In Australia, it is now tougher to get a home loan thanks to the scrutiny of the Banking Royal Commission, having put banks under tighter measures than ever before. Then there’s the Australian Prudential Regulation Authority (APRA) who have further put banks under notice to slow investment lending.
Although these tougher measures are there to help reduce the incidence of borrowers defaulting on their mortgages, it does make it quite tough to borrow through the major banks. With a large array of smaller banks and non-bank lenders, Finetiq can help you in the vast sea of lenders.
The smaller lenders have stepped up to fill the void left by the big banks; and borrowers are moving to them in droves. The big 4 advantage is brand recognition. Access to a large branch network used to be one of their selling points, but let’s face it, with the huge explosion of cash-less banking, it is rare that you need to step foot in a branch nowadays. The big 4 have seen huge declines in branch usage and have been steadily reducing their branch footprint for some time now.
So why should I use Finetiq to help me with a loan?
1. Access to over 50 Lenders
With a vast array of bank and non-bank lenders catering for all types of loans including home loans, business & commercial loans, development finance, car loans and personal loans, we have the ability to put you in the most appropriate loan. So why so many lenders? With choice comes competition. We can ensure that the products we recommend meet your requirements as closely as possible whilst also delivering a competitive result.
With so many lenders, there are many different lending policies and criteria. Each lender has their methods of calculating living expenses and their policies around acceptable income sources. So what may fit some lenders may not necessarily fit others. For example, which lenders accept casual employment and what is the minimum employment period? Which Centrelink income is acceptable? And what if I have some previous credit impairment, can I still get a loan? It’s our job to find a lender that’s suited to your individual needs and circumstances.
2. Negotiate Sharper Rates
The great thing with having so many lenders vying for your business is that we have the ability to do some heavy negotiating to help get a better outcome for you. The advent of smaller lenders in the market has made it possible to get better results. Some of the “boutique lenders” have lower operating costs as they have a reduced footprint in the branch network space. So this gives them to ability to become competitive against the big 4.
3. Customer Satisfaction
Our business is built upon repeat and referral business. So we go above and beyond to make sure you are delighted with our service. If we don’t delight you, then how can we expect repeat business? Our clients love what we do for them. Here’s what some of our customers have to say.
4. Online Fact Find & Document Collection
In our new world, online interactions are a crucial part of doing business. Our interactions with clients are face to face when possible but we also have a full suite of online tools to help in our new way of working. Our tools have not just evolved recently with the onset of the Corona Virus. They have been part of our DNA to ensure we have a sustainable and user-friendly way of working with our clients. Our online platforms can be accessed via mobile, tablet or PC. So in our busy lifestyles, you can do what you need whilst on the go. Gone are the days of traditional paper fact find forms of print, fill, scan then email. Having said that, some of our clients do prefer the more traditional ways of working so we can still provide paper fact find forms if requested.
5. Help with Government Grants
Did you know that as a first home buyer, you may qualify for some government assistance in the form of a first home owner grant as well as reduced or no stamp duty altogether. Each state has its own criteria but we can help you wade through all the details with your application.
Another little known government grant is the boost the federal government has offered to help reduce the Corona Virus effects on the building industry. This grant is known as the Home Builder Scheme. It’s a $25,000 boost and the best thing is that it’s available to Australians who want to build or renovate; not just first home buyers. But it’s only available till the end of 2020. So get in touch quickly and we can show you how you can get access to it.
6. Complete Range of Loan Products
People often tend to think of using mortgage brokers only for home loans. In fact, some mortgage brokers only work in the home financing space. However, did you know that Finetiq can help you with other loan types too? Car loans, business loans, property development finance, investment loans, commercial property loans and many others are examples of the loans we arrange for our clients. So in your busy life, you can rest assured in the knowledge that we will provide all your finance objectives in a manner best suited to you.
Where to from here?
Our online fact find is the first port of call. If you’d like to get started, just click the button below. It’s that simple. Or if you want to chat about your lending objectives or would like to see how we can help you, please call us on 03 8560 5000.
Disclaimer: The content of this article is general in nature and is presented for informative purposes. It is not intended to constitute tax or financial advice, whether general or personal nor is it intended to imply any recommendation or opinion about a financial product. It does not take into consideration your personal situation and may not be relevant to your circumstances. Before taking any action, consider your own particular circumstances and seek professional advice. This content is protected by copyright laws and various other intellectual property laws. It is not to be modified, reproduced or republished without prior written consent.