simplyaskit meets Finance Broker Meiken Barnes from intouch Finance Albury

How long have you been a mortgage broker and where is your business located?

I started in the finance industry in 2004. We have 2 offices conveniently located in Dean Street Albury and High Street Wodonga and about to open in Tumbarumba NSW

What is the name of your business?

intouch Finance Albury & Wodonga.

What do you love about being a finance broker?

I love saving people money and providing options. I get a kick out of beating the Banks and putting more money back into my client’s pockets, the Banks earn enough! I also love being able to provide a loan approval when a customer had little hope or had been previously knocked back by their Bank or another Broker, sometimes it’s just the smallest difference between lenders that can mean qualifying for the dream home or not.

Is there a particular type of finance you specialise in?

I work with a lot of Investors, the difference between rates and policy for investment loans is significant from one bank to another, if the client receives the wrong advice it can cost thousands in interest and lenders mortgage insurance. Having the ability to work with multiple lenders to find the best solution is so important. First home buyers are also close to my heart, I love making the ‘congratulations your home loan is approved’ call and making home ownership dreams come true.

What is the property market like in your region?

Investors are loving the high yielding properties that our region offers. We don’t necessarily have the capital gain potential of Sydney or Melbourne, however, the rental returns are very strong with most properties being positively geared with low interest rates on offer. The property market is growing steadily between 3 – 4% in some areas of Albury & Wodonga.

Are there any particular suburbs or property types you feel represent growth opportunities in your region?

There is a lot of activity in Thurgoona and Baranduda, I have a lot of clients snapping up land and building in those areas. Also, Central and East Albury is appealing to the ‘renovators’ investors or occupiers who are keen to get their hands dirty are finding capital growth potential.

What’s the one aspect of a loan all borrowers should be aware of?

The interest rate on their loan. The interest rate on your home loan will be the biggest expense in a life time for most people. The difference on a $300,000 home loan between 5% and 4.2% is $51,629 in 30 years.

I often see people settle for what their bank and not be aware of the interest rate on their loan

It is so important to have access to a trusted mortgage broker who has all lenders at their fingertips.

What are your favourite hobbies?

I enjoy fishing, camping and traveling with my little family. During footy season, Saturdays are spent on the sidelines of the local football ground.

What are your goals for 2016?

My goal is to consolidate our position as the mortgage broker of choice in the Albury & Wodonga regions

To find out more about Meiken’s advice and expertise click