Can I use equity in my current property to invest?
Often, yes. If your property has increased in value, you may be able to access equity to use as a deposit for your next purchase. We assess this carefully to make sure the strategy is sustainable.
What’s different about construction loans?
Funds are released in stages as your build progresses. You usually only pay interest on the amount drawn during construction. We guide you through the entire process.
Do I pay to use LoanBuddy?
In most cases you do not pay for our services. If there is a fee to pay you will be notified up front before your application is submitted.
Can I buy property through my SMSF?
Yes, if your SMSF is set up correctly and meets lender requirements. SMSF lending has stricter rules than standard investment loans, so it’s important to structure it properly from the start.
Can LoanBuddy help if I have a poor credit history?
Not all credit issues are the same. We review your situation upfront and let you know what’s possible and whether anything needs to be addressed first.
Am I ready to speak to a mortgage broker?
Whenever you have a property objective, be it buying a new home or refinancing your current one, it’s time to have a conversation with a mortgage broker, or, as we like to refer to them, our ‘home loan experts.’
We’re here to guide you on your journey, helping you reach your destination, wherever that may be!
What documents will I need for a loan application?
Most lenders will ask for identification, proof of income such as payslips or tax returns, recent bank statements, and a summary of your existing debts and living expenses. To make the process easier, we provide a simple, tailored checklist based on your individual circumstances.
How much can I realistically borrow?
It depends on your income, expenses, debts and lender policy. Online calculators are a guide only. We assess your position properly and give you a realistic borrowing range.
How does LoanBuddy get paid?
Lenders compensate us to help you secure an outstanding home loan.
Why do they do it? Well, lenders highly value new customers, and our role involves handling many of the complex tasks that lenders typically perform to guide you through the home loan process. Hence, they reward us for our assistance.
Importantly, we’re impartial in our recommendations. As mortgage brokers, we are legally obliged to prioritise your best interests when suggesting a home loan.
Rest assured, choosing us won’t result in higher loan costs compared to going directly to a lender. In fact, we often secure better deals for you than the advertised rates.
Think of us as your trusted allies. We’ll always provide full transparency regarding any commissions, as disclosed in our documents.
How long does the mortgage approval process usually take?
Depending on the lender it can take anywhere from a couple of days to over a week. We manage the entire process and keep you updated throughout.
We are an Australian Mortgage Broker business. At LoanBuddy, we pride ourselves on being more than just home loan experts. We’re your trusted partners in making you feel secure about your home loan choices.
Our powerful combination of cutting-edge technology and extensive experience is your key to discovering ‘the perfect’ home loan from a selection of over 30 lenders and thousands of loan options.
