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





Key issues

  • Most lenders will now approve loans only up to 90% of valuation. Some will go to 95% for their own customers or for those willing to pay higher interest rates
  • Shorter loan approval times as a result of fewer new applications and reduced application backlogs
  • Variable rates have generally held steady since last month
  • lenders’ 3 year standard fixed rates are an average of 1. 5% higher than their base variable rates
  • Nearly all lenders now require bank statements to prove 5% genuine savings history. Suncorp will accept 3% for first home buyers, subject to certain conditions.


Current variable rates and maximum loan-to valuation ratios (LVRs) for popular loan-types are shown below. 12 month “honeymoon” products and “professional package” products costing $350-400 pa have been excluded. The right hand column shows each lender’s standard 3 year fixed rate. Significant differences exist between the fixed rates charged by different lenders.

Base variable % p.a. LVR max % Standard 3 year fixed % pa
BankWest 3 year RateTracker 4.85 90 + LMI 6.69
RAMS Basic 4.99 90 + LMI 6.29
ING Simplifier Smartpack 5.03 90 + LMI 6.89
PLAN Lending Performance Plus 5.05 90 7.22
CBA 3 yr Special 5.06 90 + LMI 6.69
HomeSide HomePlus 5.07 90 6.39
St George Basic 5.07 90 + LMI 6.49
ING Simplifier 5.09 90 + LMI 6.89
Homeloans Ltd Premium Saver 5.09 90 + LMI 6.89
Suncorp Standard (<90%) 5.10 90 6.49
ANZ Simplicity Plus 5.11 90 6.34
Westpac First Option 5.11 92 6.59
Suncorp Standard (>90%) 5.30 95 +LMI 6.69
Bankwest Mortgage Shredder 5.70 95 +LMI 6.69



+LMI indicates lenders who will add mortgage insurance to the base loan amount


St George increased its base variable rate from 4.99% to 5.07% on 01.07.09


CBA will lend 95%+LMI only to existing customers who have had a credit facility for 6 months


Westpac and St George will lend 95%+LMI only to existing customers with accounts for 6 months


Suncorp and Bankwest still lend 95%+LMI, but now only at higher rates which reflect higher risk


Established Newly Built
01.07.09 – 30.09.09 $16,000 $32,000
01.10.09 – 31.12.09 $12,500 $25,000
01.01.10 – 30.06.10 $9,000 $18,000

These amounts include contributions from both Federal Government and Victorian State Government. The maximum purchase price to be eligible for the State Government contribution is now $600,000 instead of the previous $500,000. An additional grant of $4,500 is available for newly built properties in country regional areas.


Royal Bank of Scotland (previously ABN AMRO) is Australia’s largest provider of reverse mortgages to borrowers over the age of 60. In a recent survey of 425 of their own existing customers, the following results were published last month:

  • average loan size $66,000
  • over 35% of borrowers use a line of credit facility instead of taking a cash lump sum
  • funds were used for the following purpose: 33% home improvements/repairs , 19% bolster income, 15% car purchase, 9% travel, 7% helping family, 4% rainy day needs, 2 % medical expenses, other uses 11%
  • 98% of clients surveyed said they would recommend a reverse mortgage product to friends or family


As a normal part of arranging your purchase or refinance loan, Melbourne Mortgage Finance will always discuss current personal protection arrangements which borrowers have in place. Quite often, borrowers have no protection insurance at all.

  • in the event of the death of the key income earner, can you fully clear your debts and provide cash for your partner and family?
  • in the event of a major health trauma (such as cancer, stroke, heart attack), can you still make your loan repayments and cover serious medical expenses as well?
  • in the event of long-term illness or disability, can you still make your loan repayments and maintain your current lifestyle and expenditure without having to sell up?
  • do you have a legal will which clearly provides for the correct distribution of your assets?

An appointment can be made for borrowers to meet a qualified Financial Adviser, discuss these questions, review existing protection arrangements and recommend appropriate solutions if required.

Please contact Melbourne Mortgage Finance for immediate service arranging loan applications.

Barry LeBrocq

Melbourne Mortgage Finance
Mob 0437417042
Web www.mmfinance.com.au

Disclaimer: the above information is intended as general information only and is not intended to cover specific personal situations. Every effort has been made to ensure that content is accurate, however it should be understood that lenders are constantly changing their products, interest rates and lending policies. Potential borrowers should contact Melbourne Mortgage Finance to discuss their specific personal financial needs and loan eligibility prior to making a borrowing decision.

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