mortgage People

Buying your first home can be a scary thing. It doesn’t necessarily get any easier after the first one either. Mortgage People™ will help you through the whole process so that all you need to worry about is finding your dream home! We will take you through the simple things such as working out what repayments you will feel most comfortable with and how much you can afford to borrow.
After that, we will also provide you with the best options for your situation. You choose what type of mortgage you want, how you want to structure it and which lender you want to go with (you can even stick with your current bank – and have us to all the work!). We can advise you on products and services that could save you thousands in interest over the life of the loan; and most importantly help you pay off your mortgage faster.
Essentially, no matter how big or small, we can get you mortgage finance so you can concentrate on finding your dream home. We work for you not the lender and are available during the day, night or weekends; over the phone, fax, email or can meet you at our offices, your office or your home – where ever best suits you.
how much will it cost me?

Nothing. Our normal service comes at no cost to you as we get paid by the lenders.

For construction loans, larger development and commercial property, however, will be assessed on a case by case basis and fees are related to the level of involvement.
how much can I borrow?

Generally we are able to arrange loans up to 95% of the registered valuations of the property. There are a number of things that can impact on how much you can borrow; your income, location and style of property, and if you intend living in the property or perhaps having tenants. We recommend that you know what you can borrow before you make an offer, you can do this by arranging a Pre Approval – this will save you lots of time and may improve your negotiating position.
how long should my loan term be?

It is possible to structure your loan over a term of up to 30 years and while this reduces your fortnightly or monthly repayment it will greatly increase the interest costs over the term of the loan. We recommend you talk with us to find the optimal balance that keeps your regular repayments at a manageable level without paying unnecessary interest.
what type of mortgage is best for me?

There are lots of different options to choose from and we can assist you in deciding on what will suit your personal situation best. Examples include:

• Table Loan – most common; where your payments are the same amount and spread evenly over the whole term of the loan.
• Reducing Loan – this type of loan begins with higher repayments that gradually reduce over the term of the loan. You pay off the principal in even amounts but the interest payments will be smaller after each payment.
• Interest Only – You only pay interest on the loan, the principal loan balance remains the same.
• Revolving Credit – This loan provides maximum flexibility enabling you to draw down the amount between what you owe and the credit limit, making payments as it suits you.

where to start…

Using an experienced consultant you get the best and most unbiased financial advice – Mortgage People™ have been helping people with their finance since 1989; with planning and the appropriate experts on your side, buying a home can be surprisingly easy.
step 1   find out what you can afford & review your budget
Finding out what you can afford and what you are comfortable repaying can be two very different things. Part of this process is working through your current budget, what you earn and what you spend.  At Mortgage People™ we have designed a simple process to work through this with you.
step 2  arrange your finance
Arranging your finance can be done simple through Mortgage People™; we will liaise with the lender and ensure you get the best possible mortgage pre approval – this not only includes the best possible rate, but that your home loan is structured to best suit your situation. We will also liaise with your real estate agent to ensure you meet finance date, and any other requirements.
step 3 start looking for your dream home
This is the fun part, to help make it a little easier you might like to complete a ‘wish list’. We have a checklist available which lists all the things that you may or may not want – see below. Also, as you go through properties you may wish to write some notes down so you remember each property, we have a ‘home viewers’ checklist which may be of use.
step 4 organise settlement
Making sure you are all ready for settlement, is easy. Mortgage People™ will liaise with the lender to ensure all your loan documents are delivered to your lawyer, for you to sign, in time for settlement. We will also ensure on settlement day that everything goes smoothly – so all you need to do is move in!
step 5 move in & enjoy!
Making the actual move can be a little stressful if it is not planned, we have a simple checklist of all those things that need to be done… like transferring the power, phone, gas, organising the dog, cat and children!   Basically, helping you get everything from your current house into your new home.
free checklists Click on any of the links below to get your free copy:

• Loan Application Checklist
• Glossary of terms
• Home Viewers Checklist
• Moving In Checklist