EVERYTHING YOU NEED TO KNOW ABOUT GETTING A MORTGAGE
Quite simply, we are a one-stop-shop for those looking to buy or build a new property! You might be questioning whether to jump on the property ladder as a first home buyer or first time investor, or you could be looking to expand your investment property portfolio.
Either way we’ll manage the whole process for you, from finding the perfect property or block of land through to choosing a builder and picking up the keys. Buying or building a property can be a long and stressful process, not to mention costly. Our service streamlines the procedure, making it more cost-effective and hassle-free. We’ll provide you with expert advice to support you in the decision-making process.
HOW WE CAN HELP YOU GET A MORTGAGE
We will be there every step of the way
As part of our fixed-fee package, we’ll refer you to a top-notch mortgage broker. We’ll work with the broker to find you a loan that suits your circumstances. The broker will carefully assess your financial circumstances and will organise a loan for you that will leave you confident that you are making the right choices.
Our brokers will find you a great deal
We work with some of the best brokers in the business who have access to lenders with hundreds of different loan options, meaning they’ll tailor the mortgage to your individual needs. Our recommended brokers specialise in ‘difficult’ loans. Just because you have struggled in the past to get a loan does not necessarily mean that our brokers will not be able to help you.
If we can’t help, you’ll get a full refunD
As part of the deal we guarantee that if for some reason there are no lenders willing to provide finance, or if you simply change your mind, then we’ll refund the entire package fee in full. It’s a win-win situation!
HOW IS A LOAN APPROVED?
There’s a lot to consider before taking out a mortgage. Securing finance is a lengthy process, sometimes taking up to a month or longer. Before anyone offers you a loan they’ll want to assess your eligibility. This includes your credit record; deposit size; employment status and debt history.
The lender will ask for a lot of information to assess your eligibility for a loan. This will typically include:
At least six months’ worth of bank statements which show a pattern of savings.
Details of your assets.
Your latest tax return/notice of assessment.
Proof of identity to satisfy the 100-point identity check, i.e. your passport, birth certificate, driver’s license etc.
Your council rates notice for any properties you own.
Confirmation of rental income for any rental properties you own.
The size of your deposit: you should aim to save 20% of the property price as your deposit. (The more you have as a deposit the larger the choice of lenders will be available to you).
Your full employment history and current employment status (how long you’ve been in your current job / how financially secure you are if self-employed).
Proof of your current salary.
Copies of recent credit card statements that show your credit limits.
Our brokers do all the calculations for you, but if you’d like to take a look at what options you have, then we have an easy to use mortgage calculator. The calculator works out what you would need to pay based on the property you’d like to buy. It gives you an indication of what kind of loan you will qualify for and the type of lender that might best suit your situation.
HOW WE CAN HELP YOU GET A MORTGAGE
What happens once a suitable
loan is found for you?
Once our brokers have found the right loan for you, they will make an application to the lender for formal finance approval. They won`t make the application until they are confident that your loan will be approved. This is important because if you get knocked back then it may damage your credit rating.
What happens once your
loan is approved?
After your loan application has been approved, you’ll be issued a ‘home loan guarantee’ or ‘pre-approval certificate’. This means that you have been approved for the loan agreed upon, based on conditions set out by the lender.
Loan approvals typically last around six months but can be extended if you need more time to find a property.
DON’T LEAVE IT TOO LATE!
We’ve seen it happen so many times before – a property-buyer sets their heart on the ‘perfect’ property only to run out of time getting finance, or not getting it approved at all.
Don’t let this happen to you. Sign up for one of our property packages, we’ll get the job done properly so that we can get you into your dream home or investment property.