Frequently Asked Questions About
Mortgage Brokers
1. How do you compare to the major banks?
By taking the time to learn about your situation, financial and otherwise, we discover a solution to suit your needs. With thousands of loans to choose from, we have the flexibility to devise the right package for your short and long term financial future.
Most importantly, we do all the negotiating for you, so you don’t have to deal directly with any finance provider if you don’t want to (and many people don’t). We have the confidence and the skills to go into bat for you.
2. Struggling to Obtain Finance?
We understand sometimes, for various reasons, it can be hard to get finance. Being self employed ourselves, we’ve had to obtain finance too! Allow us to seek out solutions, options and possibilities for you.
Even if you’ve had problems with repayments or credit ratings in the past, it never hurts to enquire. You’d be surprised who we’ve been able to help, using our knowledge of the lenders, their requirements and our superior negotiating skills. Put yourself in the hands of the experts.
3. How am I ever going to save up for a deposit?
By working with you and your situation, we offer you long term solutions, not just a short term fixer. Use our financial expertise to set up a realistic savings plan and you’ll surprise yourself with how much you can put away for your house deposit.
Showing your capability to save money and sticking to a plan will always stand you in good stead for any loan application. We can also talk about offset accounts and frequency of payments, as alternatives to reduce your interest bill and pay off your home sooner. Just ask us.
4. Do I need to be an expert on financial matters to get help with my mortgage?
Mortgage Box provide the knowledge and credit advice as part of our service. Don’t know how much you can borrow? We’ll help you find out. Not sure whether to choose a fixed or variable loan? Talk to our professionals.
There’s no “one size fits all” loan solution, so we firstly discover what suits you and what you’re comfortable with. Then we seek out the right loan scenario for your circumstances. You’re never just a number.
5. Can my ideal loan come from sources other than the big banks?
Mortgage Box has access to over sixty lenders, all of whom offer their own individualised services.
If you’ve not enjoyed dealing with any of the “big four”, you may find a much better experience with a smaller, more boutique establishment, or one operating only in your local area. Our specialised software can make the comparisons for you, and then we’ll do the negotiating. Simple!
6. What do I need to prove when servicing a mortgage?
Mortgage Box will work with you to plan and budget, making sure your income and expenditure are in good balance, with a cashflow available to service your debt, paying off your new home and keeping your mortgagor happy.
It’s not hard to set up automatic funds transfer between your accounts so you’ll never miss a payment. Or we can help you consolidate your debt, refinance your other loans, using 20 years experience to structure the right loan for you.
7. What should I do if things don’t go to plan financially?
So if you lose your job, are injured or worse, your mortgage will continue to be paid, disrupting your family as little as possible at an already stressful time.
And if you have an investment property, we can organise Landlords Insurance too, protecting you from tenant issues, default and non-payment of rent, keeping your investment loan paid up and in order.
8. What types of loans do you offer?
At Mortgage Box, we offer a variety of loan products, including fixed-rate loans, variable-rate loans, interest-only loans, Home Loans, Investment Loans, Bridging Loans, Vehicle and Asset finance and much more. Our goal is to provide tailored solutions to meet your financial needs.
9. What documentation do I need to apply?
To apply for a loan, you typically need to provide identification, proof of income, bank statements, and details about your assets and liabilities. Specific requirements may vary based on the loan type.
10. Can I get a loan if I’m self-employed?
Yes, self-employed individuals can qualify for loans at Mortgage Box. You may need to provide additional documentation, such as tax returns and profit and loss statements, to demonstrate your income stability. We also have solutions if you do not have tax returns. Contact us to discuss your circumstances.
11. What are your fees?
At Mortgage Box, we don’t charge a fee for everyday mortgages. Fees may apply for very complex loans or special circumstances. We recommend discussing your specific situation with us to understand any potential costs involved.
12. What should I do if my loan application is declined?
If your loan application is declined, don’t be discouraged. Mortgage Box will review the reasons for the decline and help address any issues. We can also explore alternative loan options.
13. How long does the loan approval process take?
The loan approval process typically takes between 3 to 5 business days, depending on the complexity of your application and the completeness of your documentation. This can vary from lender to lender. We strive to keep you informed throughout the process.
14. Can I refinance my existing mortgage with Mortgage Box?
Yes, you can refinance your existing mortgage with Mortgage Box. Refinancing can help you access better rates, reduce your monthly payments, or tap into your home’s equity. Contact us for more details on the refinancing process.
Have more questions?
We’re here to help with any additional queries you might have. Whether you’re unsure about the loan process or need more specific information, feel free to reach out to our team. We’re dedicated to providing clear answers and guiding you through every step of your financial journey.