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Quite simply you need to be sure that that a refinance is going to save you a meaningful amount of money after any potential refinancing costs.

Our team can calculate accurate savings you may be eligible for by comparing hundreds of lending products from over 30 lenders to tailor a lending solution that matches your needs and not just the lender involved.

Basically, it’s broken down into a few simple areas.

Personal Identification – Driver’s License, Passports, Birth Certificate

Income Documents – Pay slips, Tax Returns, Rental Statements

Property – Rates Notice, Contract of Sale and insurance certificate.

Other Financial Information – Savings/Bank Statements for Car Loan, Credit Cards and/or Personal Loans

Once we have the above documents, we can complete the required market research to determine suitable leading offerings. For those who own their own business, or have just started a new job, there are ‘Low Doc’ options available.

Contact us for a personalised list of the required items to obtain a finance pre-approval.

No, we will organise the upfront valuation on your behalf and usually at no extra cost. The valuer’s job is to determine risk should the property need to be ever sold and not to provide you as a borrower with a best-case marketing estimate.

As a rule, we recommend our clients save 10% of the property’s value, as this will allow for the 5% deposit required, mortgage insurance payable and any associated purchasing fees payable (stamp duty etc.).

However, the recommended 10% can vary if you are looking to purchase an investment property and/or if your purchase is eligible for the First Homeowners Grant (FHOG). Ultimately, the bigger your deposit the more likely you are to obtain a favourable decision from the lender.

An offset account is like a regular savings account, with a BSB number and account number, but is electronically linked to your home loan account to help reduce the interest charged on your loan.

Specifically, the balance in your offset account is “offset” against your loan principal, which reduces the daily interest that accrues. For example, if you have a loan of $500,000 and $50,000 in your offset account, you’ll only be charged interest on $450,000.

However, it’s important to note that many offset account products may come with higher interest rates or additional account management fees. So it’s essential to weigh the savings against the potential costs when choosing this option.

Similar interest savings can also be achieved without an offset account by using flexible repayment strategies or making extra repayments. Feel free to contact us for advice tailored to your loan structure.