If you're looking to invest in property, you're going to likely need to get a mortgage. And if you're going to need to get a mortgage, you're going to need to present your finances to the bank in a way that they're happy to lend you money. And today, I have with me Michael Brown from mortgagebrokersydney.com.au. And he was telling me that he spends so much of his time coaching people and things that they need to do to get their finances in order so that they can get a loan, I thought that would be a great thing to talk about to help everyone out there who's looking at getting a mortgage. Contact Michael - https://mortgagebrokersydney.com.au 0:00 - Introduction 1:07 - Have your documentation 3:10 - Explanations for expenses 4:53 - Regular savings pattern + frugal living 7:19 - Reducing your debt + making debt repayments 8:35 - Reducing credit card limit 12:23 - Get a copy of your credit report 15:45 - What point should you engage a mortgage broker 19:15 - Benefits of using a mortgage broker Recommended Videos: Summary of Australian Lending Changes: 2021 Update - https://www.youtube.com/watch?v=yD__-JjLsOI https://onproperty.com.au/861 - Visit the site for a full transcription and downloadable audio version of this video. ------------------------- BOOK A FREE PROPERTY STRATEGY SESSION https://onproperty.com.au/session/ HOW TO INVEST IN PROPERTY COURSES AND RESOURCES https://onproperty.com.au/resources/ ------------------------- DISCLAIMER No Legal, Financial & Taxation Advice The Listener, Reader or Viewer acknowledges and agrees that: • Any information provided by us is provided as general information and for general information purposes only; • We have not taken the Listener, Reader or Viewers personal and financial circumstances into account when providing information; • We must not and have not provided legal, financial or taxation advice to the Listener, Reader or Viewer; • The information provided must be verified by the Listener, Reader or Viewer prior to the Listener, Reader or Viewer acting or relying on the information by an independent professional advisor including a legal, financial, taxation advisor and the Listener, Reader or Viewers accountant; • The information may not be suitable or applicable to the Listener, Reader or Viewer's individual circumstances; • We do not hold an Australian Financial Services Licence as defined by section 9 of the Corporations Act 2001 (Cth) and we are not authorised to provide financial services to the Listener, Reader or Viewer, and we have not provided financial services to the Listener, Reader or Viewer.
Source link:: https://www.youtube.com/watch?v=4N8YjMF0SB4