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We pride ourselves on ''Simplifying Home Loans, one client at a time."
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Take the leg work out of financing your property by engaging a mortgage broker
If you’re buying your first home or investment property – or looking to move to a bigger and better one – speaking to a mortgage broker is a good first step.
A broker will sit down with you, usually in your own home or another location convenient for you, and show you the range of loans available from different lenders. They will then help you narrow them down to a loan that might suit your needs.
The role of mortgage brokers has evolved. As well as identifying the most appropriate mortgage they’re becoming a key partner in helping borrowers secure other finance – such as personal loans, or leasing- as well as insurance and property-related services.
How Can a Professional Mortgage Broker Help You?
Assessing Your Needs
A mortgage broker will take the time to understand your needs, discuss your financial circumstances, and identify your loan requirements.
As a first step, they’ll discuss your property goals, factoring in your loan requirements in light of your lifestyle, job, family, and other aspects. They’ll also discuss the type of documents needed to assist you in making a loan application – such as pay slips, tax returns, and personal bank statements.
Once they have a clear understanding of your financial situation and goals, your broker will be able to advise you on your home loan options.
A mortgage broker will take the time to understand your needs, discuss your financial circumstances, and identify your loan requirements.
As a first step, they’ll discuss your property goals, factoring in your loan requirements in light of your lifestyle, job, family, and other aspects. They’ll also discuss the type of documents needed to assist you in making a loan application – such as pay slips, tax returns, and personal bank statements.
Once they have a clear understanding of your financial situation and goals, your broker will be able to advise you on your home loan options.
Compare different loan types
As part of their service, your mortgage broker will recommend one or more home loans that fit your borrowing needs. They will be able to search through their database – which usually includes multiple lenders, zoom in on specific loan products that meet your requirements, and discuss the product’s details and features with you.
The sophisticated software brokers now use will not only give you a broad view of your lending options but will also provide an analysis of important specifics of the loan that have been identified as meeting your needs. You can then make the decision on the product you’d like to select.
As part of their service, your mortgage broker will recommend one or more home loans that fit your borrowing needs. They will be able to search through their database – which usually includes multiple lenders, zoom in on specific loan products that meet your requirements, and discuss the product’s details and features with you.
The sophisticated software brokers now use will not only give you a broad view of your lending options but will also provide an analysis of important specifics of the loan that have been identified as meeting your needs. You can then make the decision on the product you’d like to select.
We will manage the loan process - from start to end
When you’ve chosen the loan you’re comfortable with, your broker can help you fill out the necessary paperwork to get the loan process underway.
This might include submitting your home loan application on your behalf, communicating with all the relevant parties, and managing the entire process until your home loan is approved.
If you decide you want to switch home loans or refinance at a later stage, your mortgage broker can also help you source new loans that will suit your financial needs and help you through the process every step of the way.
Your mortgage broker can also assist with your other finance needs – such as arranging home and contents insurance, income protection insurance, or personal loans, for example.
When you’ve chosen the loan you’re comfortable with, your broker can help you fill out the necessary paperwork to get the loan process underway.
This might include submitting your home loan application on your behalf, communicating with all the relevant parties, and managing the entire process until your home loan is approved.
If you decide you want to switch home loans or refinance at a later stage, your mortgage broker can also help you source new loans that will suit your financial needs and help you through the process every step of the way.
Your mortgage broker can also assist with your other finance needs – such as arranging home and contents insurance, income protection insurance, or personal loans, for example.
Your mortgage broker will recommend one or more home loans that fit your borrowing needs
Tips For Saving Your Deposit
Saving for that all important deposit can be tough, but here are three winning tips to help set you on your way to home ownership fast.
Put Your Goals In Writing
Setting a financial goal will make it much easier to plan and save successfully. Make a conscious effort to track your expenses so you can see where your money’s going and cut back where you can. Small sacrifices, such as taking the bus instead of a taxi, cutting back on buying coffee or bringing your lunch to work can also go a long way towards helping you save
Beat The Credit Monster
Credit card debt, unpaid bills and personal loan repayments can be major setbacks to your saving efforts. As part of your saving strategy get these debts paid off. Start by paying off your debts that have the highest interest rate – typically your credit card. If you can’t pay it off in one lump sum, ensure that you pay more than the minimum monthly repayment. You’ll not only slash your debt, you’ll also have extra
Make Your Savings Work Harder For You
Making cutbacks on your lifestyle is one thing, but putting that money to use is another. Remove the temptation to spend your savings by arranging a set amount to be taken out of your pay each month and put directly into a savings account. Shop around, and seek a high interest rate savings account to get the best returns – many banks now offer an online high interest account
Why Use A Mortgage Broker?
Save Time
Your broker can do the groundwork for you, making it easier to find a loan suited to needs. Moreover, they’ll manage the application and approval process.
Industry Expertise
Your mortgage broker knows what loans are out there, so you can expect to receive current information on the most suitable loan options available for your needs.
Reduce Stress
Your broker can reduce stress by helping you source the most appropriate type of mortgage, manage the paperwork and keep you updated during the whole mortgage process.
Centralise Your Finances
With a sound understanding of your financial position, your broker can also assist you in arranging other financial requirements, such as insurance and personal loans.
Switching For A Better Deal
Your life never stands still, and neither should your mortgage. If change is afoot, it might be time to search for a more suitable product.
Pay Off Your Mortgage Faster!
If you’re striving to be mortgage free, there’s a good chance there may be a more appropriate product to meet your needs. Some mortgage products are designed to motivate borrowers to repay their mortgages quickly, so now is the perfect time to talk to your mortgage broker and consider whether a new loan will see you on the road to financial freedom – fast!
Better Interest Rates And Lower Repayments
Rates and mortgage deals are constantly on the move. To make the most of a competitive mortgage market, you might want to evaluate the loan product you currently have.
Consolidate Your Debt
Consolidating your debts, such as credit cards or personal loans, into your home loan can save you thousands of dollars in interest charges. Rolling your debts into one monthly or fortnightly repayment can also help make juggling your finances a little easier, while improving your cash flow to boot.
Avoid Monthly Fees & Charges
Some lenders charge a monthly service fee – further adding to your debt. Competition between lenders has increased and some now waive administration fees, so refinancing your home loan with another provider can be a smart move to help cut your mortgage costs.
Unlocking Equity
As you pay off your mortgage you’ll accumulate equity in your home. As long as you are capable of meeting your loan repayments, refinancing your mortgage can help you tap into the value that you’ve built up, using it for other purposes such as purchasing an investment property.
Are you a First Home Buyer?
There are numerous state and federal Government incentives for First home Buyers. Typically, stamp duty concessions, grants and or guarantees can be applied for depending on your state and certain eligibility criteria.
To check if you qualify for any of these offers, please reach out to us.
Borrowing Within Your Means
While your lender will give you a maximum borrowing amount, it’s essential that you determine your own borrowing capacity when searching for your new home.
How Much Debt Can I Handle?
Don’t over commit. Borrowing too much can be a big strain on your personal life and lifestyle. Think about what aspects of your lifestyle you may be willing to give up, and those that you can’t.
Am I Being Realistic?
Houses are like stepping stones – it’s probably best to start with something affordable and move towards your dream home as your personal earning capacity and equity grows.
What Are My Plans?
Think about what the future might bring for you, both personally and financially. Are you a one-income or two-income household? Do you plan this to change in the future?
What About Interest Rates?
Consider how any rate rise will impact on your ability to make repayments and factor that in when setting your borrowing limits. And don’t forget, there are added extras when purchasing a house, like solicitors and application fees, as well as ongoing commitments including council rates and utility bills – so consider these costs when determining how much you can borrow.
Your mortgage broker will recommend one or more home loans that fit your borrowing needs
The Pick Of The Bunch
There’s a huge choice of home loans available, but to find the right match you’ll need to do a bit of homework.
Making yourself familiar with a few of the popular products available will give you a strong head start when discussing your loan options with your broker. Here are just a few of the product types you’re sure to come across.
01
Basic Home Loans
Basic home loans or ‘no frills’ loans offer borrowers a loan with a low interest rate. A popular choice among first-home buyers, a basic home loan’s interest rate is often half to one percent below the standard variable rate, which is sometimes combined with minimal ongoing fees. Drawbacks include limited features, less flexibility, and additional charges if you decide to switch loans or pay the loan off sooner.
02
Fixed-Rate Home Loans
Worried about rising interest rates? A fixed-rate home loan will allow you to fix your interest rate for a specific period, usually from one to five years. It’s a sound option when interest rates are on the rise, or in times of economic uncertainty. Should interest rates plummet, however, you’ll still have to pay off your mortgage at the fixed-rate until the end of the agreed period.
03
Standard Variable-Rate Home Loans
Making cutbacks on your lifestyle is one thing, but putting that money to use is another. Remove the temptation to spend your savings by arranging a set amount to be taken out of your pay each month and put directly into a savings account. Shop around, and seek a high-interest rate savings account to get the best returns – many banks now offer an online high-interest account.
04
Split-Rate Home Loans
Want the best of both worlds? A split-rate home loan offers both flexibility and security. A good product for both first-time and existing borrowers, split loans allow you to customise your loan’s interest rate as you see fit: fixing a portion of your interest rate to give certainty to your monthly repayments should rates increase, but also flexibility through taking out a variable-rate portion.
05
Interest-Only Home Loans
Interest-only loans offer borrowers lower repayment options while maintaining many of a traditional loan’s features. This type of loan allows you to pay only the interest component on a mortgage; it does not reduce the principal component. They are a popular choice for investors seeking good capital appreciation on their investments.
06
Low-Doc Home Loans
Low-doc home loans If you’re a self-employed, contract, or seasonal worker and do not have a regular income, a low-doc loan may be a solution. While making homeownership a possibility for a cross-section of Australian workers who previously found it difficult to secure a mainstream bank loan, most low-doc home loans typically have higher interest rates.