Frequently Asked Questions

Please do not hesitate to EMAIL us if you have a specific question. To assist you in the enquiry process, we have listed the answers to our most frequently asked questions. We hope this helps you.

Who am I dealing with?

We are accredited with over 25 different lenders.

How much can I borrow?

By answering the general enquiry questions on our “Apply Now” page, we will be able to determine how much you can borrow and get back to you within 24 hours, or you can call us on 1300 859 646 and we can calculate your borrowing power immediately.

Do all banks lend the same amount?

No certainly not, the amount you can borrow may vary dramatically from bank to bank. We can tell you who will lend you the most.

Do I apply for a loan first or find a house first?

Generally, it is best to at least find out how much you can borrow and if you would qualify for a loan before you go shopping. Submitting an application and having approval can give you more confidence when negotiating a price on your property and take away some of the worry when you find your ideal property.

What is a honeymoon rate?

This is a low rate for a specified period of time, usually 6 to 12 months. At the end of the term it will automatically revert to the current market variable rate. This product is used by the lender to lure the rate conscious, however, it is not always the best rate?

Is the lowest rate the best rate?

Generally, no. Most low rates last for 6 to 12 months and you usually take your loan over the 25 to 30 years loan term. It is wiser to look for a low ongoing rate.

I am getting divorced, can I buy out my husband?

Many of our clients ask this questions and we have helped many stay in the family home. We have even assisted their ex-partners with the purchase of another property when requested.
We look at your overall situation and from your income will find the lender who can provide you with the amount needed. Some lenders use centrelink and maintenance as income.

We have a home loan, personal loan and credit cards and are finding it difficult to cope. Can you help?

Yes, this is a fairly common scenario and can cause a lot of unnecessary stress. By consolidating and refinancing you to a lower rate we can save you a lot of money. You then have one comfortable repayment. We do recommend you then take to your credit card with a pair of scissors.

Can you find me a loan which has no monthly fees, no redraw fees?

Yes, as a broker we have access to lenders who charge no monthly or redraw fees.

I am a single mum, receive maintenance and centrelink, would I qualify for a loan?

Yes, you could well qualify for a loan as some lenders do use parts of centrelink payments and maintenance if there is a court order.

I want to buy an investment property. Can I borrow the full amount?

Yes, providing you have enough equity in your property and you have the income to support the loan you can borrow more than 100%.

How long does it take for approval?

Providing we have all the correct information and supporting documents generally we can give you a pre-approval immediately and a formal within 3 – 5 working days.

I am recently self-employed can you help me?

Yes, we can match you to a lender who will assist you providing you have enough deposit.

I have bad credit rating, can you help me?

Yes, depending on your situation we may be able to help you and will certainly do everything we can to assist you.

What is a fixed rate?

With a fixed rate loan you lock into a rate for between one to five years. Your repayment will not change during the chosen term. At the end of the term it will revert to the variable rate at that time.

Will you come to me?

Yes, certainly within NSW. That is part of our service. For your convenience we will arrange a time to fit in with you at home or your workplace or even your local coffee shop. Whenever is convenient and comfortable we will work to fit in with you.

What are the advantages of using a broker over a lender?

There are quite a few good reasons to use a broker.
The first would be, OUR SERVICE IS FREE.

We can offer you a broad range of products. We know which lender has special offers, which include no establishment fees. If you go direct to a lender they have only their interests in mind. They are not going to tell you if someone else has a better loan for you.
We are updated immediately of any changes.

We have many people come to us in a major panic. The lender they applied with has taken a week to assess their application only to decline it. Their cooling off period is about to expire and they may loose the house they love. We immediately know who will approve you. All lenders have their own policies. No two are exactly the same. One may say absolutely not when the other welcomes your business. We give you peace of mind.

Why is your service free?

The lending institution pays us for your business so you do not have to. We are independent and not linked to any one lender. If your loan is not approved we receive nothing.

How much deposit do I need?

Generally 5% plus your costs for stamp duty and mortgage insurance and legal fees.

We have found a new home that we love but are yet to sell our existing home, can you help us?

Yes, if you have enough equity in your home there are a few places that have a bridging loan specifically designed for this purpose.

What is a deposit power bond?

It is a certificate of guarantee that you can use as your 10% deposit to exchange with. It is issued to clients with approval loans who are generally borrowing the full purchase price plus costs or who have their deposit invested and do not wish to break the investment term. We can issue these certificates on approval of your loan.