LENDING UPDATE – 15.02.19

MELBOURNE MORTGAGE FINANCE LENDING UPDATE – 15.02.19

HOME LOAN PRODUCT OF THE MONTH

loans up to 80% of property value
3.64% variable rate with low establishment fee of $250
multiple free 100% “offset” accounts available
additional payments allowed / free online redraw
available for purchase or refinance

REVERSE MORTGAGE LOANS AVAILABLE FOR SENIORS OVER 60

available loan amount depends on borrower’s age and value of property
6.54% variable rate
low $495 set-up fee, no monthly or annual fee
funds available for normal consumer needs or access to aged care facilities
common purposes: debt clearance, renovations, cash reserve for future needs
independent legal advice is required, but independent financial advice is not required

RECORD 59% OF NEW LOAN APPROVALS THROUGH MORTGAGE BROKERS

in January, 59% of all new loan approvals were originated through mortgage brokers
brokers offer customers a choice of many possible lenders, not just Big Banks
brokers have access to many smaller lenders which offer far better deals for borrowers
brokers generally offer a free service which is very beneficial for customers
brokers are available 24/7 for their customers and offer ongoing service and advice

COMPREHENSIVE CREDIT REPORTING COMMENCING NOW

from February 2019, lenders will have access to more detailed information about borrower’s credit history
previous Credit Reports revealed basic details about applications lodged, defaults, court judgements etc.
new Credit Reports will reveal details about full repayment patterns over last 24 months for each account
borrowers should make all payments on time to avoid spoiling their new Credit Report records

FAST REFINANCE / DEBT CONSOLIDATION AVAILABLE

excellent deals with lower rates are available from smaller lenders
high rate loans can be refinanced, together with other debts that need to be cleared
“FAST Refi” loans can usually be settled in just three weeks
advantages: lower rate, debts cleared, significant cash flow benefits, one single loan to repay

Note: loans offered are available at the time of publication, but lenders change product offers without notice

Contact Melbourne Mortgage Finance on 0437 417 042 for further loan details

Barry LeBrocq

Melbourne Mortgage Finance
Patterson Lakes, VIC 3197
Mob 0437417042
Web www.melbournemortgagefinance.com.au

Disclaimer: The above information is intended as general information only and does not address specific personal situations. Loan products, interest rates and fees change frequently without notice. Please call Melbourne Mortgage Finance to verify details and discuss your specific needs and loan eligibility.

What our customers say about us

Thanks for all your help and for making it so easy for me. Life will be so different now.

Thank you very much for the service you provided us regarding the refinance of our home loan. All went well and smoothly with no problems. We are happy with the new loan arrangement. Once again, thank you very much for your assistance.

We have found Barry Le Brocq of Melbourne Mortgage Finance to be very patient, caring and diligent in achieving a successful outcome to our refinancing requirement. We have no hesitation in recommending his services to others.

Many thanks Barry for the exceptional service that you have provided. We will most certainly be recommending you to our daughter (Bank of Melbourne branch manager) for any future customers who need a reverse mortgage loan.