How much does Mint Equity charge?
We don’t charge fees for our services as we are remunerated by the lender you choose once the loan reaches settlement.
What is Mint Equity’s credit license number?
Credit Representative Number 460314 is authorised under Australian Credit Licence Number 389328.
How can I make an appointment?
We can arrange appointments 7 days a week at a time that suits you and at your preferred location. You can call us on 1300 00 MINT (1300 006 468).
What locations does Mint Equity service?
Our head office is based on the Central Coast, however were able to service all parts of Australia and for clients living overseas.
Does Mint Equity have to meet with me?
If you’re overseas or not living in Sydney or the Central Coast, we are still able to help.
The digital age has helped the finance industry a lot and with the use of phone, email, Skype and identification verification points (like banks and Australia Post), we’re able to provide our service to those outside of the Central Coast area.
What lenders does Mint Equity have access to?
We have access to over 40 lenders including the big 4 and 2nd tier lenders which provides us with 100’s of products to suit the needs of our clients.
What if I’ve already spoken to my bank about a new home loan?
If you’re not sure if your current bank is providing you with the best home loan option, give us a call. We can assess their offer and let you know if there is anything better out there from other lenders.
How quickly can I get my home loan pre-approved?
Depending on the lender you choose, in some cases we can get pre-approval within 24 hours. Many lenders have an auto approval system that enables us to turn around home loan pre-approvals very quickly. However, we would always recommend allowing up to 5 business days to ensure you have enough time to provide all the documentation we’ll need to submit your loan.
What if I’ve already exchanged contracts and don’t have finance approved?
Whilst it’s not ideal to exchange contracts before getting finance approved, we know some properties are hard to resist. In those cases we are able to prioritise and escalate your application through the lender. We have great relationships with our lender panel and can assist us to get urgent approval.
How much do mortgage brokers charge?
Mortgage brokers provide a valuable service for people searching for a home loan, especially first home buyers. Newcastle mortgage brokers can make the process of getting a loan easier, smoother and, in most cases, cheaper than going directly to a bank. Over 50% of all home loans in Australia are arranged by a mortgage broker.
Most mortgage brokers don’t charge a fee for their service as they are remunerated by the lender you choose once the loan settles. A small percentage of mortgage brokers do charge a fee, but they must provide the client with a Credit Quote at the beginning of the relationship that details what the fee is. Therefore, you need to ask about this upfront while shopping around for the best mortgage broker in Newcastle.
Mortgage brokers are remunerated by the lender the client selects and the commission is separated into a payment made at settlement (called up-front) and a small recurring payment (called trail) paid monthly for the life of the loan. The trail payment is to cover the operational costs of ongoing client management to ensure the mortgage broker continues to service the client and regularly reviews their client’s interest rate to ensure they get the best interest rate.
Is it better to get a mortgage from banks or finance brokers in Newcastle?
When you start searching for mortgage service providers, it’s likely you’ll come across major banks (the big 4), second-tier lenders, regional banks, online lenders and also mortgage brokers.
When shopping for a mortgage loan, it comes down to personal choice. If you feel more comfortable going directly to bank you know of or have an existing relationship with, then that may suit you. However, mortgage loan options have expanded considerably over the last 10 years and there are literally 100’s of mortgage products to choose from. The benefit of using a mortgage broker is that it’s their job to sift through all the lenders and products to find a mortgage loan that suits your requirements and objectives. In some cases, a mortgage broker may have access to discounted interest rates, cash back promotions or faster turnaround times, than going direct to a bank.
Mortgage brokers are also bound by the ‘Best Interests Duty’ legislation, which means they must provide their clients options that are in the client’s best interest. Whereas banks aren’t required to meet the ‘Best Interests Duty’ legislation, as they can only offer their own products and interest rates.
Working with a Newcastle mortgage broker can mean gaining access to various lenders and loan programs. This gives you more chances of finding ones that offer the best rates and charge the lowest fees. If your borrowing situation requires some outside the box thinking, working with a mortgage broker could be more advantageous as well.
However, if your goal is to get the best rates and lower fees, finance brokers in Newcastle can help you more in this area. Remember to check the mortgage broker’s experience to make sure you work only with the best mortgage brokers in Newcastle.
How important is a Newcastle mortgage broker’s experience when choosing a loan?
A mortgage broker’s experience and background are extremely important if you are to find the best home loan.
The best mortgage broker in Newcastle is not only knowledgeable of the market but also highly experienced. This means they are familiar with loan application processes and have a deep understanding of the intricacies involved with the different loans available.
They would also have a bigger network of reputable lenders and can help hasten things along so your loan can get approved sooner rather than later. They can guide you expertly throughout the entire loan application process so everything goes smoothly, more quickly and with minimal stress on your part.
What should I do to find the best mortgage broker in Newcastle?
It’s easy enough to do a Google search for the best mortgage broker in Newcastle or Australia to get a home loan or arrange for refinancing your existing home or investment loan. But how do you know that you’ve finally found the one?
Some of the things you can do to ensure you’re working with a reputable Newcastle mortgage broker include checking online for recommendations, reviews or testimonials about their service or track record. Every mortgage broker needs to display their credit license details on their website and documentation, so always check those details. You should assess their general online presence and see how they respond to comments and inquiries posted on their social media pages.
How long does the mortgage application process usually take?
The duration of loan application processing depends on each lender and application requirements – some work fast, while others take their time. In order to speed up your application process, it’s important to have all of your documentation ready for your loan submission. Providing missing documentation at a later date will slow down the process. Every lender has different turnaround times, with approvals ranging from between 2 days and 6 weeks. Working with a Newcastle mortgage broker will ensure you are aware of approval turnaround times before you apply so you can choose the fastest lender if your loan is time critical.
If you’re looking for the best mortgage broker in Newcastle to assist you, please calculated, processed, approved and released as soon as possible.
Is it more expensive to use a mortgage broker than going direct to a bank?
No. In fact, Mint Equity has access to over 40 different lenders with 100’s of products to ensure clients receive the best mortgage deals. Mortgage brokers also request discounts with the lenders when submitting a home loan, to ensure the lender provides the most competitive interest rate, not just the market rate on the day.
As we aren’t affiliated with any finance or property loan partners, we can guarantee our clients there is no conflict of interest when it comes to finding them the best deal.
No matter whether you’re after a home, business, car or self-managed super fund loan, at Mint Equity, we don’t charge any fees either — our remuneration comes from the lender once the loan is settled.
How much do mortgage brokers charge?
There are two types of mortgage brokers — those that don’t charge their clients a fee and are paid a commission by the lender on settlement and those that charge their clients a “mandate” as well as being paid by the lender on settlement. The amount that mortgage brokers charge will depend on the company.
However, be wary of mortgage brokers in Newcastle and other parts of Australia that charge their clients a “mandate” — they tend to be less experienced and feel the need to charge an upfront fee in case their client’s loan application doesn’t eventuate into a settlement.
As mortgage brokers are remunerated by the lender the client selects, the payment made by the bank to the mortgage broker can be withdrawn if the client discharges the loan within 18 months. In order for mortgage brokers to continue to offer a free service, for short term debts like bridging, a fee may be charged to the client.
Are mortgage brokers better than banks?
While both banks and mortgage brokers can organise a loan for you, in most cases, you’ll end up paying less through a mortgage broker than you would if you went directly through a bank. With experience negotiating loan deals, a good mortgage broker will find you the best loan deal and in some cases a ‘cash back’ promotion. All banks change charge upfront loan fees, ongoing loan fees to maintain the mortgage account and discharge fees at the end of the loan, however these fees can be reduced by selecting a package loan product which may offer a reduction of these fees.
What locations does Mint Equity service?
The location of our clients is not an issue for our team. We consider ourselves the best mortgage broker in Newcastle and will serve our clients whether they’re in Sydney, Brisbane, the Central Coast, interstate or even overseas. Whether we meet up in person, chat over the phone or meet via a video call, our priority is to make the finance process as easy as possible for our clients, no matter where they are.
How quickly can I get a loan approved?
A loan approval process can take anywhere from four hours to three weeks, depending on the lender. But, with extensive experience in the credit process, the team at Mint Equity knows exactly what the lenders are looking for — allowing us to create a loan application that meets their requirements and is approved as quickly as possible. We can also advise on lender turnaround times if a fast home loan approval is required.
How do I get prequalified for a mortgage?
Getting pre-approved for a mortgage usually involves an application, review of your finances by the lender and an outcome. At Mint Equity, finance brokers in Newcastle, we simplify this process for you by taking care of all the administration tasks, including the paperwork and application process — increasing your chances of being pre-approved for a mortgage loan.
What exactly does a mortgage broker do?
Acting as a middle man between the loan borrower and the lender, a mortgage broker in Newcastle (and across the rest of Australia) negotiates the loan on your behalf with banks, credit unions and other credit providers. Mortgage brokers have a depth of knowledge of the specific loan requirements for different lenders, and will give you the best chance to have your loan application approved.
As one of the best mortgage brokers in Newcastle, we start by assessing your financial situation, finding a suitable loan from our network of over 40 lenders and then managing your application process — providing advice with every step of the way. To find out more about how we can help you secure the best deal, contact us today.
