A perfect home loan for every stage of your life.
Peace of Mind
Explaining Our Loan Process
It costs nothing to speak to our friendly and professional staff, who can quickly help you find out how much you can borrow and which loan will suit your needs, plus answer any questions you may have about the process.
Arrange a Pre-Qualified Loan
If you haven’t found your property yet, a pre-qualified loan will be very useful. It gives you confidence knowing your spend limit and lets you move quickly on a property you’re interested in. You may also have a stronger negotiating position over buyers who haven’t been this organised.
Find Your Property
Make sure you do your homework when looking for your property. Consider using a valuer if you’re not familiar with the area. Otherwise research prices, capital growth, planned infrastructure, public transport, schools and shops.
Make an Offer and Sign a Contract of Sale
Your buying agreement becomes legal when a contract is signed by both parties. This confirms the selling price plus terms and conditions. Your commitment will usually be subject to lender approval, building and pest inspection. After signing, the property is legally yours in six weeks or less depending on the state.
Pay a Deposit
A deposit is required once a Contract of Sale has been signed by both parties (also called ‘exchanging contracts.’) You won’t yet have access to your home loan, so your deposit will need to come from savings or elsewhere. Speak to one of our staff about your deposit options.
Appoint a Conveyancer
You’ll need a solicitor/conveyancer to check the legalities of the Sale Contract, check all rates and taxes have been paid, land use or building approvals for the property and order any relevant searches. They may also help sort out any inspections. At settlement they check the correct money has been transferred and all fees are paid.
Cooling Off Period (Not Valid in WA)
If you didn’t buy at auction, you may have a cooling off period when you can cancel the contract, although there may be a small penalty. Cooling off periods vary from state to state so check with your relevant state authority in terms of what your rights may be. In WA,the Offer and Acceptance is binding.
Work Out The Numbers
How Much Can I Borrow?
What Will My Repayments Be?
Words of praise from some of our happy customers.
Frequently Asked Questions
Why should I use a broker?
Mortgage (Finance) Brokers are professionals in the home loan industry. A broker will work with you to determine your borrowing needs and how much you can borrow without getting into trouble.
Mortgage brokers can compare prices from over 20 + lending institutions and compare 1000’s of loan products whereas traditional lenders, such as banks, cannot. A bank can only offer you their range of products at their price. Brokers have access to a wide variety of loans. This means your broker can find a loan is just right for you.
Professional Mortgage Brokers only focus on loans. If you have a toothache, you go to the dentist not a florist. If your car is broken you take it to a mechanic not a librarian. You go to someone trained to help you with your specific need. It’s same when you need a loan.
Do you Charge fees?
Some mortgage brokers charge a fee and some don’t. When you take out a loan through a Mortgage Broker – it does not cost you more. That is an absolute myth.
Brokers get paid commission by the banks for bringing new business to them; this does not impact your rate or level of service in any way. If anything it improves your service level as the broker is now more focused on keeping your business long term and to do that your loan needs to succeed. It is in his best interests to get you a good deal. If a broker is charging a fee for their service they must disclose this fee upfront to you so you know what you will be up for if you engage their services.
At Acquest Financial Services we don’t charge fees.
I am not in your area, can we still work together?
Of course, sure thing! We are mobile brokers so we can come to you and we even service some customers through skype! Wherever you are based and whatever time you are available, we can arrange an appointment which is convenient to everyone.
What is a Comparison Rate?
The comparison rate is a tool to help you compare the true cost of various loans. It factors in not just the interest rate, but also the fees and charges. It is displayed in a single percentage so you can easily compare loans from different lenders.
But beware. Not all comparison rates are based on the same loan details. Make sure you read the fine print near the small * to see what loan amount and terms it is based on before using this tool.
Here at Acquest Financial Services we believe in complete transparency and ease of use for you as our customer. All of our comparison rates are based on the same loan so there are no gotchas.
What is LMI?
LMI is short for Lenders Mortgage Insurance. It helps many people access lending for the purchase of a home if they have a low deposit.
This is an insurance premium that is paid at settlement of the loan. It is non-refundable and is added to the amount of the loan. You will pay interest on it. Usually, Lenders Mortgage Insurance allows you to purchase a home with as little as 5% deposit instead of the traditional 20%.
Should I go fixed or variable?
This is a good question and I very determinable by the individual situation and the purpose of the loan. For example, at Acquest Financial Services we are only allowed to recommend a product based on what you say is the most important to you e.g. “pay my loan off quickly” or alternatively “I want guaranteed repayments”.
We do however, live by the following; “if you want flexibility take a variable rate loan, if you want budget certainty take a fixed rate loan, if you want both, then do both” We can work out a plan that will satisfy your needs.
How Much Deposit Do I Need?
Generally you will need between 5 and 20% deposit to purchase a property. If you have a deposit of over 20% you can avoid the extra costs of Lenders Mortgage Insurance.
Let’s Get Started on Fulfilling Your Dream
Call us today, or if you’re busy, enter your details below and we’ll call you at a time that suits.
Phone: (08) 6444 7900