FAQs
Generally speaking, there is no cost to you for our services as the lenders pay us a commission. The commission is fully disclosed and does not affect the interest rate, fees or charges you pay to the lender. In rare circumstances, where the loan structure is extremely complex or may have been previously declined we will negotiate a fee but this will be fully disclosed form the beginning of the transaction.
If you go direct to the bank, you will only be offered the loan options available through that one lender. As your mortgage broker, we do all the leg work for you. We are across many lenders and all of their loan products and our sole purpose is to find the right loan for your individual needs.
This will depend on a number of factors including how much you have saved for a deposit, your ability to service the debt and what you current expenses are. Check out the loan calculators or call us for a confidential discussion.
Absolutely! We are happy to come to you so call us today to arrange a meeting which is convenient for you.
We have access to over 20 different lenders and hundreds of loan products. Check out our lenders panel page.
The Reserve Bank of Australia meet’s on the first Tuesday every month to determine the official cash rate. The lenders then use this information to set their own rates.
When you borrow more than 80% of the property value, the lender will seek mortgage insurance to protect the lender from losses. Mortgage insurance provides coverage to the lender rather than the borrower.
It is a one-off payment which may be able to be included in your mortgage home loan depending on the policy of the individual lenders.
In some situations, low doc loan providers may request mortgage insurance on lower LVR’s.
Stamp Duty is payable on purchases of properties. There are two different types of Stamp Duty:
1. Stamp Duty on the Transfer of Title, which is charged by state governments and paid by the purchaser.
2. Stamp Duty on the Mortgage - this duty has been abolished for most owner occupied and investment property loans but you may be required to pay it on other types of loans e.g. Business Finance.
Stamp Duty varies by state.
Yes you can. All Coast Home Loans will be able to locate the best possible product and interest rate for you.
There are restrictions on the maximum amount you can borrow against the property value, depending on the country you're living/working in.
All Coast Home Loans has access to lending products which have both redraw and offset facilities.
1. You may wish to purchase a property to live for the next two to three years and then convert it into an investment property loan. In this instance, we would recommend an Interest Only loan with an offset account.
2. If you plan to live in the property long term and aren't looking to purchase another owner occupied property then either redraw or offset would be suitable.
All Coast Home Loans recommend that you obtain a Pre Approval before looking for a property. This will give you peace of mind that you have a loan approved as well as knowing how much you can spend without exceeding your budget.
You can choose to employ a Solicitor to assist you with the purchase of a property. Alternatively, you can employ a Conveyancer who can complete the same work at a lower cost.
Most people choose to refinance their property without using the services of a solicitor or conveyancer.
A number of lenders now allow you to make extra lump sum repayments up to a maximum limit without incurring penalties. However, care must be taken to choose the right lender if you require this feature as every lender has a different policy.
Generally speaking, you can use a guarantor provided they're a Spouse or a Family Member. They can assist you with a Guarantee over Security or act as an income Guarantor.
The individual lender policies for guarantees do vary substantially and All Coast Home Loans will help identify the best solution for your situation.