Tuesday, 31 January 2017

Are mortgage brokers good? The shocking truth!

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Are mortgage brokers good? Yes, some are very good!

Are mortgage brokers good? The answer is YES, there are some very good mortgage brokers! Furthermore, as a general rule going to a broker is better than going direct to the bank. This is true even if you already know which bank you want to use. This is because a mortgage broker will look after you through out the process instead of leaving you up to the bank’s ‘system’. Moreover, with a good mortgage broker, like Oak Laurel, you get ongoing service so that if things change we can help you stay getting a great deal.

Advantages of using a mortgage broker

The advantages of using a mortgage broker include:

More choice of lenders and therefor more choice of loans than visiting a bank.

Bank staff can only recommend the loans that their bank has to offer so may try to convince you to get a product that does not suit you of is not as good as a loan at another bank or lender.

A good broker knows what the banks will not tell you about themselves so you can benefit from their advice.

A good broker will provide better service that what you get going direct to the bank and being pushed through the banks process.

Good brokers can have power in the bank system as the bank will not want to loose other deals by letting down the broker. If you are a single customer they are not as concerned as if they let down a broker who can send them lots of customers.

The loans do not cost any more if you use a mortgage broker.

Mortgage brokers provide a free service most of the time.

The shocking truth about using a mortgage broker vs going direct to the bank or lender!

The shocking truth about using a mortgage broker vs going direct to the bank or lender is…. By going direct to a bank, borrowers are cutting down their options to a small fraction of what they could have using a mortgage broker! Just based on probability, you are probably missing out on the loan that best meets your needs.

Are mortgage brokers good? They are if you use a good one!

So, are mortgage brokers good? Oak Laurel mortgage brokers certainly are!

 

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Are mortgage brokers free?

The post Are mortgage brokers free? appeared first on Oak Laurel.

Are mortgage brokers free? The answer is Yes & No

A common question that people have is “Are mortgage brokers free?” The answer is Yes & No. It depends on the mortgage broker and the situation.

Some mortgage brokers are free, in fact many are free. This is because the lender will pay a commission for the broker settling the loan. However, other specialist mortgage brokers will charge a fee. Furthermore, some mortgage brokers are free in some such as a standard home loan but then charge a fee in other situations, usually if the loan amount is small and/or the loan is complex and time consuming to arrange. Cash back brokers charge a fee but then give you back the commission. The fee structure of these brokers makes the fee similar to the amount of commission that the broker would have received.

Specialist mortgage broker

A specialist mortgage broker or finance broker is someone that has specialist knowledge in a certain area of finance. This could be a specialist development finance broker. They have specialist knowledge in that area, meaning that you are most likely to get a better result than if you just use a run of the mill broker. However, often these mortgage brokers are not free. They can charge an upfront fee that is usually a small % of the loan amount.

 

Small or complex loans

Mortgage brokers are usually paid a commission from the lender for settling the loan, the commission is a % of the loan amount. If the loan is small then the commission amount will also be small and be not worth the time it takes to arrange the loan. A similar situation occurs if arranging the loan will be time consuming and complex. In this case the mortgage broker may charge a fee to compensate them for the time to arrange the loan.

 

Cash back mortgage brokers

Cash back mortgage brokers give you back the commission but then charge you a fee (of a similar amount to the commission) to arrange the loan. Some people like this approach but it really does not make much difference to the client. In fact it can just cloud the fact that they broker is not really doing a great job for the client.

 

Need a good mortgage broker?

A good mortgage broker like Oak Laurel has a great team of mortgage brokers. Usually they don’t charge to arrange your loan but if they need to they will tell you what the cost will be in advance! Contact Oak Laurel today!

 

 

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Thursday, 24 November 2016

Home & investment loans at 85% LVR | No LMI | No BAS | Self-employed | ABN holders

The post Home & investment loans at 85% LVR | No LMI | No BAS | Self-employed | ABN holders appeared first on Oak Laurel.
Home loans and investment loans at 85% Loan to Value Ratio (LVR) | No Lenders Mortgage Insurance (LMI) | No Business Activity Statement (BAS) | Self-employed | Australian Business Number (ABN) holders
Oak Laurel mortgage brokers have a great solution for people who are either Self-employed or ABN holders who cannot provide the full documentation to demonstrate their current income.
Features:
100% offset account available
Categories 1-4 acceptable postcode
Unlimited Cash out up to 80% including business use
Fees can be capitalised for loans up to 85% LVR
Unlimited debt consolidation including paying out ATO debt
Purchase and/or refinance of owner occupied and/or investment property loans
Minor defaults considered (Bad credit)
Australian Business Numer (ABN) registered for at least 12 months
Goods and Services Tax (GST) registered for at least 6 months
Declaration of financial position plus one of the following
– 6 months Business Activity Statement (BAS)
– 6 months Business Bank Statement (BBS)
– Accountants declaration

Contact Oak Laurel to find out more!

Low doc home loans

As a self employed person, where you are unable to qualify for a full doc home loan or your income documentation does not reflect your income it may be better to apply for a low doc home loan. Find out more about low doc home loans here:

Low doc business loans

As business owner or self employed person it can sometimes be difficult get the required documentation to prove your business income? Find out about low doc business loans for when you don't have the required income documentation for a full doc business loan.

Fast business loans

Get access to funds for commercial or business purposes quickly!
Fast business loans
Contact us:

+614 30129662

Oak Laurel – loans made easy!
Oak Laurel Mortgage Broker
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Tuesday, 13 September 2016

Fast equity release for commercial purposes

The post Fast equity release for commercial purposes appeared first on Oak Laurel.

Fast equity release for commercial / business purposes

Do you need fast equity release for commercial / business purposes?
Oak laurel can assist you with same day equity release. Options include:
  • fast access (can be the same day) to a commercial line of credit against equity in property.
  • draw down and up as needed
  • interest capitalised on a short term basis
  • no fixed terms
  • no early repayment fees
  • daily interest calculation
We have options that are available for non-residents.
Access capital from your assets TODAY!
You can access funds quickly against the equity in their your assets with a loan that is like a line of Credit or Business Overdraft facility with without a fixed terms.

A fast equity release line of credit can be useful for:
  • funding a business opportunity that requires immediate funding; or
  • bridging finance where the traditional bank and non-bank lenders have said ‘no’ or take their time in getting back to you.
We have lenders that can lend on the valuation amount of property instead of the purchase price! This is particularly useful for property developers that have purchased land that has increased in value due to a development approval or if a property have been purchased at below market value.
Other issues that can require a quick equity release loan:
• General Business purposes
• Bridging finance for property purchase
• Cash Flow
• ATO Debts
• Commercial Notices to Complete
• Business Pre-Insolvency
• Wind up notices & liquidation
Generally interest rates start at 1% per calendar month but can be more expensive depending on the lender.
The maximum loan size is dependent on the value of your security.
A wide range of property can be used as security including:
Different lenders will take different types of security over the property including:
  • 1st mortgage
  • 2nd Mortgage
  • registered caveat
Contact Oak Laurel to find out more!

Quick business loans

Get access to funds for commercial or business purposes fast!



Contact us:

+614 30129662

Oak Laurel – loans made easy!
Oak Laurel Mortgage Broker
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Saturday, 27 August 2016

Debt consolidation loans | Compare options to consolidate your debts

Debt consolidation loans | Compare options to consolidate your debts

Consolidating your debts? We can help you compare debt consolidation loans!

Debt consolidation loans | Compare options to consolidate your debts

By refinancing your home loan to consolidate debts with Oak Laurel you could:

Consolidate credit card debt and personal loans
Refinance to a better home loan with a lower interest rate and useful features
Get cash out to renovate your home or invest in another property etc...

The idea of debt consolidation is simple. It means bringing all of your personal debts together or consolidating your debts. Having multiple debts, particularly if they have high interest rates can be stressful. If you have equity in your home you may be able to refinance and consolidate all your debts into one payment at home loan rates.

With a debt consolidation loan, our customers can enjoy flexible payment options, simplified organisation and management of finances, and a personal peace of mind. Whether you are looking to consolidate credit cards, another personal loan, other debts or a combination.

Contact Oak Laurel about a debt consolidation loan.

An Oak Laurel mortgage broker will go through your situation with you to ascertain the best way forward.

Call us:

+61 430 129 662

OAK LAUREL

Oak Laurel Mortgage Broker

Benefit from our experience

Enquire about a your debt consolidation loan options!

Consolidate Your Debt

Many people are unaware that they can consolidate their debts. You can consolidate your debts when you refinance your home loan? Chances are that you will get a better rate on your home loan too! By consolidating your debts you may be able to reduce your overall interest rate reduce your total debt payments. This could free up your cash to pay down your loans or spend on other things, like a holiday.

At Oak Laurel, we can help you to find debt consolidation and home loan refinance options to meet your needs. We can go through your current commitments and provide you with recommendations about consolidating your debts.

Benefits of Refinancing Your Home Loan

There can be many benefits from refinancing your home loan. Not only could you consolidate high interest debts to lower home loan rates, you could also get a lower home loan interest rate than you are currently paying.

One of the best benefits of consolidating higher cost debts into your home loan is that you will have lower repayments.

Typically, home loan interest rates are much lower than the types of interest rates you’re charged on personal loans or credit cards. So by combining these debts into your mortgage, you will be able to reduce the amount you have to repay each month and you only have one payment to make instead of several.

Bad credit debt consolidation loan

A bad credit debt consolidation loan can be an option for people that are struggling to meet their high interest debts (such as credit card debty or personal loan debt) and may have missed a few payments but own a home. In this can Oak Laurel mortgage brokers may be able to refinance your high interest loans into your lower interest home loan despite having some credit file issues.

Important information before consolidating your debts

While consolidating debts can have enormous benefits when done correctly, if done poorly can end up costing you more.

There can be fees and charges associated with with refinancing the debts that you want to consolidate.  For example if you have a car loan or personal loan there may be early repayment fees.

Some things to consider when you are consolidating and refinancing debts

The type of home loan that you have fixed vs variable interest rate
Fees and charges of your loans

Do you have equity in your home?

Are you ahead on your payments?

Do you like your existing lender?

Consolidating debt is often an easy way to reduce your monthly payments. Consolidate your debt into your home loan by refinancing and you could save yourself hundreds of dollars per month.

Get Approved Today

If you own property; are struggling with multiple debts and want to discover your debt consolidation loan options then give us a call.

Oak Laurel Mortgage Brokers –  Debt consolidation loans made easy!

Oak Laurel Mortgage Brokers

Sunday, 21 August 2016

Why use a quick business loan?

The post Why use a quick business loan? appeared first on Oak Laurel.

Why are quick business loans used by some Australian business?

There are many reasons to use a quick business loan. The only real limit is having a registered business (ABN) and your opportunities or imagination. Business opportunities can occur when you least expect them, these are the opportunities that it is difficult to plan for. If you don’t have cash on hand or access to a quick business loan then these business opportunities can pass you by.  However, Oak Laurel can assist you to get a business loan quickly so that you CAN take advantage of that opportunity before it disappears.
The banks and non-bank lenders are often too slow in assessing your application and releasing the funds for them to enable to you to take advantage of time sensitive business opportunities. This is where Oak Laurel can help. We have access to a range of lenders that can assist you quickly.
Our lender’s loan facilities can be used to assist clients in:
  • taking up a commercial opportunity that requires immediate funding; or
  • providing a bridging facility where traditional bank and non-bank lenders say ‘no’.
Our lenders can lend on the valuation figure of property instead of the purchase price! For example if you are a property developer and you have purchases land that has increased in value due to the issue of a development approval.
Other issues that can require a quick business loan:
• ATO Debts
• Commercial Notices to Complete
• Business Pre Insolvency
• Wind up notices & liquidation
• General Business purposes
• Cash Flow
• Bridging finance for property purchase
Interest rates vary between lenders but generally start at 1% per month but can be more expensive.
The maximum loan size is dependent on the value of your security. Generally, the maximum is $20 million but can be more on a case by case basis.
A wide range of property can be used as security including:
  • Commercial real estate
  • Residential real estate
  • Rural property
  • Equipment
  • Invoices / debtor credit
  • Specialised Security
  • Rent Roll
  • Variety of cross collateralised security options
Different lenders will take different security over the property including
  • 1st mortgage
  • 2nd Mortgage
  • registered caveat
Contact Oak Laurel to find out more!

Quick business loan

Find out more about quick business loan options that we can assist you with!

Commercial construction finance

Need to finance your property development?

Contact us:

+614 30129662

Oak Laurel – loans made easy!
Oak Laurel Mortgage Broker
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The population of Melbourne in 2016

The post The population of Melbourne in 2016 appeared first on Oak Laurel.

Melbourne population in 2016

Population of Melbourne in 2016. According to the Australian Bureau of Statistics (ABS), the population of Greater Melbourne, reached a population of 4.5 million in 2015. Melbourne had both the largest and fastest population increase of all Australian capital cities in 2014-15, according to data released today by the Australian Bureau of Statistics (ABS).
Melbourne’s population increased by 91,600 in 2014-15, an average of 1,760 people / week.  The growth rate of Melbourne was 2.1 per cent, slightly down from 2.2 per cent last year. However it was still the fastest population growth in Australia.
Seven out of the Australia’s top ten growth areas were in Greater Melbourne.
Cranbourne East in Melbourne’s outer south-east increased by 4,600 people in 2014-15, the largest growth of any area in Australia. The outer northern areas of South Morang (up by 4,200 people) and Epping (3,300) came in second and third respectively, whilst Point Cook (3,200) in Melbourne’s outer west ranked fourth nationally.
Cranbourne East also had the fastest growth in the state (and the second-fastest nationally), increasing by 32 per cent in 2014-15.
In addition to the growth areas on the outer suburban fringes, large population increases were also seen in the inner-city area of Melbourne (up by 2,600 people) and nearby Southbank (1,300). Docklands was the fastest-growing inner city area, up 8.3 per cent in 2014-15.
Outside of Melbourne, areas with the largest growth in 2014-15 were Grovedale (up by 1000 people) in Geelong and Ocean Grove – Barwon Heads (700) on the Surf Coast.


Mortgage broker in Melbourne

Are you looking to borrow to invest in the Melbourne property market? Contact one of our Melbourne based mortgage brokers to discuss your home loan or investment property loan needs?
Contact us:

+614 30129662

Oak Laurel – loans made easy!
Oak Laurel Mortgage Broker
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