About company
Welcome to My Home Loan, We are home loan experts dedicated to making sure your home purchase, investment property or refinance experience is first class.
Being part of a larger network allows us to leverage the experience across a range of services to ensure you have the utmost professional advice and experiences at your fingertips.
Our service philosophy is holistic and our aim is to put you into your optimal financial situation.
At the end of the day, this is all about you - our valued clients.
We are in partnership with the renowned National Lending Group (NLG) to provide you with the Synergy by incorporating the vast experience and resources of NLG and My Home Loan that will provide you with the personalised and dedicated service.
Our primary job is to find the right solution (to suit your requirements) for you in a loan. We do that by assisting you to navigate the choices and changes in the market.
We then continue to bat for you by negotiating on your behalf. Once we have found a loan, we like the look of, we’ll help manage the whole process for you.
We are governed by strict compliance and monitored continuously. This protection and service level is outlined in our Credit Guide.
Loan Types
What we Offer
One of the hardest things to understand are the types of loans available in the market. It seems almost every year the banks bring out a new product, however, we have kept it simple with the types of loans that suit 99% of borrowers.
Variable Home Loan
With a Variable rate home loan the interest rate can change at any given time, as the lender sees fit. While usually aligned with the Reserve Bank changes (First Tuesday of each month), this does not stop a lender from changing the rate at any given time.
You can generally make unlimited repayments on these as well as allowing you to pay off the loan faster than the standard term. And should you need some or all of the additional repayments back, a “redraw” facility allows you to do this. There are generally no exit fees when leaving a variable rate home loan.
Fixed Rate Home Loan
With a fixed rate home loan, your interest rate is set for a specific period of time (1-10 years in general). This means you will have certainty around the amount you need to repay, the lender, and your repayments are also fixed for this period of time.
Generally, you may be able to make a small additional repayment to the loan if you have some spare cash, but in most circumstances you are unable to “redraw” this money.
There is generally a “break Fee” if you wish to exit the loan early. And we would highly advise against using a fixed rate to “beat the banks”, however if you need certainty around your repayments for a period of time this loan could be suitable.
Offset Home Loan
An offset account is simply a transaction account attached to your home loan. The balance of the transaction account is “offset” against your home loan meaning the interest charged on your home loan is calculated on the home loan balance minus the transaction account balance.
- Home loan balance $350,000.00
- Offset account balance $25,000.00
An example is as follows:
Interest charged on $325,000.00 (@ 3%pa is $812.50 per month)
Interest charged on $350,000.00 (@ 3%pa is $875.00 per month)
Saving you $62.50 per month or over the life of the loan approx. $22,500.00 - just by using your money smarter!
Construction Loans
If you decide to build a new home or investment property, the loan you need will be slightly different from others you can obtain.
Construction loans are generally interest only for the build period, and will increase in value as the build progresses.
- Deposit
- Base
- Frame
- Lockup
- Fit out
- Completion
Generally there are 6 stages being:
It is critical to work with us to ensure you have the available cash flow to make these repayments while you are renting or living elsewhere. We also help with sorting out the progress draws for each stage which can be a mess if not handled correctly.
Vehicle & Equipment Finance
Looking for a new car or some new machinery for your business? We can help you find the right loan for your situation. These can include Hire Purchase, Lease or Chattel Mortgage….whatever suits you
Transparent process
Why people choose us
What makes us unique in the mortgage broker industry is our 8 step process to ensure your home loan is appropriate for you not just today, but ongoing as well. The journey we take you on will ensure you have the tools and team to get ahead financially.
Understand
We take our time to understand your fears and aspirations, along with your previous experiences to truly understand how we can best help you.
Analyse
More than just analysing data, we also analyse your expectations and hesitations. This way we get to form an accurate picture of your current situation and where you want to get to, what obstacles we may encounter and how to overcome them.
Set Meaningful and achievable goals
These are your goals – you own them 100%, but we do this jointly to ensure the goals are not only realistic but there is a clear path to achieve them.
Educate and Empower
At this stage we spend a lot of time ensuring you completely understand the process from the very start, right through to what may happen and contingency plans if required. Once you are fully educated you will be able to make your decision confidently.
Negotiate
Any Mortgage Broker worth their salt will ensure they push the lenders as hard as they can for the cheapest possible Interest rate and lowest possible fees. With over 30 lenders available to us, we take the time to negotiate with the lenders to ensure you get the best possible deal.
Recommmend
Once we have a comprehensive understanding of your situation, goals and aspirations we then recommend the right solutions for you. This may also include referrals to other trusted advisors such as accountants and investment specialists.
Implement
The most important stage is to properly implement the plan. This can be a one-off product or a multi-step program depending on your situation. Our team will ensure a timely and hassle free process so you can rest easy while we ensure everything gets done.
Review
Every year we review your loan and will pro-actively ask your current lender for a discount on the interest rate. This ensures you will always be ahead of the market and help you get ahead financially.
Copyright @ My Home Loan Services Pty. Ltd. ALL RIGHTS RESERVED. CRN 542773 | ABN 35 661 189 180 | ACN 661189180.
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