Prepare To Buy Program
Are you considering buying a home or investment property in the next few years but aren’t sure if you can qualify for a loan?
Unfortunately, many people work hard to save a deposit only to have their application declined when they apply for a mortgage.
There is more to getting a loan than just having a job and a deposit!
Lending guidelines are complex and are a potential minefield for the uninformed.
How does it work?
We can complete a full assessment of your situation and work out what you need to do to get your mortgage approved when you are ready to buy a home.
This upfront preparation makes all the difference when we lodge your application.
- You complete a short application form and send it to us along with your payslips and some other required documents.
- One of our specialist mortgage brokers completes an assessment of your situation and identifies what the banks will see as a problem.
- We prepare a report for you to let you know what you need to do to qualify for a loan.
- When you are ready to buy a property then we will lodge your application on your behalf.
- When your loan is advanced our prepare to buy fee is refunded to you in full.
In other words, you get the expert assessment of a mortgage broker and, as long as you end up buying a property, our fee is refunded so there is no cost to you at all!
Call us on 1300 889 743 or fill in our free assessment form if you would like us to complete an assessment of your situation.
How much does it cost?
When we assess your situation we will charge a $300 fee to your credit card.
This fee is refunded if you buy a property within the next five years and use us as your mortgage broker.
When your loan is advanced we will credit the $300 to your bank account.
What if I decide not to buy?
If you decide not to buy then the $300 fee is not refunded.
However, if a friend or family member of yours decides to buy a home and you refer them to us, then you can request for us to refund your prepare to buy fee when their loan is advanced.
What do you assess?
Most of our mortgage brokers have worked for a bank in their credit department. This means that it was their job to make the decision to approve or decline loan applications.
They know how the banks will view your application and what will be a problem!
We will complete the following assessment:
- Identify “credit issues.”
- Complete a credit scoring assessment.
- Complete a credit check on you and your co-borrower.
- Work out if you need a deposit, and if so, then how much you need to save.
- Calculate your borrowing power.
- Inform you of what you need to change to get approval.
In some cases, we will recommend that you switch banks long before you actually apply for a loan.
This is normally because your current bank cannot consider your loan application so it is better to build a relationship with another bank. As an existing customer with good account conduct, you will have a more favourable credit score.
Please call us on 1300 889 743 or fill in our free assessment form if you would like us to complete an assessment of your situation.
What if I want to apply with my bank?
We can help you to prepare to apply for a loan with any bank, including the one you currently bank with. However, for us to help you, the loan application must be lodged via our mortgage brokers.
In most cases, there is no difference in the cost of using our services or applying with your bank directly. The difference is that we will present your application in a way that highlights its strengths and you will have a better chance of getting approved.
Can this be used for refinances?
Yes, we can help you to prepare to refinance your property or consolidate debts.
In many cases, people come to us for help with refinancing despite being not quite ready to qualify for a loan. By using the same process shown above we can help you to get approval in three to six months’ time.
Are you ready to work with us?
If you are ready to take the next step and buy a home or investment property, then give our mortgage brokers a call! We know how to help you to get approved with a major lender at a competitive interest rate.
Please call us on 1300 889 743 or fill in our free assessment form and one of our mortgage brokers will complete an assessment of your situation.