About Us
Paul Loupetis
Having started his career in finance with Westpac Banking Corporation in 2001, Paul saw the opportunity to move into the mortgage broking industry in 2005 where he has gained valuable experience over many years and helped hundreds of clients achieve their goals. Paul has completed his Diploma in Financial Services (Mortgage Broking) and has won numerous achievement awards throughout his career.
Paul is the head mortgage broker and director of L5 Finance and personally looks after the loan process, helping to clearly explain current lending products and processes required in all aspects of finance. Starting with a clear understanding of each client’s personal financial needs and goals, Paul will work with you towards a pre-approval all the way to settlement and welcomes the opportunity to assist you.
When he’s not helping people source suitable mortgage and finance products, Paul enjoys martial arts, music & spending time with his young family.
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.
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.
