1What if I have a bad credit history?

In the event of a credit default, we have lenders that would be happy to look at your application on a case by case basis. These lenders are more interested in your present financial circumstances and ability to pay back the loan, rather than defaults or negative listings from the past, however please keep in mind they come with higher fees and interest rate. It's hard to establish without looking at your current situation. Let us have a chat with you today.

2What is a repayment holiday?

If you’re ahead of your scheduled repayments, you can apply to put a hold on your repayments for between two and 12 months. Conditions may apply.

3How much deposit do I need?

In most instances you will need a minimum 5% of the purchase price to use as a deposit. Different conditions apply for various loan products and will affect your exposure to mortgage lender’s insurance.

It is important to factor in the additional cost you will need to cover when you are taking out a loan.

4How quickly can I get loan approval?

After the initial meeting, once we assess your financial circumstances we will provide you with a time estimate. This is normally between 4-6 weeks depending on the chosen lender. Where possible, Amrev Finance will expedite the process if there is urgency. Once your loan is formally approved, your lender will send your mortgage documents to you to sign.

5What should I expect at the initial appointment?

During your appointment, your Amrev Finance broker will understand your life and financial goal and will also discuss the below.

  • the features of the loan you require
  • your financing approach
  • your borrowing capacity
  • what the lending market has to offer

At the end of the meeting, you will receive up to three lending options that best suit your needs as discussed. Your Amrev Finance Broker will be available to guide you and ensure you make an informed decision. Call us today!!.

6What are the fees and charges?

There are fees associated with every home loan application which should be factored on top of your deposit. For example, establishment and ongoing administration of your loan account, legal fees, stamp duty and mortgage insurance fees.