Why use a finance broker?
As independent brokers, we’re not tied to any one lender, giving us the freedom to access a wide range of products across the market. Our focus is on finding the loan package that truly fits your individual needs, rather than steering you towards a single option. We take the time to understand your goals, compare competitive offers, and recommend the choice that best suits your circumstances – because the wrong mortgage can end up costing you more than it should.
We stay up to date with the latest lender offerings, allowing us to identify where a property or project may attract a sharper interest rate with one institution over another. In some cases, certain lenders even work exclusively with mortgage brokers. This means the rates we can access are often among the most competitive available. We can also negotiate with your current bank or lender on your behalf, which may result in a better deal than you could secure on your own.
What is the process?
We manage every stage of your loan journey – from preparing your application right through to settlement – while providing ongoing support along the way.
Our process begins with listening to your needs, pairing you with your most suitable broker, gathering the right information, and assessing your financial position. From there, we compare a range of options and present tailored recommendations, highlighting competitive rates and key product features from different lenders that suit your situation. We take care of completing the application, collecting the necessary documents, and submitting everything electronically to your chosen lender.
Once your loan is approved, your part is simply to sign the paperwork to finalise your mortgage. We continue to stay involved, ensuring any additional requirements are met in the days and weeks that follow. Our commitment doesn’t end there – we keep in regular contact and review your loan each year to ensure it remains in line with your goals.
What does your service cost?
We don’t charge you anything for helping secure the right standard home loan.
At Slan Finance, we’re paid a commission by the lender once your home loan is finalised. There’s no fee for your appointment or for our service, and lenders won’t charge you extra for choosing to work with a mortgage broker.
What if I have been declined by another bank?
It’s important to note, that whenever you apply for a loan with a lender, regardless of whether it is approved or not, you’ll get a hard enquiry listed on your credit file. These can lower your credit score, one is normally not likely to pose a problem, but multiple unsuccesful entries does give a lender pause. Many applications over a short space of time flag you as a risky borrower and lower your chances of success every time. That’s why it’s important to ensure you’re putting forward your strongest application the second time.
That’s where we come in!
What if I've been bankrupt before?
It might take time to rebuild your credit rating following bankruptcy, but it’s not impossible. There aren’t actually any formal restrictions on applying for credit post bankruptcy, it’s all up to the lender to decide if they want to grant the loan.
There are even specialist lenders out there who consider these types of cases. To ensure you get your highest chance of securing that loan, reach out to our team today and we can work through your options.
Can I get a loan if I work on a contractual or even casual basis?
It’s fair to say most lenders do prefer their borrowers in stable and full-time employment. This isn’t the only option though, many lenders understand people work by contract or even on a casual basis. The decision on whether to accept your income is on the lender’s side of the fence, many prefer to see the work in certain industries and view them as more reliable.
Reach out to us today to see if you’re eligibile for finance. We’ll work through your scenario, help you work out what documentation to source (like a letter of employment outlining your terms) as well as the necessary payslip history.
What if I work full time on a commissions based arrangement?
When assessing potential borrowers, lenders may consider a portion of their commission and penatly rates in addition to their base pay. The portion can range from 50-100% but we find an average of 80% is the norm.
If you’ve got questions about commission employment, how long you need to be employed for or even if it’s possible to have employment considered for a probationary period, reach out to one of our team today.
What if I have a bad credit score?
Your credit score is just one of many criteria that lenders investigate at the time of assessment. When applying for a loan with bad credit, it’s good to check if you can qualify by other criteria. Lender’s might consider other factors such as income, debts and collateral all factor into the loan decision.
We recommend that you discuss your options with an experienced broker to enhance your chances at an approval.
What if I am on a temporary visa?
Provided you can demonstrate a strong income and stable employment as well as the other standard lender criteria, you could be eligbile to borrow between 80-90% of the property value. If you’re married or de-facto with an Australian Citizen or Permanent Resident, there’s a potential for up to 95% of the property value.
The main difference as a temporary resident is that you won’t qualify for any grants or other government benefits, those can only be applied to the loan if you purchase with a spouse who is a citizen or resident and you’re on a spouse/partner visa with them.
If you’re unsure if you qualify, reach out to our team, we’re happy to answer any questions you may have.