In particular we focus on getting the loan structure right the first time, choosing which lenders to use in the right order (yes this is important) and finally getting our clients the best deal possible.
Security
A ‘security’ refers to the property/real estate you are putting up as collateral to take out a home loan.
It protects the lender if for some reason you unable to repay the loan, they will be able to sell the property and recoup the outstanding balance of the loan that you owe.
The security can also be taken into account if you are looking to access equity, which can be used for securing additional funds for renovations, purchase of a new property or even cash out for holidays etc.
Other security considerations are things like market value fluctuations for the property and the borrower is also responsible for maintaining the property and ensuring it is adequately insured to protect all parties’ interests.
A security interest in a loan is a legal claim on collateral provided by the borrower that allows the lender to seize and sell the collateral if the loan defaults. A security interest reduces a lender's risk, allowing them to charge a cheaper interest rate on the loan.
Learn MoreA security is the physical asset (ie. property) that the lender uses as a guarantee from the borrower that they will repay the home loan in full. It also gives them protection if for some reason you stop paying or can’t afford the loan, they can take possession and potentially sell it to reclaim any outstanding funds.
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