Frequently Asked Questions

What does a mortgage broker do?

Mortgage brokers are professionals who work on your behalf, to help you navigate the finance application process. They help you determine:

your borrowing needs
how much you can borrow, and
which lender is the most suitable for your circumstances.

Now nearly 70% of all loans are written through mortgage brokers as they better serve your needs.

Here’s why…

If you go directly to the bank, you will only be offered the loan options available through that one lender. As your mortgage broker, we work across many lenders (over 40) and all of their loan products because our sole purpose is to find the right loan for your needs.

Do you charge fees for home and investment loans?

Here at The Property Education Company, we do not usually charge for assisting you with any loans. However, on occasion, we might ask you to pay a fee in exchange for our assistance with loans for which the lender does not pay us for our efforts.

It is worth noting that when you take out a loan via a Mortgage Broker, it does not cost you any more, and sometimes less, than going to a bank directly. Brokers get paid commission by the bank for bringing new business to them and continuing to look after clients for the bank.

How much can I borrow?

Your borrowing capacity is determined by two factors that lenders review:

1. Your servicing capacity and

2. Your security or how much cash or equity from another property do you have to put towards the deal.

Both must be comprehensively assessed by a mortgage broking expert so you can be sure before you buy. That’s what we do best. Get started here: https://propertyed.com.au/whats-my-borrowing-capacity

Note: Most “Pre-Approvals” are not worth the paper they are written on and always read the fine print.

I am not in your area, can we still work together?

Yes, we currently work with clients all over Australia from Darwin to Townsville, Sydney, and all over Victoria! We can meet in person or on Zoom. Just contact us to arrange a time. Also, we happily meet out of hours on weekends or in the evenings but always in our offices.

Which lenders do you deal with?

We are accredited to access over 40 lenders. These include ANZ, CBA, NAB, Westpac, Bank of Melbourne, BankWest, ING, Macquarie, and many other second-tier lenders and credit unions.

Terms & Conditions

1. The competition starts on October 15th 2024 and ends on December 31st, 2024. Entries received after this period will not be considered.

2. Winner announcement date: within 30 days after the competition close date

3. Your new loan must be settled prior to 31st December 2024 after which the winner will be announced.

4. Your loan amount must exceed $250,000 to obtain the mortgage payment rebate.

5. Limit of 1 rebate in total to a value of two thousand dollars (which will be paid into the savings/loan account) can be won by one applicant, whether the loan is in one or more names.

6. Decision by the judges on the best single entry winner is final and no correspondence will be entered into.

7. You may enter as many times as you like as this is a skill based competition.

8. In the event that a winner cannot be contacted within 30 days, a new winner will be selected.

9. The mortgage broker reserves the right to modify these terms at any time without prior notice. Any changes will be communicated through official channels.