Question 1

Do you charge for your mortgage broking services?

Accepted Answer

At The Property Education Company, we do not usually charge clients for assisting with loans. We are paid commission by the lender you choose. When you take out a loan via a mortgage broker, it does not cost you any more, and sometimes costs less, than going directly to a bank. Brokers get paid commission by banks for bringing new business and continuing to look after clients for the bank.

Question 2

How is my borrowing capacity determined?

Accepted Answer

Your borrowing capacity is determined by two key factors that lenders review: 1) Your income and how much you can afford in loan repayments, and 2) Your security - how much cash or equity from another property you have to put towards the deal. Both factors must be comprehensively assessed by a mortgage broking expert so you can be sure before you buy.

Question 3

Do you work with clients outside of Melbourne?

Accepted Answer

Yes, we currently work with clients all over Australia from Darwin to Townsville, Sydney, and all over Victoria! We can meet in person at our Brighton office or via Zoom video call. We happily meet out of hours on weekends or in the evenings, but always in our offices for your safety and ours.

Question 4

How many lenders are you accredited with?

Accepted Answer

We are accredited to access over 40 lenders. These include major banks like ANZ, Commonwealth Bank (CBA), NAB, Westpac, Bank of Melbourne, BankWest, ING, and Macquarie, as well as many second-tier lenders and credit unions. This gives us the ability to compare a wide range of loan products to find the best option for your specific needs.

Question 5

What is your loan approval rate?

Accepted Answer

The Property Education Company has a 98% home loan approval rate, which is significantly higher than the industry average. This success rate comes from our thorough preparation, expert knowledge of lender requirements, and comprehensive support throughout the entire application process.

Question 6

What makes The Property Education Company different from other mortgage brokers?

Accepted Answer

We focus on education and building long-term relationships with our clients. Unlike many brokers who only help when you're ready to buy, we will meet with you early in your journey to help you prepare, save your deposit, and understand the lending process. We provide regular check-ins, annual loan reviews to ensure competitive rates, and ongoing support throughout your property ownership journey. We also make the process fun and stress-free with a personal, caring approach.

Question 7

How long does the home loan application process take?

Accepted Answer

The timeline varies depending on your individual circumstances and the lender, but our streamlined three-step process makes it as efficient as possible: 1) Book a home loan strategy call, 2) Let us review your documents, and 3) Choose your best loan option and submit. We work to get you pre-approved as quickly as possible, often within days, and then manage the full application through to settlement.

Question 8

Can you help with investment property loans as well as home loans?

Accepted Answer

Absolutely! We specialize in both owner-occupier home loans and investment property finance. Our founder Louise Lucas has been mentoring property investors since 2007 and brings over 35 years of finance experience. We provide education on investment strategies, negative gearing, portfolio building, and connect you with the right finance solutions for your investment goals.

Question 9

Do you offer refinancing services?

Accepted Answer

Yes, refinancing is one of our core services. We conduct annual loan reviews for our clients to ensure they always have competitive rates. We negotiate with your current lender to improve your rate, or help you refinance to a better lender if needed. Many of our clients have been with us for 10-15 years because we continuously look after their interests and help them save money over the long term.

Question 10

What education and qualifications does your team have?

Accepted Answer

Our founder and CEO Louise Lucas has an MBA from Monash University, a Graduate Diploma of Tertiary Education from The University of Melbourne, and a Diploma of Financial Services (Finance/Mortgage Broking). She has over 35 years of experience in finance and is an MFAA Accredited Mentor. Louise was also a member of the Victorian State Advisory Committee for the Mortgage and Finance Association of Australia (MFAA) until 2015. Our team holds Australian Credit Representative licenses and is fully accredited under Australian Credit License 389328.

Question 11

What awards has The Property Education Company won?

Accepted Answer

We are a multi-award-winning mortgage broking firm. Our recent awards include: 2024 Australian Achiever Award National Winner for Finance & Insurance Services, 2022 Connective Excellence Award - Empowerment Award Victoria, 2019 Connective Excellence Award Winner, 2018 Australian Achiever Award, 2017 Better Business Award Winner for Best Customer Service, and 2016 MFAA National Residential Mortgage Broker of the Year. These awards recognize our commitment to exceptional customer service and client outcomes.

Question 12

What is B1G1 and how does it relate to my home loan?

Accepted Answer

B1G1 (Business for Good) is a global giving initiative that we partner with to create positive social impact. Every time we help you with your financial goals and you settle a home loan, we make a difference by giving back in meaningful ways - supporting educational causes around the world. This means your home loan not only changes your life but also helps others through our charitable giving program.

Question 13

Can you help first home buyers who don't yet meet lending criteria?

Accepted Answer

Yes! Unlike many brokers who won't see clients until they're loan-ready, we will always meet with you and talk through your situation. We help you understand what you need to prepare for a loan, assist you with saving your deposit, provide education on the process, and give you a clear roadmap to home ownership. We often 'hold clients' hands' for months or even years while they work towards their property goals, with regular check-ins to keep you on track.

Question 14

Do you provide calculators to help me understand my borrowing capacity?

Accepted Answer

Yes, we offer several free online calculators on our website including: Borrowing Capacity Calculator, Refinance Feasibility Calculator, Loan Repayment Calculator, Stamp Duty Calculator, and Purchasing Power Calculator. These tools help you understand your financial position before you meet with us. We also offer a First Home Buyer ScoreApp Quiz to assess your readiness for purchasing your first home.

Question 15

What types of loans can you help with?

Accepted Answer

We can assist with a wide range of home loans including: first home buyer loans, investment property loans, refinancing, home loan pre-approvals, construction loans, bridging finance, and personal loans. We specialize in both simple and complex lending situations, including complex business structures, self-employed borrowers, and multi-property portfolios.

Case Study: First Home Buyers Share Their Stories on Their Recent Purchases

Case Study: Journey of a Long Term Property Investor to Mortgage Broker and Mentor

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