LVR stands for Loan to Value Ratio. It’s a percentage calculated by dividing the loan amount by the property value. For example, a $400,000 loan secured by a $500,000 property gives us an LVR of 80%.

The amount of your deposit will have a significant impact on the range of loans and lenders we can consider.

As a general guide, aiming for 10% of the purchase price is a good starting point.

Borrowing up to 80% means you will not have to pay a Lenders Mortgage Insurance (LMI) premium.
Borrowing over 80% usually means you will have to pay an LMI premium. LMI is an insurance premium that
protects the lender, not the borrower. LMI premiums vary significantly from lender to lender and are a major
factor we consider when researching which lenders to recommend.

Loans where the LVR is higher than 80% often have higher interest rates depending on the lender

We understand that your money is precious and adopt a conservative approach to ensure your best interests
are at the forefront of everything that we do.

With over 20 years experience working as a mortgage broker in the Melbourne property market, we understand
how it works and help our clients bridge the gap between home ownership dreams and bringing them to reality.

We take care of you every step of the way – from the planning stage right through to keys in your hand.

Unlike many mortgage brokers, we hold current accreditations with and regularly use multiple lenders and have access to many more on our panel who offer a range of loan types to assist in a variety of situations.

Having a guarantor can help to reduce the overall Loan to Value Ratio (LVR) which can in turn save on Lenders Mortgage Insurance (LMI) premiums. There are several lenders that can consider Guarantor scenarios in certain circumstances.

If you are concerned about your credit history we recommend that you obtain a free copy of your Credit Report from
a provider such as www.mycreditfile.com.au to see exactly what the lenders will be able to see.

A borrowers credit history is an important factor that has a major impact on lender and loan options.

Understanding your purchasing power and how buying a property could affect your financial situation is the first step towards buying a property. Getting the timing right from the ‘idea’ stage to getting the keys in your hands is the art of buying a property with as little hassle as possible.

One of the main purposes of refinancing is to lighten the financial burden, however, that doesn’t mean that it’s not going to cost you. There are many fees involved when changing lenders, which may include discharge and application fees, legal fees, a valuation fee, land registration fee, and mortgage insurance. Understanding what costs are involved for your situation is crucial when working out the viability of a refinance. Put simply, you have to ensure that the costs involved are not higher than the savings, to make the process worthwhile.

Re-negotiating with your existing lender or replacing your current loan with a different lender can often yield significant savings but this is not always the case. Credit policy amongst lenders is complex and ensuring a new lender will approve the refinance is the important first step when exploring opportunities for a better deal.

Don’t switch over often – if the fees give you goosebumps! Certainly, there is no specified time to change your mortgage but the hefty fees, hassle and heaps of paperwork makes borrowers change their mind usually. Changing your mortgage can increase the repayment amount as well as the length of the loan repayment. Therefore, we recommend talking to our experts so that you get complete clarity of the options available to change your mortgage.

An investment property is defined as being a property retained for investment purposes such as letting to a permanent tenant. It could also be used for short term stay rentals such as AirBnB. Lenders will generally consider financing up to 90% of the value of an investment property. Investment purpose loans generally attract a higher interest rate compared to owner occupied home loans.

Selling your home BEFORE buying your next home is considered to be the most prudent way to change properties. It avoids the need for bridging finance and provides certainty in knowing how much money you have to work with.