FAQs

A broker is a finance expert who collaborates with you individually to discuss your borrowing objectives and assist in determining the amount of money you can qualify for. They usually offer a more personalised service than what you’d receive from a lender, and they have access to loans from various lenders, enabling them to find the best loan terms for your specific circumstances.

In-Depth Market Insight and Understanding of the Lending Environment

We nurture strong relationships with a range of lenders, often gaining access to deals and products that might not be available elsewhere.

Holistic Financial Planning

Our commitment goes beyond merely securing a loan. We evaluate your entire financial situation to offer strategic advice and structure your loan to align with your long-term objectives, potentially saving you considerable amounts over the life of your mortgage.

Continuous Support and Engagement

The relationship doesn’t conclude at settlement. We regularly review your loan and proactively reach out when better options become available, ensuring your mortgage remains effective over time.

Creative Problem-Solving

We view challenges as opportunities. Our expertise enables us to devise innovative solutions for complex situations that others in the industry might overlook. We strive to make your loan process as smooth as possible, including liaising with your solicitor, accountant, and agent to ensure everything progresses swiftly and seamlessly. We have top experts in their fields and can recommend professionals to help you achieve your goals.

Client Education and Empowerment

We prioritise empowering our clients by simplifying complex financial concepts into clear, understandable terms. This approach helps you make informed decisions about your financial future. No question is too trivial. We take the time to ensure you understand everything.

Strong Advocacy

When obstacles arise, we actively advocate on your behalf. Our established relationships and industry knowledge enable us to navigate challenges effectively, often achieving favourable outcomes. We sometimes go beyond the usual call of duty. Recently, our team: helped a client connect with an expert who negotiated with the Council and previous bank on their behalf, saving them over £100k; asked pertinent questions of a client’s accountant, helping the client save over £100k on their tax debt; smoothed communications and reassured the agent that the client had no issues with their borrowing and were simply waiting on some documentation; and advocated for the client when the lender had doubts about the client’s ability.

Efficient Processes and Transparency

We value your time highly. We work diligently to streamline the entire process, anticipating potential issues and keeping you informed every step of the way.

By partnering with a broker committed to these principles, you gain more than just loan assistance; you receive a dedicated ally focused on helping you achieve your financial goals now and in the future. With a blend of market expertise, personalised strategy, and consistent support, we aim to enhance your experience throughout the mortgage journey.

Strategic Collaborations with Banks

Banks regard us brokers as strategic partners who bring them clients well-suited to their products. It’s a mutually beneficial arrangement – banks can either compensate their employees or us. We package everything according to their specifications, streamlining the process. Like us brokers, bank employees earn between £140k and £200k per year, including bonuses and commissions.

Extensive Market Expertise

Let’s be honest – there’s much we don’t know, right? With so many lenders out there, how can you possibly be aware of what each bank offers? This is where our expertise proves invaluable. My company conducts a soft touch check and examines all available lenders to select one that’s most suitable for your specific needs.

Safeguarding Your Credit Score

When you approach multiple banks, each inquiry is officially recorded, potentially lowering your credit rating. With us, it’s just one inquiry compared to possibly ten or more. This approach protects your credit score while still providing access to a wide range of options.

Impartial Advice and Superior Options

Banks aim to sell their own products, not those of competitors. They aren’t obliged to inform you if another bank offers a faster turnaround time when you need to make a quick offer. They won’t mention if there’s a better product with more features or a superior interest rate from one of the other 50 lenders. As brokers, we have access to a vast array of products and can find the best fit for your unique situation.

Education and Long-term Partnership

Unlike bank employees who focus on selling products and processing as many applications as possible, we see our clients as lifelong partners. Your success is our success. We are committed to educating you on the best structure for your goals and providing ongoing support as your needs evolve over time.

Savings in Time and Money

While you might spend months deciding and exploring options, I could have refinanced you out of your 8.34% loan using the tools available to me to find you the best deal of 5.99% variable or 5.59% fixed. Just imagine the savings on your loan! By choosing to work with a broker like me, you receive personalised service, expert guidance, access to a wide range of products, and potentially significant savings. We handle all the paperwork, negotiations, and communications with lenders, saving you time and effort. Our goal is to build a long-term relationship, helping you optimise your mortgage throughout the life of the loan. So, why settle for a single bank’s offerings when you can have an expert working for you?

Please get in touch with our team. We can then go through your options with you and chat about your circumstances in further detail.

As the name implies, variable-rate home loans have interest rates that fluctuate over time. They are often more flexible than other types of loans, offering features such as redraw facilities and extra payment options. However, they do not come with fixed repayment amounts.

In contrast, fixed-rate home loans provide predictable monthly repayments – you will know precisely how much you need to pay each month for the entire loan term. These loans might lack flexibility in terms of features but offer borrowers peace of mind when planning their budget.

When deciding which type of loan is best for you, it’s important to consider what matters most – whether it’s the flexibility of a variable-rate loan or the certainty of fixed monthly repayments.

Because we are connected to a mortgage aggregator, we have the privilege of being able to source loan options from over 50 different lenders. This means that we can help you find multiple suitable options for you and your specific situation.

SERVICEABILITY

Your rental income will be taken into consideration.

Most banks will apply a reduction. The percentage reduction will depend on the bank, typically ranging from 10% to 20%. For instance, if you receive $500 rent per week, a 10% reduction would mean the lender considers your rental income to be $450 per week. This adjustment is to cover potential income loss from having an investment property (IP).

Costs may also be taken into account, but some banks will not make further deductions after the initial reduction.

For the same investor, different banks may lend varying amounts. The difference in serviceability can be significant, sometimes amounting to hundreds of thousands.

Serviceability depends on numerous factors, not just the amount of spare cash you have.

Serviceability factors may include:

1. Your occupation
2. The bank’s current lending appetite
3. Property type
4. Location
5. Your employment status (full-time, part-time, casual)
6. Duration of employment
7. Whether you are considered an essential worker
8. The bank’s definition of essential workers
9. Whether your income includes bonuses, penalty rates, allowances, commissions, or overtime – whether regular or not.

Flippers and developers intentionally purchase properties to add value and then sell them within a short time frame before moving on to the next project.

Some may undertake one or two projects per year, while others might handle 10 to 20 annually.

For renovators, it might take between three to six months to repay all the money.

For developers, their projects can range from as quick as six months to up to three years.

These loans do not require traditional serviceability. Most fees and interest are capitalised, meaning you repay them when you sell the property. The interest rate can be surprisingly low. Over a six-month term, the interest can be less than a traditional loan and cheaper than using money partners, even after accounting for interest.

Some of the upfront fees include a commitment fee, administration fee, and valuation fees. The total upfront costs can be as little as $1625 for a $600k purchase.

If you are a flipper, renovator, or developer, contact us for a quick phone call to understand how we can assist you with your projects.

Example 1: Jack has renovated several homes. He recently left his job and is currently seeking new employment, while his wife is on maternity leave. Jack wants to flip a house while searching for his next job.

They lack the serviceability to borrow and have limited equity to redraw, but they have a group of enthusiastic friends who have each renovated several homes. Jack has $50k of his own and will coordinate all the work. His friends are willing to contribute a total of $300k.

We were able to assist Jack in purchasing a $600,000 property to renovate and flip.

There are numerous ways to utilise equity.

We are assisting someone in obtaining a second mortgage to fund renovations and sell within six months. This involves two young sisters who purchased an investment property years ago but currently lack serviceability.

We helped a charming retired gentleman use his principal place of residence (PPR) as security to renovate an investment property. No serviceability required.

We are aiding a delightful older couple in buying a property for subdivision, using the equity from his daughter’s investment property, which he purchased for her a few years ago. No serviceability needed.

We assisted a very honest gentleman who found himself in trouble with over $250k in tax and council debts and was unable to pay his mortgage, which was twice his earnings. We helped him fix his credit issues, allowing him to reset his credit so he could refinance to a better deal. No serviceability needed and no payments required for six months, giving him a much-needed reprieve.

For baby boomers, it can be even more advantageous. You can secure a mortgage with no serviceability to pay for a downsizer, holiday home, car, or renovations on your PPR. There is NOTHING TO PAY, and you will never owe more than the value of your home, ensuring you will never be a burden to your children.

It may sound like magic or too good to be true, but I help people with these solutions every day.

To put it simply, money partners typically provide the funds for a flip, expecting a 10%+ annual return, while someone else sources the deal and manages the renovations.

Our flipping clients regularly use money partners to cover expenses like the deposit, stamp duty, and renovation costs. This creative funding approach allows flippers to operate full-time without needing to secure loans from banks.

It’s an excellent way to be involved and earn money without getting your hands dirty. Additionally, it often yields a higher return than what banks offer on savings accounts.

What does it mean when we say “if the deal stacks up”?

This means the deal is profitable. The flipper ensures the deal stacks up by inputting figures into a feasibility calculator, usually in a spreadsheet.

Everyone has their own profit expectations. Some are content with $50k per deal, while others aim for a 10% to 25% return per deal.

Feel free to contact us. We are happy to answer any questions you may have.

Rent vesting

You get income from investing, even if you share a house and get rent from friends while you live there, banks don’t limit what that income is.