Refinancing involves settling your current loan and substituting it with one that aligns better with your needs and preferences.
Refinancing has the potential to unlock substantial savings. It’s important to note that you can refinance with the same lender, but the goal is to secure a new loan with improved rates and terms tailored to your unique financial situation.
Let Brokerage & CO simplify the process and take the hassle out of finding the best loan for you with a free home loan health check. Visit our team page and find your broker today.
As your dedicated broker we help clients find and secure the most suitable mortgage or loan product based on their financial situation and needs. We facilitate the loan application process, provide advice, and negotiate with lenders on behalf of you.
Our brokers earn commissions from lenders for successfully settling loans with them. The commission is usually a percentage of the loan amount. Brokers may also charge clients fees for their services, depending on the structure of the application.
Yes, you can still work with a broker if you have already obtained an approval from the bank, usually the broker will be able to obtain a better rate and provide 10 times the service. Brokers have access to a wide network of lenders. They can help you find suitable loan options and work with you to improve your credit profile if necessary.
Mortgage brokers assess your financial situation, including income, expenses, credit history, and future goals, to recommend the most suitable loan products. They consider factors such as interest rates, loan terms, fees, and features to find a loan that aligns with your needs and financial objectives.
No, mortgage broker services are not limited to homebuyers. Brokers assist a wide range of clients, including first-time homebuyers, property investors, business owners, and those looking to refinance their existing loans. They provide guidance for various loan types, such as home loans, investment loans, commercial loans, and more.
The time it takes to obtain loan approval can vary depending on factors such as the lender, the complexity of your financial situation, and the type of loan you’re applying for. Mortgage brokers aim to expedite the process by pre-qualifying clients and assisting with the application, potentially reducing approval times compared to going directly to a lender.
No, you don’t necessarily need a large deposit to work with a mortgage broker. Brokers assist clients with various deposit sizes and financial circumstances. They can help you explore loan options that align with your deposit and financial goals, whether you have a substantial deposit or a smaller one.
Yes, it’s possible to secure a mortgage in Australia while on a temporary visa, but eligibility criteria may vary depending on your visa type. Our brokers can help you navigate the complexities of obtaining a home loan as a temporary resident and find lenders who offer suitable options.
Financing an investment property can be achieved through an investment loans. Our brokers specialise in helping investors secure the right loan products for their property investments, whether it’s for rental income, capital growth, or both.
A guarantor home loan involves a family member or friend providing a guarantee, typically using their own property or assets as collateral, to support a borrower’s loan application. This can help borrowers with smaller deposits or limited income access loans more easily.
While it’s challenging to obtain a home loan with no deposit, some lenders offer low-deposit home loan options. Mortgage brokers can assist you in exploring these options and finding a solution that suits your financial circumstances.
Lenders assess your income by examining your employment type (e.g., salary, self-employed), income stability, and affordability. Mortgage brokers can help you present your income details in the best possible way to maximize your loan eligibility.
Achieving optimal returns from your property investment portfolio requires careful structuring. Our brokers can provide advice on diversifying your portfolio, accessing favourable loan terms, and optimizing your overall property investment strategy.
Debt consolidation can be a viable strategy to manage and reduce multiple debts by rolling them into a home loan. Our Brokers can help you explore debt consolidation options and assess the potential benefits.
Yes, several government schemes, such as the First Home Loan Deposit Scheme (FHLDS) and First Home Buyers Grant (FHOG), offer financial assistance and incentives to first home buyers. Our brokers can provide guidance on accessing these schemes and securing the relevant home loan.
Yes, credit cards can have an impact on your borrowing power. Lenders consider your credit card balances and limits when assessing your ability to repay a home loan. Higher credit card balances and limits can reduce the amount you’re eligible to borrow, as they are seen as potential financial obligations.
Preparing for a home loan involves several steps. Start by understanding the price point of property you wish to purchase; determine a maximum amount of monthly repayment you will be able to pay and finally get in touch with one of our brokers for a no obligation phone call.
Lenders consider factors such as your credit history, income, employment stability, existing debts, deposit size, and living expenses. They also assess the property’s value and location. Our brokers can help you understand how these factors impact your loan eligibility.
To enhance your chances of loan approval, maintain a good credit history, reduce outstanding debts, save for a larger deposit, and ensure stable employment. Additionally, consult with our brokers who can help you prepare a strong loan application.
Loan structuring involves arranging your loans to optimize your financial situation. It helps you manage your repayments, save on interest, and achieve your financial goals. Structuring can include splitting loans, choosing between fixed and variable rates, and using offset accounts. Mortgage brokers can provide personalized advice on structuring loans to align with your needs.
The choice between fixed and variable rates depends on your financial goals and risk tolerance. Fixed rates offer predictability and protection against rate hikes, while variable rates can provide flexibility and potential cost savings during low-rate periods. Our mortgage brokers can help you evaluate the best option for your circumstances.
An offset account is a savings or transaction account linked to your home loan. The balance in this account reduces the interest you pay on your loan. By maintaining a higher balance in your offset account, you can save on interest costs while still having access to your funds.
Loan splitting involves dividing your home loan into multiple portions, some with fixed interest rates and others with variable rates. This strategy provides a balance between rate predictability and flexibility. It can be beneficial if you want to hedge against rate fluctuations while keeping some flexibility in your repayments.
Yes, you can use equity from your existing property to fund the purchase of another property. This is often done through a home equity loan or a line of credit. Mortgage brokers can help you leverage your property equity to optimize your loan structure for investment purposes.
Sergio Stefano Investments Pty Ltd (t/a Brokerage & Co) ACN 613472030 is authorised under LMG Broker Services Pty Ltd ACN 632 405 504 Australian Credit Licence 517192
The information provided on this site is on the understanding that it is for illustrative and discussion purposes only. Whilst all care and attention is taken in its preparation any party seeking to rely on its content or otherwise should make their own enquiries and research to ensure its relevance to your specific personal and business requirements and circumstances.
