Who you are dealing with
About Mortgage Broker Coffs Harbour
We arrange home, investment and specialist lending for people buying, refinancing and building across the Coffs Coast and the hinterland behind it.
What We Actually Do For You
A lender writes its own policy on top of the same regulations everyone else works under. The gap between one lender's policy and the next is where a loan is either approved or declined, and you never get to see it. You apply to your own bank, get one answer, and have no way of telling whether it was the best one available.
Our job is to know where your situation sits in that gap before anything is lodged. We work out what you can borrow at the rate lenders actually assess you on, identify what in your file will cause trouble, choose the lender whose policy reads your circumstances most favourably, and then run the application through to settlement.
We would rather tell you no early than have a decline land on your credit file. If the answer is that you should wait three months, close a credit card or lodge a tax return first, that is what we will tell you.
Best Interests Duty in force since
1 January 2021
From that date we have been legally required to act in your interests, and to put yours ahead of ours where the two conflict. Every recommendation we make has to be defensible against it.
ASIC Regulatory Guide 273, Mortgage brokers: best interests duty
How We Are Paid, And What It Costs You
Nothing. The lender pays us a commission when your loan settles, which is how broking is paid for across the industry. You are not charged for the first conversation, the borrowing power work, the lender comparison or the application.
That arrangement is worth understanding rather than glossing over. It means we are paid only if a loan settles, and it means we are not paid at all when we tell you to stay with your current lender or to use a government scheme instead of a private product. We will still tell you.
Where a fee would ever apply, and it is rare enough that most people never meet one, we put the amount and the reason in writing before you commit to anything. It usually only arises on a complex short-term or commercial structure.
The Rules We Work Under
Credit assistance in Australia is regulated under the National Consumer Credit Protection Act 2009. Two obligations shape how we work with you more than any other.
- Best Interests Duty. Under ASIC's Regulatory Guide 273, in force since 1 January 2021, we have to act in your best interests. Where our interests conflict with yours, yours take priority. In practice that means the recommendation has to be defensible on your circumstances, not on who pays the most.
- Responsible lending. We have to make reasonable inquiries into your situation and verify what you tell us. It is why we ask for statements rather than taking a figure on trust, and it is also what stops a loan being approved that you cannot actually carry.
What We Will Not Do
We arrange credit. We are not financial advisers, accountants or solicitors, and there are questions we will point you elsewhere on rather than answer.
- Whether a property is a good investment, which is your call and your buyer's agent's or valuer's
- Tax treatment of a downsizer contribution, negative gearing or a trust structure, which is your accountant's
- The legal effect of a contract of sale or a reverse mortgage, which is your solicitor's, and on a reverse mortgage that advice is mandatory
- Anything that requires a licence we do not hold
Everything published on this site is general information. It does not take your circumstances into account and it is not credit advice.
Scope
Every Type Of Lending We Arrange in Coffs Harbour
Ten areas, each with its own approval logic and its own lender list. Each page sets out what we do, what the lender will look at and what it costs you to ask.
First Home Buyer
First Home Buyer Loans
What we doRefinancing
Home Loan Refinancing
What we doInvestment Loans
Investment Property Loans
What we doHome Loans
Home Loans
What we doSelf-Employed Home Loans
Self-Employed Home Loans
What we doDownsizing Home Loans
Downsizing and Retiree Home Loans
What we doReverse Mortgage
Reverse Mortgages and Equity Release
What we doConstruction Loans
Construction Loans
What we doRural & Acreage
Rural and Acreage Home Loans
What we doBridging Loans
Bridging Loans
What we doFair questions
Questions About How We Work
How are you paid?
The lender pays us a commission when your loan settles, an upfront amount and, on most loans, a smaller ongoing trail. You are not charged for the conversation, the borrowing power work or the application. If a fee would ever apply to your situation, we tell you the amount in writing before you commit to anything.
Does the commission change which lender you recommend?
It should not, and the law says it must not. Under the Best Interests Duty we have to act in your interests, and where there is a conflict between yours and ours, yours wins. We tell you what we are paid on the loan we recommend, and you can ask us to compare it against any other lender you want to look at.
How many lenders do you compare?
We work across a panel that includes major banks, second-tier lenders and non-bank lenders. Which of them are relevant depends entirely on your file. For an acreage purchase or a short trading history the real list might be three lenders, and knowing which three is the work.
What happens in the first conversation?
Ten to twenty minutes, no documents. We ask what you earn, what you owe, what you have saved and what you are trying to do. From that we work out a borrowing figure calculated at the assessment rate and the lenders that suit your situation.
What do you not do?
We arrange credit. We do not give financial, tax or legal advice, we do not sell insurance or investments, and we will not tell you which property to buy. Where a question belongs with your accountant, your solicitor or a financial adviser, we say so rather than answering it.
Who you deal with
Who You Speak To
One person handles your file from the first conversation through to settlement. The same person who works out your borrowing figure chooses the lender, writes the application and deals with the assessor when a question comes back on it.
We are based in Coffs Harbour and write loans across the coast and the hinterland behind it, so acreage zoning and lender appetite in low-turnover postcodes are things we deal with regularly.
Mortgage brokers based in Coffs Harbour
- What it costs to ask
- Nothing. The lender pays a commission when a loan settles, which is where our income comes from.
Start here
Find Out Where You Stand in Coffs Harbour
Tell us your income, your debts and what you have saved, or just call. We work out a borrowing figure calculated at the assessment rate, the lenders that suit you, and what would need to change if the number is not where you want it.
Mortgage Broker Coffs Harbour · ABN 35 361 529 668