Why choose a mortgage broker?
By choosing Nurture Finance you get access to 38 lenders and are able to access our tools and resources. We make a process that many find daunting, simplified and take great pride in ensuring our clients are satisfied and leave knowing you have the best option for you.
Can I trust a mortgage broker?
Nurture Finance is a credited brokerage which follows rules and regulations set by:
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The National Consumer Credit Act 2009 (NCCP)
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Australian Securities and Investments commission (ASIC)
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Mortgage and Finance Association of Australia (MFAA)
This means you have the protection of government and industry bodies. We want you to feel secure and safe in our dealings with you.
At what point should I engage a broker?
We recommend you contact us as soon as you are ready to start the process, so we can understand your financial position and plan ahead.
Will using a mortgage broker leave a mark on my credit report?
Nurture Finance uses a credit reporting company that does not leave a mark on your credit report, however some lending institutions will require you to use their credit reporting company and this may leave a mark on your credit report.
What does a broker charge?
As a general rule there is no cost for our service, the lender will pay us when your loan is secured. In the rare event professional fees are charged, you will be made aware upfront.
What fees can we expect?
Certain loan products will have particular fees, we will outline these when we provide our lender options. General fees (not withstanding) would include valuation costs, LMI, stamp duty, title registration and transfer fees, conveyancing, building insurance, Loan Mortgage Insurance (LMI) and loan fees.
What is LMI?
LMI stands for Loan Mortgage Insurance, this fee is applied when you borrow over 80% LVR. It is to protect the lender in case the borrower defaults on their loan payments. The 2 main providers for LMI is Genworth & QBE.
What is LVR?
LVR is the loan value ratio, this is how the lender determines what they're willing to lend you against the property value. Each lender sets it own LVR.
How long does the mortgage process take?
The timeframe is dependant upon 3 things:
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The type of finance required
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Your situation and whether or not it is complex
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The Lender's policy and turnaround time
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Generally refinance is 4-6 weeks and a purchase is dependant upon the settlement date (90 - 120 days). In order for us to give you a more accurate timeframe, we would have to assess your circumstances. ​
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Certain cases can be prioritised, contact our team so we can give you a more accurate timeframe and answer any questions you may have.