FAQ

A mortgage broker is someone who searches for a home loan that’s right for you. Whether you’re in the market for a first home or building a portfolio of investment properties, we have access to hundreds of loans from a range of Australia’s leading lenders.

You can see us at any stage in your financial journey. You might still be saving for a first home, wishing to use the equity in your current one, or wondering if you’re still getting the right deal with your existing lender. You can make an obligation-free appointment with us at a time and place that suits you.

That is one of the most frequently asked questions and something that needs to be carefully considered before signing loan documents. It comes down to what you think is right for your financial situation. Speaking to a broker is a good way to find out what loan is most appropriate for you.

A broker will not force you to take out a product; they recommend a loan that will fit your needs and take care of all of the paperwork and application requirements. If you would like a specific type of loan, a broker is able to compare a wide range for you.

This is the reason why most people change lenders. There may be a penalty clause in your current home loan, meaning you may need to pay a discharge fee, but it could still be in your financial interests to change. When shopping around, it is always important to look for the comparison rate of a product. A comparison rate is essentially the true rate, taking into account the fees and charges you will pay on the loan. So a lower rate doesn’t necessarily mean the repayments are less. St James Finance are happy to assist you with home loan refinancing.

You can walk away from most mortgages, although penalty fees sometimes apply. We can help you to review your options.

It depends what kind of product you have. If you’re concerned about rising rates, perhaps consider a fixed rate home loan, where repayments are fixed for a period from one to five years.

Banks and other lenders pay different amounts for the money they on-lend. They have different overhead structures and different profit expectations that affect how much they charge to lend people money.

The last three to six months of mortgage statements are sufficient to begin this process. St James Finance can advise on other documentation.

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