C&G’s Guide to Choosing the Right Lender

Whether you’re signing up for your first home loan or expanding your investment portfolio, it’s important to get the right loan for you! An important decision, the ideal loan will suit your goals and provide a good balance of flexibility and structure. This C&G blog highlights key considerations you should make when choosing a lender.

Expand your search.

Some investors will choose a major bank to work with, whiles others prefer small or online-only lenders. One thing’s for sure: there is no one-size-fits-all solution when selecting a lender! Major banks may charge higher interest rates, but if you already bank with them you may benefit from a bundle offer or promotion. Some customers prefer a smaller or community-based bank because they’re able to dedicate more time to getting to know their clients and their aspirations. Your choice of lender may be influenced by the type of property you’re investing in, your income and credit history and your personal values.

Fixed or variable?

Fixed rates may work in your favour when interest rates are low, but they lack the flexibility offered by a variable rate. Keep in mind that you’ll be making mortgage repayments for many years, and both the economy and interest rates will inevitably change. Ensure you understand your lender’s policies regarding exit fees and additional repayments.

Look for clarity.

Ensure you understand the ins and outs of the options your lender is offering. What application fees are involved? Is there a property valuation or early exit fee? In some circumstances, you may also be required to pay for Lenders Mortgage Insurance. A good lender will be transparent and forthcoming regarding the costs involved.

Ask a professional.

It’s always a good idea to obtain a professional, impartial evaluation of your decision. When it comes to property finance, brokers are your go-to, supporting you to weigh up the best options from a variety of lenders. They are best-placed to assess your situation and advise you on appropriate lenders.

Chisholm and Gamon are pleased to recommend Aqua Finance as our go-to experts. They offer a personalised service for all kinds of lending – from assets and vehicles, to commercial and personal finance. With access to hundreds of loan options, you’ll be able to find a solution that aligns with your goals and circumstances.

Likewise, the friendly team at C&G are also here to answer any questions and direct you in the right direction. Talk to us today!



03 9531 1245
90 Ormond Road,
Elwood Vic 3184
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Black Rock

03 9589 3133
3 Bluff Road,
Black Rock Vic 3193
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Port Melbourne

03 9646 4444
1/103D Bay Street,
Port Melbourne Vic 3207
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