Essentially a mortgage broker is an independent ‘middleman’ who liaises between borrowers and lenders. Our services span from home and investment loans to conveyancing and financial planning! Working on your behalf we:
Manage your entire mortgage process from application to settlement.
The Finance World can be a bewildering maze of options for borrowers. A good Mortgage Broker will save you time, money and potential risks. Just some of the benefits you’ll enjoy working with GM Finance Plus include:
One of the great advantages of a mortgage broker is their independence. We don’t work for specific lending institutions. Rather, we identify the lender with rates and solutions that best suit your needs. So you can rest assured of securing top home loan or mortgage terms.
At GM Finance Plus we have close relationships with a wide range of financial lenders. These include both bank and non-bank lenders. Plus we know the mortgage market in-depth including rate rises, policy and up-to-the-minute products. So we have a full ‘tool kit’ to negotiate the best deals on your behalf. For home loans, business or equity mortgages and refinancing.
None. You are under no obligation to accept any mortgage offer put forward by us.
Some lenders allow brokers to do valuations free of charge at the beginning of the process at no cost to the client. Other lenders will do the valuation as part of the application process at no cost. You may find some lenders that charge a small fee to complete the valuation and if you proceed will refund the cost or deduct it from any other fees. There still are a few lenders that do ask you to pay for the valuation as part of the application fee. It’s best to ask the broker who will let you know up front.
Equity is the difference between what your home is worth and how much you owe on it. For example, if your home is worth $300,000 and you owe $100,000, you have $200,000 in equity. Over time, as you reduce the amount you owe on your home or the value of your #home grows, your equity increases.
To use equity you will need to release it. This is usually done by going to your original bank and asking for a loan increase or taking the opportunity to review your current loan and possibly refinancing to another bank with a better loan for your requirements. The equity can be used for any number of things, from going on holiday to purchasing an investment property to help pay off your own home quicker!!
A redraw facility allows you to withdraw any additional payments that you have made over and above the minimum repayments. If you’ve used the facility and made additional payments you’ve also helped to reduce the amount of interest that you would have paid.
