1. Why should you use XYZ Finance?
If you are looking for:
• A wide range of Financial Services including home and investment loans, commercial loans and other financial services.
• Choice of Lenders including major and regional banks and specialist lenders
• Convenience – we’ll come to you or will arrange a time that best suits you
• A Trusted brand
• Professional and Friendly Service
Then let us talk to you about your specific financial needs.
2. What services do we offer?
XYZ offer a team of qualified Loan Writers, accredited with MFAA & highly experienced in all areas of lending.
3. Who can I borrow with?
XYZ offers you up to 27 different lenders to choose from, including all of the major banks, non-bank lenders, regional banks, as well as specialist banks.
4. How many years will it take to repay my loan?
Depending on your circumstances we can show you ways to make additional payments to show you ways to reduce your loan. This could be as simple as making fortnightly repayments rather than monthly ones. Ask your financial adviser for more details.
5. How can I work out if I am eligible for a First Home Buyers Grant?
If you are buying your first home and have never owned an owner occupied property before. Or if you have bought an investment property and never a home you may also be eligible. Best to contact an XYZ consultant to be sure.
6. What assistance can I get as a First Home Buyer?
There are a number of state and federal schemes available to qualify first home buyers to assist them in purchasing their first home. The Federal government provides first home buyers a grant more details can be found at www.firsthome.gov.au.
The state governments also provide a number of First Home Buyers initiatives again these can be found at www.firsthome.gov.au.
7. I can’t get to your office during business hours…
One of our finance consultants can come to your home, at a time that is most suitable to you, to discuss the best options available to you. It is also important to know that you don’t have to be purchasing or selling a property to use us, we can simply do what’s known as a ‘health check’ on your mortgage to ensure that your home loan or investment loan is & will remain structured to your best advantage.
8. What about my personal details, can I guarantee they stay personal?
If you are using XYZ to assist you with your finance, we offer you the security in knowing your details stay with XYZ.
9. What does LVR stand for?
LVR is your loan to value ratio. It is simple to calculate using the loan amount divided by the security available.
10. What is mortgage insurance?
Mortgage Insurance allows borrowers to buy their homes with a smaller deposit than would normally be required.
Mortgage Insurance covers a lender in the event of a borrower defaulting on their loan. This type of insurance does not protect the borrower and should not be confused with Mortgage Protection Insurance.
11. Should I lock my interest rate in?
Fixed interest rates depends on each individuals needs and their perception of the market. Unfortunately no one has a crystal ball to determine the future, however if you would like to talk to someone who has experience, feel free to call an XYZ consultant.
12. What is a line of credit?
A Line Of Credit is a specific banking product. Some people view this as a large credit card – there is a limit on the loan (like a credit card) and you may use the available funds within the limit. Payment is not required unless you have reached or are up to the limit of your loan as it capitalises within the loan limit. A Line of Credit usually bears a higher interest rate than a normal loan due to its features.
13. I don't have a deposit can I still get a loan?
There are many different ways to look at getting a loan, please contact an XYZ consultant so that they can discuss your full situation with you to see what your complete situation is.
14. I have credit card debt am I still able to get a loan?
Yes – there are loans available to you if you have credit card debt, and debt consolidation is definitely available also. Debt consolidation is a huge part of XYZ – please give an XYZ consultant a call to see how we can help you to reduce all your monthly repayments into 1 easy to manage payment. Most of the time we are able to save our clients thousands in interest repayments each year.
15. I already have my home and we still owe money on it, am I able to purchase an investment property and borrow more money?
Yes – why don’t you call an XYZ consultant to find out what your borrowing capacity is for the new investment property. Investment property loans and structuring your existing home so that you are in the right structure is a key speciality of XYZ. We also have a lot of contacts so please let us know if you need help finding the new investment.
16. What documentation will I need?
Before applying, there are some documents you’ll need to gather to support your application. What documents you will need depends on the type and purpose of your loan.
Documents you may need to present include:
• Completed and signed Application Form from the specific lender
• 100 Point Check FTRA Form per applicant i.e. Drivers License, passport
• First Home Owners Grant application (if 1st home buyer)
• Copy of Contract of Sale (for purchase only)
• 6 Months Loan Statements when refinancing a loan
• Rates Notice for existing property used to re-finance
Suggested Evidence of income
If you are working for an employer:
- Group Certificate or Tax Assessment or last year’s Tax Return plus one of the following:
- 2 Current pay slips or a letter of employment detailing employment conditions
If you are Self Employed:
- Last Financial Year tax return including tax assessment notice
- Previous Financial Year tax return including tax assessment notice
If you are not sure about what documentation you need talk to one of our financial services consultants as individual lenders requirements may vary depending on the type of loan applied for i.e. Lowdoc Loans require less information than the above.
Remember if there are any questions we have not answered above or you just want to a have a chat, please feel free to give the Girls at XYZ a call. We want to help you! 1300 357 315