Specialist Mortgage Brokers in Melbourne & Victoria

As part of our fixed-fee package, we’ll work with you to find you a loan that suits your circumstances. We 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.

Once we have found the right loan for you, we will make an application to the lender for formal finance approval. We won’t make the application until we are confident that your loan will be approved. This is important because if you get knocked back then it may damage your credit rating.

We will:

• Research: Researching and locating property that fits your criteria based on type of property, location, amenities and budget.
• Budget: Talking to lenders about how much you can borrow and working out your budget to include the additional fees required above the property price, including the lenders fee, legal fees and stamp duty (where applicable). We can tailor the mortgage to your individual needs.
• Manage: We’ll arrange and manage external services including legal advice and building inspectors.
• Legal: Co-coordinating the transfer of the property, exchange of contracts and arranging all legal documents, including zoning certificates, sewerage diagrams and a copy of title portfolio.
• Insurance: Arrange for property insurance.

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.

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. After which, we will continue the discussion in purchasing the property you’re after.

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!

Refinancing or switching home loans could free up cash for renovations, an investment property or other purchases. We can help you work out if it’s the best option for you and, if so, arrange the home loan that is right for your situation.

Refinancing with a new lender may get you access to better features. On the other hand, refinancing with your current lender could also be beneficial considering your new requirements. You may require additional or alternative features that provide added flexibility such as an offset account or allow you to pay your home loan off faster.

If you have been in your current home for a while, you may have built up some equity, and refinancing can be a way to free up some available funds to achieve a variety of goals such as home renovations or you may want to purchase an additional property as an investment.

There are a few reasons why buying or investing in a new property is better than older properties:

1. Money is usually made from property when it is bought and held as a long term investment rather than as a short term investment. The reason for this is that the entry and exit costs of property are significant with Transfer Duty being paid when you buy and real estate agent’s commissions being paid when you sell. If you are constantly buying and selling you will spend a lot of money on these entry and exit costs. If you are not constantly buying and selling but are holding the property long term then you avoid all these entry and exit transaction costs.
2. The tax consequences of frequently buying and selling property are also much more onerous compared to buying a property to hold on a long term basis. If you hold property, especially a new property on a long term basis, not only do you completely avoid the capital gains and/or income tax consequences of buying and selling a property , but you in fact achieve a tax saving because you can then claim an annual tax deduction in respect of the cost of building the property and you can depreciate the fixtures and fittings in the property which will also gives you a tax deduction. The tax benefits of holding an older property are much less than those for holding a new property.
3. You will generally get a better rental return on a new property than an older property bought for exactly the same price because most tenants prefer living in a clean, new , fresh property rather than an older, tired, rundown property. This translates to a better return on your investment when buying new as opposed to old.
4. New properties have lower maintenance costs than older properties because everything is new and will not need repairs or maintenance for a long time after you buy it. Whereas if you buy an older property, you might find that you have to spend a lot of money early on on maintenance costs or expensive capital repairs.
5. New homes are more energy efficient, have more safety features and have the latest modcons that many older properties do not have. Not only does this make new property more attractive to tenants producing a better rental return and making them easier to rent, but it also makes them cheaper to run and maintain, once again increasing the yield on the property.