin Fei to be exceptionally good at what he does, he is both responsive and thorough.
He showed that he is a team player, working well with all the different parties involved. Particularly in updating the buyer and their solicitor. This is really reassuring from an agents perspective.
Kin Fei provided a quality service to our buyer and we would definitely recommend Kin Fei to our clients.