October 24, 2014 /MM-PressAdvantage/ —
Baulkham Hills, NSW – Despite the setback from the financial meltdown triggered by the collapse of subprime markets in the United States, Australia is seeing a rise in subprime mortgages. Master Mortgage Broker Sydney, one of New South Wales’ leading mortgage brokers, is capitalizing on this situation, making it easier than ever for “non-conforming” borrowers or those who would have been turned down in the past to purchase a home.
During the last year and a half, the international rating agency, Moody’s, reported the initiation of $3 billion of non-conforming mortgages in Australia. This upsurge is believed to be the result of an increase in the number of those who wish to own a home but who have less than stellar credit. Since these borrowers do not fit into the prime mortgage category, they are seeking subprime mortgages, mostly through mortgage brokers.
With this influx comes the challenge to borrowers to find the most reliable and reputable mortgage broker. Master Mortgage Broker, established in 2000, has long-term experience and connections with a wide variety of lenders, making them one of the top home loan experts in the area.
Covering most loans in the residential category, the company specializes in loans for first-time home buyers, owner occupied property upgrades, home loan refinancing, property investment loans, construction loans for new home and land packages, self-employed borrowers, and business loans that are secured by residential property.
For borrowers wishing to try again at home ownership, the fear of this new demand for subprime mortgages ending in the same financial devastation of the past need not be a factor. The new, stiffer lending regulations of the NCCP are now in place and the percentage of subprime loans will continue to be within a safe ratio of funding versus lending.
A trustworthy mortgage broker can mean the difference in making the dream of home ownership a reality again as well as provide protection from bait and switch ploys or dodgy lenders, who charge last minute fees. Non-conforming borrowers or those who have been turned down in the past for credit defaults or a history of bankruptcy are encouraged to find out more here.
Those thinking of taking advantage of the current positive environment of subprime lending can click here for mortgage advice.
About Master Mortgage Brokers Sydney
As a full-service financial services company, our lenders panel includes all four major banks and all second tier banks, including AMP, Bankwest, Citibank, Macquarie Bank, ME Bank, St. George and Suncorp, as well as most non-bank lenders. We also offer investment properties and financial planning.
Contact: Dave Fleming
61 2 8861 1689
d.fleming@equityresource.com.au
PO Box 8056
Baulkham Hills BC
NSW 2153
Australia
Source: http://www.pressadvantage.com/story/439
Release ID: 66781
