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Apply for a loan in FOUR EASY STEPS
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All of our services are obligation free and are also free of any brokerage fees and other hidden costs.
Simply complete our Enquiry Form (located at the top of this page) and we'll have one of our experienced and friendly loan
consultants call you back.
Alternatively, you may prefer to call us direct on 1300 736 976 to discuss your options.
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Once we have arrived at an "in principal" solution, we will email you a full summary of our discussion together with a complete
Fact Sheet on the product/s that we have determined as being suitable for your purposes (sometimes there can be more than one).
Included in this email will be a simple Application Form, a Credit Check Form (to ensure that there are no obvious impediments
to you applying for a Home Loan), some statutory documentation and a list of the documents that you will need to provide to us
so that we can lodge a formal Application with the Lender. Our philosophy is that we don't want to waste your time by asking you
to "formally" apply for a loan until we have determined that your chances of success are extremely high!
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Once we have received the requested paperwork, we will do all of our background checks to ensure that there is nothing
obvious that would lead to a Loan Decline by the Lender. If all is in order, we will then prepare a formal Application
on the Lenders Application Form and email it to you for signature. You simply follow the instructions as per our email
and fax back the requested information. We will then formally lodge your Application.
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Following full approval, formal mortgage documents will be issued to your nominated address. You simply follow the instructions
as per the covering Letter and return them ASAP. On receipt, they will be checked by the Lender and we will advise you when the
loan is ready to settle.
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Frequently Asked Questions (FAQ's)
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Do you charge any fees for your services?
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No. You will not be out of pocket by applying through us instead of lodging an Application directly with the Lender.
We do NOT usually charge Application or Brokerage fees unless the Lender dictates otherwise. We are paid a commission
by the Lender once your loan settles. The interest rate, fees and charges that the Lender applies are the same,
regardless of whether you apply directly through the Lender or utlise our services instead. It is highly unlikely that you will
get an interest rate reduction by applying with the Lender direct. The interest rates that we quote are the same as the Lenders
published rates (available on their respective web sites). We DO NOT (and cannot) add an interest rate loading or
increase the Lenders published fees.
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Do you favour one Lender over another?
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No. Commissions paid to us vary little between Lenders. Having said this, for convenience and "comfort" reasons, we will
generally try and place your business with a major bank (PROVIDED that the interest rates are competitive,
that this is acceptable to you and that the loan is suitable for your needs).
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You deal with most of the major banks, why can't I just apply directly with them?
You can apply for a loan at your local branch, but your likelihood of success is limited. Typically you will be asked to
complete an Application Form and the bank will then assess the loan based on the information disclosed therein. What you don't
know is that there are many internal policies that will determine whether or not your application will be successful. These
include (but are not restricted to):
The amount you want to borrow as a percentage of the offered Security property/s value.
The age of the Borrowers (some Lenders WILL shorten the loan term depending on your age).
Whether you can service the debt based on your self certified income.
Mortgage Insurance issues (policy and loan limits).
The location of the Security property/s.
The zoning and size (acreage) of the Security property/s.
Loan conduct on existing loans.
Current debts.
Credit rating.
Self employment and ABN status.
We do not assess loans this way. We ask you a series of very specific questions which will immediately tell us
WHICH lending institution is more likely to assess your application in a favourable light (we are aware of each
Lenders internal policies with respect to Low Doc lending). We do NOT start any paperwork unless we are 95% +
certain that your application will succeed. In a nutshell, we simply save you
time and frustration by selecting the right Lender FIRST TIME based on your circumstances.
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Can I apply for a loan from within any state within Australia?
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Yes. Most Lenders have mechanisms in place where we can complete Applications remotely and then email the Application Pack to
you for signature. We normally have an initial telephone conversation and then agree on a suitable product to suit your
circumstances. Once a decision has been made, we then complete the Application Form and forward it to you together with a very
specific set of instructions detailing what needs to be done to finalise your Loan Application. The process is very simple and
relatively quick, as all of the paperwork has been filled out in advance.
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What is an LVR (Loan to Value Ratio)?
A Loan to Value Ratio (LVR) describes how much you can borrow as a percentage of the value of the offered security property(s).
For example:
You are offering 2 houses as security worth a combined $500,000.
You wish to borrow $350,000 in total.
The LVR is then 70% ($350,000 divided by $500,000 times 100).
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What is Lenders Mortgage Insurance (LMI)?
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Lenders Mortgage Insurance (or LMI) does not protect the borrower in any shape or form. It is an insurance policy taken out
by the Lender in case you are late with your payments or default on the loan. If this occurs, the mortgage insurance company will
pay the lender the shortfall and will then recover this amount from you. Mortgage insurance is normally payable by
borrowers on all loans with a Loan to Value ratio exceeding 80% on Full Doc Loans (60% on Low Doc Loans). As at August 2010,
there were only 2 mainstream mortgage insurance companies in Australia - Genworth and QBE.
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What is the NCCP (National Consumer Credit Protection Act)?
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As of the 1st July 2010, the regulation of Credit passed from the States to the Federal Government. There is now a strict code of
practice in place when it comes to Lending. Major changes include:
Brokers/Lenders need to ensure that Borrowers have the financial capacity to repay a loan.
Brokers/Lenders need to be sure that the Loan is not unsuitable for the Borrowers purposes.
All Brokers/Lenders need to formally Licenced to offer Credit Advice.
Transactions involving Residnetial Investment properties where the Borrower is a natural
person are now covered by the Code.
For more information, visit www.creditcode.gov.au.
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