Mortgage Broking in Essendon

You do not pay us on residential lending, so the question is really whether a broker adds anything over your own bank, and at Essendon loan sizes it usually does. On a larger loan, structure matters more than a small difference in rate. Whether your existing home is cross-secured against a new purchase, whether an interest-only period is set to expire at a bad time, and whether you qualify for a professional lenders mortgage insurance waiver are all decisions worth more over a decade than a marginal rate difference. A bank can only structure within its own product set; we compare several and explain the trade-offs.

Nothing on standard residential lending, whether that is a purchase, a refinance or an [investment loan](/investment-loans). Our commission is paid by the lender at settlement, typically around 0.65 per cent of the loan amount plus GST upfront plus a smaller ongoing trail, and it does not affect your rate or your balance. Fees arise only on commercial and complex business facilities, where you would be told the amount in writing before any work began. Larger loan sizes do not attract a larger fee from us, because there is no fee.

Usually not, and this is the single most consequential decision on these files. Cross-collateralisation, where one lender holds both properties as security for both loans, is convenient for the lender and restrictive for you. It complicates selling either property, because the lender must reassess the whole position and may require sale proceeds to reduce the remaining debt. It makes moving one loan elsewhere difficult without unwinding everything. And it concentrates your entire portfolio with a single lender, so one policy change affects all of it. We prefer a standalone structure with a separate equity release wherever the numbers permit, and if cross-securing genuinely is the only way a purchase works, you will be told that explicitly rather than have it happen quietly.

High income and high borrowing capacity are not the same thing, and the gap is usually explained by four things. Credit card limits are assessed at the full limit regardless of the balance, so an unused $30,000 limit is treated as debt. Existing investment debt is assessed at a buffered rate, and some lenders assess other lenders' loans far more harshly than others. HECS-HELP repayments scale with income, so they bite hardest at exactly the incomes that feel comfortable. And private school fees, childcare and novated leases are all counted as commitments. Because lenders weight these differently, the same household can be assessed tens of thousands of dollars apart across two lenders.

Yes, along with Essendon North, Airport West, Keilor East and Ascot Vale. These suburbs share Essendon's profile fairly closely, with substantial period housing, higher price points and a strong upgrader and investor market, though Moonee Ponds carries considerably more apartment stock which brings its own lender size and postcode rules. Essendon Fields is a distinct case, being largely commercial and business-park property rather than residential, and that work runs through our [commercial loans](/commercial-loans) side. Call 0485 011 020 with the address.

That is a bridging loan, and it is a common requirement among Essendon upgraders. A bridging facility funds the new purchase while your existing property is still on the market, with the combined debt referred to as peak debt, reducing to the end debt once the sale settles. Most lenders allow a bridging period of six to twelve months and will assess whether you could service the peak debt if the sale took longer than expected, which is the real constraint. Interest is typically capitalised during the bridging period rather than paid monthly. Not every lender offers bridging and terms differ substantially, so it needs the right lender chosen at the outset.