Home Loans on the Sunshine Coast

Our rock-solid 10 step process

Home Loans Sunshine Coast — we are here for you!

Looking for home loans on the Sunshine Coast? Look no further! Guide Financial is an experienced mortgage broker working with over 50 lenders and financial institutions to find the best home loan for you.

When it comes to home loans, there is always a first time for everyone. That’s why we have put together a handy 10 step process for our Sunshine Coast clients.

We have helped numerous Sunshine Coast families with their first home loan, and many others wanting to refinance for an upgrade or just to get a better rate on their current home loan. We know how important advice and ongoing communication are so we take care of the details in the background and keep you informed of the aspects pertinent to you.

Our 10-step process to securing a great home loan will guide you through how the process works. See the table below.

Also, as we are a financial advisory services firm, we will provide recommendations that best serve your interests in all things. This means, with your home loan, we will factor in all variables to ensure you can get the best rates and terms possible for your unique situation. If you are self-employed, for example, we will consider home loans from vendors likely to be more favourable to your circumstances. To determine the optimal term of your loan we consider your family and potential earning situation. We will weigh up the challenges of Mortgage Insurance and a bigger deposit against inflation and rising house prices. We will go the distance for you.

In today’s hot property market it is still possible for people to become a home owner. We can advise on strategies and offer services around budgeting to help you realise your dream in a manageable way and guide you on the best way for you to move forward.

Get in touch today!

Help me with a Home Loan

Our Rock-Solid 10 Step Process

Whether you’re a first time home loan applicant or buying a subsequent property, our 10 step home loan process will guide you through the process. You’ll know all the steps and what’s to come.

What Happens

You let us know if you are looking at purchasing a property or wanting us to compare lenders to see if we can refinance your existing loan and save you some money.

What to Expect

Our initial conversation will be around your needs and objectives, future goals and your current financial position. We will ask you to log into our secure online client portal and update your personal information such as employment details, declared living expenses, assets and liabilities. We will also require supporting documents to be uploaded to the portal such as pay slips, tax returns and bank statements.

What Happens

We will review the financial information you have uploaded to the portal and run some preliminary assessments using the lenders debt servicing calculators in order to provide you with a maximum borrowing capacity.

What to Expect

During this stage we may have some questions around your declared living expenses as we go through and verify the amounts declared to the bank statements provided.

What Happens

We will contact you to discuss your maximum borrowing capacity and talk you through the different lenders’ loan products and explain the risks and benefits associated with each.

What to Expect

It is at this stage that we are able to give you a clearer indication on lenders fees, rates and monthly repayment amounts.

What Happens

We will prepare a credit proposal document outlining our recommendations and the related reasoning — how the product suits your needs based on our discussions in step one and three. We also prepare an application to the lender at this stage.

What to Expect

You will need to sign our credit proposal document and the lender’s application forms as well as a privacy acknowledgment and consent form and we will submit the application to the lender as well as provide the required supporting documents (collected at step 1).

What Happens

We will order a valuation on the security property.

What to Expect

Sometimes the valuation may be able to be completed remotely and other times a valuer will contact you to arrange a time to come and inspect your property. They will then prepare a report and send it through to the lender.

What Happens

Your application will need to progress through several stages with the lender prior to a final decision being issued. The first will be verification of ID and ensuring they have received all of the relevant forms and supporting documents. Then an assessor will run credit checks and review all of the supporting documents, check your declared living expenses against the bank statements provided and complete debt servicing calculations. They may issue a “conditional approval” at this stage subject to the valuation report. The lender will issue unconditional approval when the valuation has been received by the bank and the property value has been confirmed, provided the security is acceptable and there is nothing adverse noted on the valuers report.

What to Expect

During the bank’s credit assessment stage the lender will quite often come back and ask questions or request further supporting documents which can cause delays in the approval process. Whilst we always ensure we have collected the required supporting documents we do find that the lenders regularly ask for further supporting documents.

What Happens

Once the lender has issued unconditional approval for finance they will instruct their solicitors to prepare and issue loan contacts, mortgage documents, direct debit requests and authority to complete settlement forms. Usually some of these documents can be issued and signed electronically however the QLD mortgage documents will need to be printed, signed and witnessed by a qualified witness such as a JP, C Dec or solicitor.

What to Expect

We usually like to get you to come into the office so that we can go over the credit contracts with you and witness the mortgage documents for you. We return the loan documents via express post to the lender’s solicitors and they will verify the documents and authorise settlement to occur on behalf of the lender.

What Happens

The lender’s solicitors will arrange for settlement to occur and contact all parties involved to arrange a time suitable for everyone. If you need to make a cash contribution towards a purchase settlement you will need to have either arranged for the funds to be transferred to your conveyancing solicitor’s trust account prior to settlement or have the funds available in an account with the lender and authorised the lender to debit this account for funds to complete at settlement – this is usually an option in the loan documents.

What to Expect

Settlement differs somewhat between a purchase and a refinance, we tend to find the outgoing bank will take a little longer to accept a settlement booking in a refinance where they are effectively losing business. It is important to ensure that a discharge authority form has been signed and sent to your existing bank at least 14 business days prior to settlement of a refinance. We will organise this for you where we can. In some instances you may have to contact the bank directly before they will issue you with a discharge authority to sign. Purchase settlements, where there is a scheduled settlement date noted on the contract, tend to happen a lot quicker than refinance settlements.

What Happens

We will contact you to check that your initial monthly repayment has gone through and ensure you have set up internet banking access and received your bank cards. We will ensure any offset accounts set up are working as intended.

What to Expect

In the norm, repayments all go through smoothly. In the rare exception where there may have been a hiccup we will sort things out for you. You will feel relieved and excited that you have kicked a big life goal and you are on your way to greater financial security.

What Happens

We will review your loan accounts and go direct to the lender to request pricing reviews for any variable rate loans on an ongoing annual basis.

What to Expect

We will send you a debt management review email which notes the progress you have made in paying down your debt and any further interest rate discounts we were able to obtain from the lender.

Courage and commitment are prerequisites for purchasing a home,

the rewards are well worth it.

Keeping you in the Loop

When you engage Guide Financial to secure your home loan for your Sunshine Coast property (or wherever the property is), we’ll be sure to tell you where you are at each step of the above process.

How much does it cost to organise a Home Loan through Guide Financial?

We do not charge a fee* to manage your new home loan application process.

As a mortgage broker we undertake the above steps on your behalf and the lender that ultimately provides your home loan pays us a commission. This is how all lenders work with mortgage brokers with respect to new loans — and all commissions are typically within a similar range.

This in no way influences what home loan packages we present to you. We narrow the options down to the best offerings for YOUR PERSONAL CIRCUMSTANCES, identifying the pros and cons (if any) of each home loan offer. We want to have a long-term relationship with our home loan customers and are genuinely committed to helping you achieve your financial goals as soon as possible.

*With re-financing, should we secure a better rate  with a competitive lender, which is then matched by your current lender, and you decide to stay with your current lender, then a fee will likely apply. This will be discussed with you at the start of the process. 

I found all the people at Guide Financial to be very easy and confident in their field of expertise, which is very assuring when it comes to your hard earned money. Marc and Bradley have come a long way in their business, and this is due to their good business ethic.

Neil

Read more of Brad’s ratings by clients.