Frequently asked questions

Brokers now initiate over 70% of all home loans in Australia, why? We have the software to sort through thousands of different loan products from over 50 Lenders. We seek to understand your objectives and then find the most suitable loan and outcome for you.

We then do all the leg work to get your approval and work with the lender and legal people towards settlement. We then follow up after settlement to ensure you are happy and give you an annual review to ensure the loan is still working for you.

So, whether you are buying your first home or refinancing to get a better rate and maybe a cashback incentive. Call us to discuss.

We get the right home loan for you.

• Competitive interest rates.

• Expert advice and guidance.

• Hassle-free.

• Personal advice.

• We supply you with our Fact Finder and Credit guide with Privacy policy;
• You complete the Fact Finder on line and upload relevant documents;
• We then assess and sort from over 50 lenders to provide you with three recommendations to suit your goals and objectives;
• We provide you with a written Statement of Credit assistance for your review.
• Upon acceptance of lender and loan product we submit to the lender and negotiate a settlement or a Pre-approval.

• We highly recommend a Pre-approval particularly for First Home buyers as the finance environment is very fluid and ever changing.
• We have seen some people lose their deposits for failure to get finance.

Generally we are paid a commission by the lender. For more complex or commercial deals we may charge an application fee.

This is all disclosed in our Statement of Advice.

Now, don’t delay. Contact us if you are in the market.

LMI-Lenders Mortgage Insurance is charged by a lender to insure the loan if goes into default. This fee normally only applies to lending above 80% of property value.

LVR -Lending Valuation Ratio is the relative measure lenders use as lending value compared to the secured property value. Example- If you borrow $400,000.00 against a home value of $500,000.00 the LVR is 80%.

Comparison Rate is a requirement of the government to show the effective rate including fees charged upfront and ongoing fees by lenders.

Warning -this is only relevant for loans with loan costs up to $150,000.00. So as the loan amount increases the effective rate will diminish as fixed costs will be comparatively lower.

Offset Account is a handy feature with most lenders that allow any savings to go into a separate account attached to your loan. Any money in that account will reduce the loan balance and therefore the interest charge.

So, if you have a loan of $100,000.00 and an offset balance of $10,000.00 you will be charged interest on the net balance of $90,000.00. Some banks also allow this against Fixed rates at a limited amount.

Fixed Rates – You may choose a fixed rate for a predetermined time for say 2 to 5 years. This gives you the certainty of payments and prevents fluctuations of potential interest rate rises. Warning, You may incur expensive exit fees if you break the term of the loan either by selling or refinancing. You are also limited to how much extra funds you may contribute to the loan and this too may also incur a default exit fee.

Variable Rates are the standard offer by most lenders. It allows full flexibility of unlimited repayments and redraws if overpaid against your normal payment as advised in your lender terms.