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


some lenders are improving their loan approval times, while the few who still offer 95% LVR loans are taking 30 days or more to approve loans due to huge volumes


rapid increases in fixed interest rates offered by all lenders since March 09


CBA gives first indication of increases in variable rates
(0.1% increase this week)


Current standard variable rates and maximum loan-to-valuation ratios (LVRs) for lenders’ more popular loan-types are shown below. 12 month discounted “honeymoon” rate products have been excluded, as well as “professional package” products which cost $350-400 p.a. The final column shows the lender’s current standard 3 year fixed rate. Standard fixed rates have increased RAPIDLY since March this year. For example, HomeSide’s 3 year fixed rate for a $300,000 loan was 5.19% in March. Fixed rates are now much higher than variable rates.

% p.a. LVR max % % p.a.
BankWest 3 year RateTracker 4.85 90 + LMI 6.69
RAMS Basic Variable 4.99 90 + LMI 6.29
St George Basic 4.99 90 + LMI 6.49
PLAN Lending Performance Plus 5.05 90 6.62
CBA Rate Saver 3 yr Special 5.06 90 6.69
HomeSide HomePlus Variable 5.07 95 6.39
ING Direct Mortgage Simplifier 5.09 90 + LMI 6.29
Homeloans Ltd Premium Saver 5.09 90 + LMI 6.79
Suncorp Standard Variable 5.10 95 + LMI 6.39
ANZ Simplicity Plus 5.11 90 6.34
Westpac Flexi First Option 5.11 92 6.59



Heritage Building Society’s Basic loan at 4.82% has been temporarily withdrawn


some lenders will add lender’s mortgage insurance (LMI) to the base loan amount


CBA will lend 95%+LMI to existing customers with well-conducted credit facilities for at least 6 months. CBA increased all its variable interest rates by 0.1% this week


Westpac will lend up to 97% to existing customers who have had accounts for 6 months


St George will lend up to 95%+LMI to existing customers who have had accounts for 6 months


lenders’ quoted fixed rates (1-10 years) can change at any time without notice


Most lenders now require evidence that borrowers have accumulated at least 5% genuine savings proven with bank statements for the last 3 months. Gifts and asset sales are excluded.
HOMESIDE will accept applications with bank statements showing just 3% genuine savings.
SUNCORP will also accept 3% genuine savings for first home buyers with clean credit records.


Borrowers often wish to refinance their loan to another lender. After new loan approval documents have been signed, the traditional refinance process (communicating with the original lender in writing then waiting for an agreed settlement date) can frequently take up to 4 weeks. The FAST REFI facility is offered by many lenders and can achieve a payout in 4 days. The existing lender will probably not even know that its loan has been paid out. The basic FAST REFI process is as follows:

  • borrower applies to the new lender for required loan amount plus a safety “buffer” allowance which usually covers one month’s interest plus known penalties and discharge costs.
  • new lender issues approval documents for signing, including Mortgage Discharge authority
  • new lender checks signed documents and confirms existing lender’s payout figure
  • new loan proceeds, including “buffer amount” are paid directly into client’s old loan account which fully pays out the previous loan. Any excess payment is later refunded to the client.
  • old lender receives a signed client authorisation to forward property Title deed to new lender.

Strict FAST REFI conditions apply and these can be explained in detail upon request. Some new lenders will offer clients a $600 cash incentive to refinance their current loan. Lower interest rates and the opportunity to consolidate other debts into one new loan amount are common reasons for arranging FAST REFI.

Contact Melbourne Mortgage Finance for immediate assistance in arranging your loan application for your clients or contacts. Same-day consultation service is generally available.

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