Your borrowing capacity depends on a range of factors including your income, living expenses, existing debts, savings, employment type and credit history. Every lender assesses applications differently, which is why it’s important to get professional guidance.
A mortgage broker may offer you a variety of finance options, dependent upon your personal financial situation. As a mortgage broker, we help you with your financial strategy; we help you to select a loan product that suits your needs and we manage the process through to settlement.
Depending on your situation, we may advise (or you may want to) take out a principal and interest home loan, where you make regular payments against the principal (the amount borrowed) as well as paying interest. This type of loan is designed to be repaid in full over the life of the loan, which is often 25 or 30 years.
As the name suggests, your repayment amount will only cover the interest on this loan. The principal amount you borrowed will not reduce unless you choose to make extra repayments. Paying interest only may cost you more over the term of the loan because you’re paying interest on a principal that doesn’t reduce.
Interest only home loans are not designed for every type of borrower. Interest only home loans may not be a good idea for standard home buyers looking to pay less on their monthly repayments, because the less you repay of the loan amount (the principal), the more you end up paying in interest on your loan over the years.
Interest only loans however, can be useful for property investors who can claim the interest as a tax deduction; first home buyers trying to make their first year of loan payments more affordable after the initial upfront expenses of buying, or buyers who only plan on holding onto the property for a few years before selling it.
Gaining a pre-approval for your finance is a great idea, to give you peace of mind when you come across the property that you really want to purchase. You can bid or put in an offer with confidence.
A formal pre-approval works the same way as a formal loan application, except without the security details. Once we decide on the best loan option, we then produce the paperwork for pre-approval. The lender assesses income, expenditure, assets and liabilities to confirm how much you can borrow.
As soon as the pre-approval is confirmed we advise you so you can begin property hunting seriously and with confidence.
Ha! No, no secret or magic way to do this. The only way we believe, to financial success, is to make a start. It doesn’t matter if you have a plan that is incomplete or not perfect. There are proven techniques that can make you wealthy over time – you just need to apply these methods in a disciplined way and stick to a plan over the long term.
The not-so-secret methods are simple:
- To spend less than you earn.
- To drive down personal debt as quickly as possible.
- To save regularly.
- To invest in assets that will produce tax-effective income as well as growth.
- To borrow money to boost your investments.
Your borrowing capacity depends on a range of factors including your income, living expenses, existing debts, savings, employment type and credit history. Every lender assesses applications differently, which is why it’s important to get professional guidance.
At TSC Mortgage Brokers, we can review your situation and provide a realistic borrowing estimate before you apply.
Absolutely. Buying your first home can feel overwhelming, but we’re here to guide you through every step of the process. We help first home buyers understand deposits, loan options, grants, guarantees, repayments and the buying process so you can move forward with confidence and clarity.
Not always. While a 20% deposit can help you avoid Lenders Mortgage Insurance (LMI), there are lenders and government initiatives that may allow you to purchase with a smaller deposit depending on your circumstances.
We can explain your options and help you understand what may work best for your situation.
Refinancing is the process of replacing your current loan with a new one, usually to improve your financial position. This may help reduce repayments, secure a better interest rate, consolidate debt, access equity or gain loan features better suited to your needs and lifestyle.
We recommend reviewing your home loan every 12–24 months, or whenever your financial circumstances change. Interest rates, lender policies and your own goals can change over time, and a regular review can help ensure you’re still getting value from your loan.
Yes. We assist clients with finance for investment properties including new purchases, refinancing existing loans and accessing equity to grow their portfolio. We can also help structure lending to suit your investment strategy and long-term financial goals.
The documents required can vary depending on your situation and the lender, but generally include identification, payslips, bank statements, tax returns and details of your assets and liabilities. We’ll provide a clear checklist and guide you through the process to make it as simple as possible.
Yes. Self-employed borrowers can still access a range of loan options, although lenders may require additional documentation such as tax returns, BAS statements or business financials. We work with lenders who understand self-employed income structures and can help find suitable solutions.
Yes. If you have personal loans, credit cards or multiple repayments causing financial pressure, we can assess your current situation and discuss options that may help simplify your finances. This could include debt consolidation or restructuring your lending to improve cash flow.
Loan pre-approval is an indication from a lender of how much you may be able to borrow before you purchase a property. It can help you shop with confidence, understand your budget and move more quickly when you find the right property.
Approval timeframes can vary depending on the lender, the type of loan and the complexity of the application. Some approvals may take only a few days, while others can take several weeks. We work closely with lenders to help keep the process moving smoothly and efficiently.
Yes. TSC Mortgage Brokers can assist with a wide range of business and commercial finance solutions including commercial property loans, business lending, equipment finance, vehicle finance and cash flow support. We take the time to understand your business goals and tailor solutions accordingly.
Equity is the difference between your property’s current value and the amount you still owe on your loan. Many clients use equity to renovate, invest, purchase another property or consolidate debt. We can help you understand how much usable equity you may have available.
Yes. We can arrange finance for personal and business purposes including cars, utes, trucks, trailers, machinery and equipment. We compare options from a range of lenders to help find competitive solutions suited to your needs and budget.
Submitting multiple loan applications in a short period can impact your credit score, which is why it’s important to seek advice before applying. We help guide you through the process strategically and work to identify suitable options before applications are lodged.
A fixed rate remains the same for a set period, providing certainty around repayments, while a variable rate can move up or down depending on market conditions. Both options have advantages depending on your goals, and we can help you understand which may suit your situation best.
At TSC Mortgage Brokers, we pride ourselves on doing finance differently. Our focus is on saving clients time, money and stress by comparing lenders, simplifying the process and providing personalised support from start to finish. We believe in building long-term relationships and helping our clients achieve greater financial freedom with the right support and solutions.
