Mortgage Insurance protects the lender in the event of a loan not being repaid and a security property is sold off to repay debts but is not sufficient to fully recover the loan. This insurance protects the lender and not the borrower. It is one off premium paid by the customer. Generally speaking Mortgage Insurance applies when borrowing greater than 80% of the security property value.

YES, this is known as a Lo Doc Loan, ie. No tax returns. We have access to numerous lenders who lend without tax returns. These days BAS returns are required in support of your declared income.

Each loan application is on a case by case basis depending on loan amount and complexity. In most instances No Fee is payable. If a fee is to be payable, clients are made fully aware of the fee, and we obtain clients consent prior to progressing to application.

Brokers can be remunerated by either of two ways. They can either receive a commission from the lender, which is generally a percentage of the loan amount, or they charge a brokerage fee to the client. Our experience tells us that those brokers who advertise “No Fee”, will have a limited number of lenders to choose from and therefore may not be in a position to provide the best deal for their customer in relation to such matters as interest rate, ongoing fees and application fees.

The answer to this question depends on a vast number of factors. Each of our lenders have quite a varied formulae to assess an applicants borrowing capacity. We cannot answer this question without knowing each applicants personal situation such as marital status, dependents, income/outgo, deposit funds, type of loan required etc. Should you like to know your personal borrowing capacity please call us on 03 9752 8488.