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FAQ

What is a mortgage Broker?

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:

  • Research lending solutions offered by a wide range of lenders.
  • Secure the best rates & mortgage packages to suit your needs.
  • Advocate on your behalf in lender negotiations.

Manage your entire mortgage process from application to settlement.

Why Should I engage a Mortgage broker?

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:

  • Free impartial expert mortgage & home loan advice
  • All legwork done in assessing finance options & gaining approval
  • A dedicated advocate in lender negotiations & a seamlessly managed mortgage process
  • Faster answers on your home loan or mortgage application
  • Genuine choice of lenders whose solutions match your individual requirements

Do mortgage brokers work for particular lenders?

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.

How do mortgage brokers get better home loan rates than I could get?

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.

What are my obligations when I work with GM Finance Plus +?

None. You are under no obligation to accept any mortgage offer put forward by us.

Do I have to pay for a ‪valuation‬?

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.

What is equity?

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.

How do I use Equity?

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!!

What is a re-draw facility?

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.

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Our Blogs
  • How many ways can you buy a car?
    December 6, 2017
  • Borrowers warned to brace for across-the-board mortgage rate increases
    May 29, 2017
  • 11 Reasons You Need a Mortgage Broker
    May 12, 2017
What Our Clients Have To Say…
  • Greg offered great advice and support throughout. Nothing was too much trouble and everything Greg said he would do got done. Would highly recommend giving Greg a call.

    Neil Green – Helensvale, Qld
  • Greg at GM Finance enabled me to secure the property in Queensland that I wanted. His professionalism, persistence, support and rapport was second to none. I would certainly recommend his services to anyone looking for a broker that gets property ownership and investing. Thanks Greg!! read more

    Kerri H – Maiden Gully, VIC
  • I found Greg very helpful and knowledgeable.He was able to help me refinance and purchase a new home very easily.He was always available to answer any question that I had.I would recommend Greg to my family and friends to assist them with purchasing a home

    Jane – Sydney, NSW
  • Thank you so much Greg for assisting us with our finance requirements! Your help, patience and knowledge are greatly appreciated. We would certainly recommend you!!

    Cohn and Maria Vosdoganis – Indented Head, Victoria
  • We would highly recommend Greg (GM Finance Plus) even if you think you are getting the best from your bank. Greg has made refinancing and purchasing a new property at the same time easy, seamless and stress free, something we thought would not be possible in the time frame we had. We are so grateful for Greg’s professional and timely advice and service, his honesty and genuine care for his clients. We will only ever go through Greg and GM Finance Plus and the team of amazing people around him for property purchases in the future and cannot recommend him highly enough. Thank you so much Greg, you have made a huge difference for our family.

    Robert McR – Elanora, Gold Coast, QLD
  • Greg from GM finance Plus has overwhelmingly exceeded expectations on getting those banks to bend to our needs, fighting for the little guy to get what we need. Working with numerous banks and Solicitors from all sides to get the job done, facing the brunt instead of us being brought to our knees in tears if we had done it alone. Thanks Greg for a job well done. read more

    Peter and Brenda – Upper Flagstone, QLD
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2018 © GM Finance Plus
Greg Mason, Authorised Credit Representative, 431719 of Vow Financial Pty. Ltd. ABN 66 138 789161, Australian Credit Licence 390261
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