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.

Jan Vincent
Montrose, VICTORIA

Thank you for your time on the phone yesterday and copying me into the below email.
I just wanted to take the time to say that I have never seen such a comprehensive email provided to clients by a Broker before. Very clear and detailed.
I hope it’s ok that I hold onto your details to refer to clients who may need assistance.
Kind Regards,

Shannon Oatley
Director & Licensed Conveyancer
Property Conveyancing Group, VICTORIA

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.

Don & Christine Perrett
Leongatha, VICTORIA

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.

Paul & Barb Spark
Somerville VICTORIA

 

LENDING UPDATE 14.06.19

  • LIVING EXPENSES ARE NOW A KEY ISSUE
  • COMPREHENSIVE CREDIT REPORTING NOW IN EFFECT
  • INVESTMENT LOANS AT OWNER-OCCUPIER INTEREST RATES
  • REVERSE MORTGAGE LOANS FOR SENIORS OVER 60
READ MORE

Melbourne Mortgage Finance offers an extensive range of mortgage products and services including

Home Loans, Investment Loans, Equity Access Loans, Low Doc Loans, 100% Loans, Refinance Loans, Commercial Loans, Deposit Bonds, Reverse Mortgages, Accommodation Bonds, Vehicle Finance, Plant and Equipment Finance, Financial Planning and Business Finance.

IMMEDIATE appointment can be made to meet at your home or office

  • NO CHARGE for assisting you. We receive a standard fee from the lender you select
  • reliable service, communication and follow-up. See “Testimonials
  • accreditation with 20 national lenders, allowing you to select from an excellent range of loans
  • we carefully listen to your needs, do our research, then present you with a short-list of three potential loan solutions. You choose the lender.
  • printouts of products, fees, interest rate and loan features are provided
  • arrange for your property insurance and personal insurance requirements to be assessed
  • ongoing availability to assist you after loan settlement
  • over 30 years experience in arranging finance and mortgage loans