Frequently Asked Questions

For property, a Broker can cost $0 in most cases.

Mortgage brokers receive payment from the lender on a commission basis. We can organize the exact same loan (including rates) as you would receive by walking straight into a bank so it wont cost you any extra. As part of the loan process Lenders, Government, Settlement agents and other parties involved may charge fee’s but these are paid directly to the issuer of the fee. All commission we will receive for organizing your loan will be disclosed before we submit an application.

We may charge a fee for personal loans or small top up loans where we will not receive a reasonable commission from the lender. All fees and commissions will be disclosed before proceeding with any services.

We can “pre-assess” you before you put in an offer to purchase. We call it pre-assess as we go through your scenario and assess what you are likely to be able to borrow. Unfortunately, these days preapprovals that are submitted through to a lender do not guarantee a formal approval when you come back with the purchase.

The pre-preassessment we do also keeps your options open with which lender to go through as rates and policies can change at any time. We offer letters of eligibility if you want to assure someone of your capability to get a loan.

For a house some thing that will help are

• Deposit or Equity available
• Consistent employment
• A regular savings history

These things a very helpful but if you don’t have them, we may still be able to find a lender that suits you. We are likely to request payslips, bank statements and ID but will ask for what is required at or after an initial interview.

Often asked, this question is a bit like asking how long is a piece of string?

Everyone’s situation is different and lenders have started changing their rates out of cycle with the Reserve Bank as well as their lending policies. While a lender might be good for your neighbour, they might not suit you.

A good example is an employment. You may be employed casually for 6 months whereas the neighbour has been working full time for 5 years. Lenders will look at each of these cases differently.