Mortgage Broker In lithgow

If you are looking to buy a home, refinance your existing home loan or would like to talk about debt consolidation, then talking to your local mortgage broker in Lithgow could be the best thing you can do.

You can find a mortgage broker in Lithgow by contacting Jeff at Homeloan Plus.

The local Lithgow area has gone through many changes over the years, but what we have noticed is how many local major banks and branches have either downsized or closed. 

This has left many Lithgow residents disappointed as it has taken away lots of jobs and the customer service many of us enjoyed.

With the changes also comes the lack of choice or the ability to just walk into your bank and meet your local branch or lending manager for a chat. Now you need to book in weeks in advance or they will just send you to their online services.

This is were using the services of a mortgage or finance broker can help you work through a list of lenders with all their options and finding out your possible borrowing capacity.

• You have a choice of home lenders -  as a mortgage broker we have over 30 home and investment loan lenders available to review.

• For car loans and personal loans in Lithgow - We have over 70 lenders that we can look at to compare personal loans or car loans to find what suits you best without affecting your credit score.

• Customer service - We respond and answer all your questions in a timely manner and are  available after hours, when the banks are closed.

• Strategies - We work with you to provide solutions and provide help in understanding different loan terminology and different ways that we can structure your loan.

• Buying your first home - We enjoy helping first home buyers and walking them through the journey of the finance world and holding their hand each step of the way in order to secure their finance, make the most of any government grants available and be there to answer any questions that will arise, all in a timely and friendly manner.

• Paperwork -  We do all the paperwork to get your application ready for submission to give it the best opportunity for an approval. All you need to do is complete our fact find so that we know more about you. Then upload or email through the supporting documents we require, and we will do all the rest.

• Loan submission and follow up - You leave this to us to deal with the lenders. Our role is to keep you informed as your loan progresses through the system and follow up with any lender requests for extra information.

• Approval and loan documents - This is the enjoyable part of our work where we get to pass on the good news that your loan has been approved by the lender, and then we follow up to ensure your loan documents are issued for signing.

• Settlement and follow up - We often liase with your legal side and the lender when settlement is due to make sure all the numbers work and of course give you a call when everything has settled.

• After your loan has settled - We are never far away, and we will always be available to answer any questions after your loan settles and any lending questions moving forward.
  We will be in contact regularly with a phone call and our monthly newsletters.

When a mortgage broker writes a loan, and the loan gets approved and drawn down, the broker or their firm will get paid an upfront commission on the loan draw down amount. This can range from 0.55% to 0.7% of the initial draw down.

Brokers also get paid a trailing commission on loans written, just like how financial planners gets paid for funds under management. This is usually in a range of 0.1% to 0.15% of the trailing balance each month. 

But its not all good news for mortgage brokers on how we are paid from the lenders as we also have what they call a claw back agreement written within in the lenders agreement with the mortgage broker. 

This means that if a loan is discharged within the first 12 months the lender will take back 100% of the upfront commission paid to the mortgage broker.  After 12 months and up to 24 months they will take back 50% of the commission paid.

Could you imagine going to work and picking up your pay cheque with $0 pay this week and when you question the boss he goes. 

“Well, that job that you did 6 months ago, the customer decided they needed to change and doesn’t want it anymore, so we have taken your weeks wages off you to cover our costs”. 

We understand that sometimes peoples circumstances can change, like selling their home, a separation or just a simple "I do not like that lender". 

If I we had written your loan and this was to happen, all we ask is that you keep us informed of any changes and give us a call to let us know.