Unbroke Home Loans
When you work with Unbroke mortgage and finance brokers, there is no fee to use our services. We receive a commission from the lender you select, and we’ll provide you with complete transparency throughout your loan application and settlement process.
Before you find a property
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In our first meeting, we’ll discuss your goals, timelines and loan requirements.
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We will work with you to collate all documentation needed to gain conditional approval from a lender for a certain loan amount.
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We will apply for conditional approval to your chosen lender, based on the comparison information provided to you depending on your personal requirements.
Once you’ve found your property
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With conditional approval you can progress to purchasing a property that aligns with your lender’s approval.
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As soon as you have signed a property contract, we will submit your loan for formal approval with the lender.
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Once you’ve purchased a property, we will ensure you know all of the associated costs with purchasing the property, both on, before and after settlement day.
Settlement and post-settlement
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We will work with you to ensure you feel calm and confident on settlement day and that your finances are all sorted in advance.
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On settlement day, we’ll hold your hand and ensure the process between the previous vendor, real estate and other parties involved goes smoothly.
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After you settle on your property, we’ll be available for any questions, additional future loans and can help you look at refinancing opportunities throughout the lifetime of your loan.
FAQs
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Using Unbroke as your mortgage broker does not cost you anything, we do not charge any service fees. Once your loan is settled, we earn a commission from the lender you choose.
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Absolutely! Even if you’re just thinking about buying property one day, or would like to know your options, schedule a call to chat with us about your situation.
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Interest rates vary by lender, but you will not receive a better interest rate by going directly to a lender that is included on a broker’s panel. Some lenders even offer interest rate discounts to brokers, so going with a broker may give you access to interest rate discounts.
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Conditional pre-approval provides you with an indication from a lender that you’re eligible to apply for a loan up to a certain amount. This can give you confidence to purchase, and also gives sellers confidence that you’re ready to buy. Some real-estate agents even require conditional pre-approval in order to make an offer on a property.
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Some of the benefits of using a mortgage broker are:
Industry professional to hold you through your hand through the loan application and settlement process
You don’t pay any fees to use a broker
Brokers will provide you with simple comparisons of different loans that may suit your requirements
You may be able to access broker interest rates discounts
Your broker will take care of submitting all of your documentation to the lender on your behalf
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Mortgage brokers are paid by the lender you choose to proceed with your loan. Broker commissions are made up of two portions:
Upfront: the lender pays the mortgage broker a commission when the loan is first settled.
Trail: the lender pays the broker a monthly trail commission for the life of the loan.
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The standard minimum deposit to purchase a property in Australia is 10%, but you will need to have a 20% deposit is you want to avoid paying Lender’s Mortgage Insurance.
The deposit required also depends on the requirements of the individual lender.
If you have a family member willing to be a guarantor, or have existing home equity in another property you may also be able to purchase a property without a 20% cash deposit.
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