You Have Questions? We Have Answers.

There are several factors that will influence the banks or lenders who are a great fit for you. These include your own personal goals, your loan scenario, employment history and what types of features you want from the loan or lender. The same as a doctor will diagnose before prescribing, we too will help identify what’s important to you so we can advise an appropriate lender and lending solution.

It depends. Before the meeting, we will talk on the telephone to learn more about your personal circumstances and what you’re looking to achieve – and from there, we can advise what will make the process easy and convenient for you. Most clients typically like to get their loan processed as quickly as possible, which means we might ask you to have some documents prepared for the meeting to make more efficient use of your time.

Otherwise known as approval-in-principle, pre-approval means a calculation has been done on your borrowing capacity based on your income, assets and liabilities. By knowing how much you can borrow, you can start to look for properties in your price range. Some people like to shop around with multiple lenders to see how much they can qualify for, but this can adversely affect your credit score meaning it could end up resulting being declined. For that reason, speak with us first so you can get you a clear idea of who you are likely to qualify without impacting your credit score.

Equity is the difference between what your property is worth and the balance owing on your mortgage loan is. For example, if you have a property valued at $400,000 with a mortgage of $200,000, you have $200,000 worth of equity. Whether you live in the home or it is an investment property, equity is typically built up over time as the price of the property appreciates in value and/or as the loan value decreases.

Yes. We understand that getting everything organised can be a little challenging, and that’s why part of our service for you includes helping you complete the necessary forms to claim benefits as a First Home Buyer.

Depending on your personal situation and goals, home loans can incorporate a range of different features. Whether you are anticipating children, would like to downsize, make extra repayments, renovate, or more, we can discuss the features you would like and provide you with a tailored lending solution to suit.

Lender’s Mortgage Insurance protects the lender in case a borrower defaults on their home loan. Lender’s Mortgage Insurance (LMI) is a once-off fee that normally applies when the customer is borrowing more than 80% of the purchase price. LMI is scaled depending on the percentage you need to borrow (between 80 – 95%) and the dollar amount of the loan. LMI can be paid upfront or added to the total loan amount. As part of how we help our clients, we itemise every lender fee and charge so you have a complete breakdown of the costs associated with your loan.

Consumers are eligible to refinance a fixed-rate loan, though there could be ‘break costs’ to get out of the fixed rate. These costs must be taken into consideration to determine the most suitable solution for you, which is why it is critical to speak with your broker to determine what option work will work most in your favour.

Though existing debts could impact how much you are eligible to borrow, some loans allow you to ‘consolidate’ all your debts into a single, lower-rate loan instead of having several loans, some of which have very higher interest rates.

If you receive an inheritance or other lump sum, though this can help with your deposit, many lenders also like to see evidence of regular savings to give them confidence you can manage money responsibly and therefore pay back the loan. As there are a lot of varying policies when it comes to assessing a deposit, contact us so we can advise who you will qualify with based on where your deposit has come from.

A guarantor is a person who provides a legally binding promise to pay off a mortgage if the principal borrower fails to do so.

Though not always, guarantors are often parents who are in a much better financial position than their child who is applying for the loan and needs to leverage their parent’s property as ‘security’ to help fund a loan.

Lenders may regard borrowers as less risky when they have a guarantor – and may charge lower interest rates or even approve mortgages they would have otherwise declined.

If however a borrower falls behind on their repayments, the lender might pursue the guarantor for payment. In some circumstances, this could include seizing and selling the guarantor’s property to recoup their money.