0438 322 648

Got a question or need some help?  Give us a call, we’d love to chat.  
0438 322 648

Got a question or need some help?  Give us a call, we’d love to chat.  
0438 322 648

Some FAQ’s

Why use us?
  • We get tough loans approved, not just an average mortgage broker.
  • Our services are free for all types of loans.
  • Personal solutions, get the right loan at the best rate.
  • Access to over 40 lenders including all the major banks.
  • A full member of the MFAA and AFCA, ensuring professional and ethical lending practices.
Will you charge a fee for your services?

No, there are no fees for you to use our service.

Why should I use a mortgage broker instead of going directly to the bank?

Free service – We don’t charge any fees for our service.

Choice – We find you the right loan at the best rate from over 40+ lenders.  Why would you limit yourself to just one option or bank?

Mobile – We come to you at a convenient time and place of your choosing.

Personalised service – We provide amazing service,  from the first phone call right up until the life of the loan.  Our customers are customers for life.

Ongoing service – We will review your loan to make sure that you continue to receive a great deal from you existing lender and we are always just a phone call away if any issues arise or you would like to run something by us.

Simplicity – We take the stress out of applying for a loan and do all the ground work, so you can get on with the more important things in life.

There are lots of good reasons why more than half of Australians now use a broker to secure a home loan. Probably the most important one that is we work for you, not the banks. We speak to you first to find out what you need, and then we use our knowledge of the market to  better negotiate with the lenders. Then we get a range of options before we work out which one is right for you, not what’s right for the lenders.

How are mortgage brokers paid?

We are paid by the lenders for introducing new loans, we do most of the work that would otherwise have to be completed by the bank and clog up their resources.

Most of the lenders pay us an upfront fee of 0.65% of the loan amount and a deferred upfront of 0.15% trail.  Excluding GST.  If a customer is not satisfied with their lender and decide to leave then we are no longer paid any trail and the lender does have the ability to claw back some of the upfront commission.  So it is definitely in our best interest that we recommend the most suitable product for all of our customers.

Are you owned by a bank or have any incentive to recommend certain lenders?

No, we are not owned by any bank and we are proud to offer an independent service where we do not receive any added incentive for recommending a certain lender.

Our business is built on word of mouth.  We want our customers to be extremely happy with the service we provide and recommend their family and friends. 

Many large broking firms are owned by lenders or have large shareholders that are banks.  We are 100% family owned and run.

We don’t live near your office, which is on the Mornington Peninsula, can you still help us?

Yes, absolutely!  We provide an Australia wide service.  We love meeting our customers face to face when in Victoria, however when that is not possible we are still able to provide a personalised service that will get results for our customers and their loan approved.

Can you help me with a pre-approval and how long do they last?

Yes we can.

If you haven’t started your property search, or are still looking, a pre-approved loan can be useful. It gives you a clear picture of what your spending limits are and gives you peace of mind that if you find a property you’re really interested in you can move quickly to make an offer. And it may put you in a stronger negotiating position than other potential buyers who don’t have pre-approval. Of course, even with a pre-approval, a subject to finance clause is an important protection in any sale contract

Can I still get approved with a great rate if I don’t fit the normal criteria of the bank?

Yes, as mortgage experts we understand and are across the credit policy of over 40 lenders.  We can work with you to make sure you get the right loan at the best rate.

How much deposit do I need?

Generally you will need a minimum of 5% deposit.  You will still need to satisfy the lenders other requirements of being able to make the repayments, have steady employment and a good credit rating.  Best to give us a call and we can help you work through your budget and your options.

What is Lenders mortgage insurance (LMI)?

If you need to borrow more than 80% of the property price, then you will usually have to pay Lenders mortgage insurance (LMI).  Lenders mortgage insurance does not protect you, it is there to protect the lender in case you default on your loan. 

We are passionate about finding the right solution for all of our customers. 

From the excitement of a first home buyer to the complex restructuring for a major investor.  We love what we do and we don’t take it lightly.

New Patch Mortgage Brokers Pty Ltd (ABN 30 619 125 82) is an Authorised Credit Representation (499303) of AFG limited – Australian Credit License (389087).
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