Friday, 22 February 2013

Book review: Mortgage Stressbusters

In Mortgage Stressbusters, Alex Brooks addresses two main themes: how to acquire a mortgage, and how to keep your mortgage under control. 

The book has 70 mini-chapters grouped into five sections:
  • Section 1: getting on the mortgage merry-go-round
  • Section 2: loan sweet loan
  • Section 3: playing the property game
  • Section 4: property and mortgage tactics
  • Section 5: creative solutions to ease mortgage stress
Section 1: getting on the mortgage merry-go-round addresses topics to consider as you look to buy your first property such as:
  • Should you buy or rent
  • Why you need a deposit, how large a deposit you need, and budgeting tips to help you save your deposit
  • Government assistance for first home buyers
  • Factors lenders will consider in assessing your ability to repay your loan and tips to improve your credit rating
Section 2: loan sweet loan tackles the lending process:
  • Whether to use a mortgage broker
  • Loan types and features
  • How to negotiate the best deal
  • Scams such as mortgage reduction schemes
  • How to stress-proof your mortgage