We recently invited Colin O’Loughlin, Director and Mortgage Broker of Arch Brokerage to the webinar. Here’s what he said –
Traditionally, whenever you’re applying for a loan, the bank will add around a 3% buffer on top of what the normal interest rate is. As interest rates go up, the bank will try to fund that loan based on it being a high 8% interest rate.
A lot of these lenders bring in a 1% buffer, or sometimes a no-per cent buffer in order to allow you to look at your borrowing capacity, does it give you the ability to do that and move between lenders without actually being held in the one lender all the time?
If you want to see if there’s something that you’re eligible for on that front, or maybe you’ve looked into this process and you feel like, “You know what? I do feel like I’ve been a bit of a mortgage prisoner. I’ve got no options.” Feel free to reach out. We’ll be more than happy to provide you with some options in that space.
If you’re keen to explore changing accountants, we have a non-obligation process to do that. The first step is booking a strategy call with one of our accounting team. It’s a free 20-minute zoom or phone call where you get to meet us to manage your questions.
From that point, you can consider doing a “Look Under The Hood” with us. There is no obligation to change accountants, but we give you a second opinion if you’re paying too much tax.
Throughout that process, we can identify any problems we see with your current setup. Anything that your current accountant hasn’t claimed, or tax you may have overpaid, and strategies of how we might fix that going forward. We can run through with you once you book with us.
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