simplyaskit meets Finance Broker Peter Ritchie from the Mornington Peninsula

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

I have been a mortgage broker in Mornington for 14 years and we recently purchased our own office at 8/35 Progress St. Mornington.

What is the name of your business?

intouch Finance Mornington.

What do you love about being a finance broker?

I love creating solutions and helping customers plan ahead when they need help.

Is there a particular type of finance you specialise in?

The majority of the lending we do is residential however we are picking up a lot of enquiry for commercial and business finance which is nice.

What is the property market like in your region?

The Mornington Peninsula is always strong due to the demand for people wanting to live by the beach. The growth has been stable of late without huge variations in value.

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

Many of the older small houses on large blocks present themselves as being particularly suitable for sub-dividing to renovate or demolish and build 2 or 3 units.

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

The exit costs on fixed rate loans.

What are your favourite hobbies?

Kayaking and Fishing.

Do you have much involvement with the local community?

Currently assisting a not for profit organisation and we take disabled and disadvantaged adults and children fishing.

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