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Mackay and Whitsundays Mortgage Brokers – Queensland

Posted September 7th, 2010 and last modified December 17th, 2010

Mackay in Queensland is one of Australia’s largest sugar cane farming areas and on top of this it is also a major mining centre exporting ore from the north Queensland mines. As a result it presently contributes more than $15 billion to the Australian economy annually which is 7.1 percent of Queensland’s total production output. Not to be outdone, tourism too is on the move and much investment is presently going into this area of the local economy.

Any property investor, or just a home seeker wishing to live in the tropics, would be well advised to talk with one of the 20,000 mortgage brokers now operating in Australia to help in arranging a suitable home loan, or investment loan, so that you too can be part of this exciting growth area in Australia.

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Mackay is commonly regarded as the gateway to the rich Bowen Basin coal mining reserves. These reserves are the single biggest coal reserves in Australia, with 34 coal mines operating there extracting over 100 million tonnes every year. Eighty three percent of Queensland’s coal is mined in the Bowen Basin which eventually finds it way to some of Australia’s own industries as well as large exports to China and Japan.

Over the last decade mining supply and consulting companies have moved into Mackay in large numbers. Most mining companies operating in the Bowen Basin have their headquarters in Paget, a Mackay suburb. Worldwide companies such as Caterpillar Inc. MMD Sizers, WorleyParsons and Letourneau Technologies also have facilities based in Mackay.

Sugar mills still operating in Mackay today include: Marian, Racecourse, Farleigh and Pleystowe. The latter being the oldest surviving sugar mill in the district. Mackay sugar cane growers supply 6.5 million tonnes annually to these mills and as a result they produce 850,000 tonnes of raw sugar and 180,000 tonnes of molasses on average each year.

Property investment opportunities are plentiful in Mackay, especially in the tourism area, as it is a sector of the local economy that has been neglected and has a long way to go before it catches up with other similar regions in Queensland. The reason tourism will grow steadily in the area is because of its close proximity to Eungella National Park, the Great Barrier Reef and the Whitsunday Islands. Mortgage brokers are readily available to assist you in getting the right investment home loan to have you benefiting from this (to date) little tapped industry.

There are 750,000 domestic and international visitors arriving in Mackay annually on their way to visit the magical Whitsunday Islands and night stays have increased to 3.2 million annually. These overnight stays have grown at a rate of 1 million over the last 10 years. Mortgage brokers will be keen to get you into such a lucrative growth area adjacent to the Whitsundays.

Many people are a little hesitant to engage mortgage brokers to assist them in obtaining the right mortgage to fit in with their plans. You always have the option to ‘go it alone’. This is quite proper if you have the experience and clearly understand what you are getting yourself into, but history shows that most people now having trouble with their mortgages and suffering what is commonly called ‘mortgage stress’, are the same people who took out the first loan arrangement offered to them without fully understanding its terms.

Benefits of engaging the services of a mortgage broker include the following:

  • Mortgage brokers have access to a large panel of lenders, both bank and non-bank. The lenders continually provide their brokers with up to date information, keeping them fully informed on all their products and accompanying features. This allows mortgage brokers to easily compare the different home loan products that are available at any one time.
  • All mortgage brokers will take the time to fully explain the details of the mortgage they have chosen to fit in with your needs and budget. They are trained professionals and if you are not sure on any aspect of the loan you are free to ask any question you wish to clarify any point.
  • Engaging the services of mortgage brokers can help you save money. The services of a mortgage broker are paid for with commissions paid by the lender for the broker finding them your business. No cost is passed onto you, the borrower. The advantage you get as a result of this is that a mortgage broker is more able to negotiate a better deal for you that you most likely could have done yourself.

Using a mortgage broker to search out your most appropriate home loan for you will save you having to visit dozens of web sites and making your own comparisons without knowing what is contained in the ‘fine print’. Mortgage brokers know all the ’small print’ on all the differing home loans and this in itself can save you much emotional stress in the future.


Related posts:

  1. How does the Mining Tax effect your Investment Property
  2. Mining Towns Investment
  3. Bundaberg and Wide Bay Mortgage Brokers – Queensland
  4. Far West Mortgage Brokers – New South Wales
  5. Central Mortgage Brokers – Queensland
  6. West Coast Mortgage Brokers – Tasmania
  7. Toowoomba and District Mortgage Brokers – Queensland
  8. Far North Queensland Mortgage Brokers – Queensland
  9. Home Loans Queensland
  10. Riverina Mortgage Brokers – New South Wales

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