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

  • Generally no movement in variable interest rates during September
  • Standard 3 year fixed rates remain much higher than variable rates.
  • Loan approval times are generally below 10 working days, but some lenders who still offer 95% loans are taking 15 working days or more.
  • Only a few lenders still offer loans up to 95% of valuation to new customers
  • As from 01.10.09, the First Home Owners Grant in Victoria reduces to $12,500 for established properties and $25,000 for new properties. Conditions apply


Current variable rates and maximum loan-to-valuation ratios (LVRs) for popular loan types are shown in the table below. Discounted 12 month “honeymoon” rates and “professional package” rates costing $300-400pa have been excluded. Each lender’s standard 3 year fixed rate is also shown.

Variable %
max %
3 Year
Fixed %
Bankwest 3 year Rate Tracker 4.87 90+LMI 7.14
ING Simplifier Smartpack 5.03 90+LMI 7.09
PLAN Lending Performance Plus 5.05 90 7.82
CBA Rate Saver 3 year special 5.06 90+LMI 7.29
RAMS Basic Variable 5.06 90+LMI 7.19
Homeside (nab) Home Plus 5.07 90 6.89
St George Basic 5.07 90+LMI 7.24
Homeloans Ltd Premium Saver 5.09 90+LMI 7.16
ING Simplifier 5.09 90+LMI 7.09
Suncorp Standard <90% 5.10 90 6.99
ANZ Simplicity Plus 5.11 90 6.99
Westpac First Option 5.11 92 7.19
Police & Nurses Dream Loan 5.17 95+LMI 6.99
Suncorp Standard >90% 5.30 95+LMI 7.19
Police & Nurses Easy Pay 5.53 95+LMI 6.99
Bankwest Mortgage Shredder 5.70 95+LMI 7.14


:+LMI indicates lenders who will add the mortgage insurance premium to the base loan.

:CBA, Westpac and St George will increase their lending to 95+LMI only to their own existing customers who hold accounts for a minimum of 6 months. Conditions apply.

:Police & Nurses Credit Union, Suncorp and Bankwest will lend still 95+LMI to new customers, but at higher rates. Conditions apply.


A 5% or 10% deposit is usually paid when a Contract of Sale is exchanged. There will be occasions when the purchaser does not have the necessary cash deposit at the time of purchase. For example,

  • deposit monies may be invested in fixed term investment accounts
  • purchasers may have sold a property unconditionally, but settlement has not yet occurred
  • purchasers may have equity in their existing property, but no available cash

In these circumstances, a Deposit Bond can be arranged and offered to the vendor in lieu of an actual cash deposit. A deposit Bond is an interim guarantee issued by an insurance company to the vendor at the time of purchase. It guarantees that the normal 5% or 10% cash deposit will be advanced at settlement date when the purchaser’s cash funds become available. The insurance company will only issue the Deposit Bond after the purchaser’s finance has been fully approved. The Vendor and selling agent must both be willing to accept the Deposit Bond in lieu of cash. Refer website below for further details.


Lenders use different notional interest rates to establish borrower eligibility for a new loan. Assessment rates are higher than the actual current interest rate. For example, a lender’s current variable rate may be 5.1 %, but its loan assessment rate may be 7.5%. The lender wants to establish that if interest rates increase to 7.5%, the borrower will still be able to meet the increased monthly loan repayments.
Current lender assessment rates vary considerably from 6.99% (RAMS) to 8% (ANZ and ING). The lower the assessment rate, generally speaking, the higher the loan amount available from the lender.

Please contact Melbourne Mortgage Finance for assistance with a new loan. Please refer to website for full details of services offered. There is no charge for helping you to arrange your loan.

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