Loan Options with SGS Mortgages: Finding the Right Loan for You
At SGS Mortgages, we understand that every client’s financial situation is unique. Whether you’re a first-time homebuyer, an investor, or looking to refinance, Our expert mortgage brokers Melbourne are here to provide tailored advice and guide you through the process of finding the right loan for your needs.
With access to a wide range of lenders and home loan options Melbourne, we can help you find a solution that best suits your goals and circumstances. Our team at SGS Mortgages is committed to making the home loan process smooth, transparent, and stress-free.
What we offer
Here are the loan options we offer to help you take the next step in your property journey:
1. Home Loans
Whether you’re buying your first home, upgrading to a new property, or purchasing your dream home, we can help you navigate the variety of home loan options available. Our brokers take the time to understand your needs and find the most competitive rates and suitable loan features to match your lifestyle.
Key Features:
- Fixed or variable rates
- Flexible repayment options
- Offset accounts and redraw facilities
- First homebuyer assistance programs
- Low deposit options
We’ll walk you through the process and ensure you understand every option, so you can make an informed decision with confidence.
2. Investment Loans
Investing in property can be one of the most effective ways to grow your wealth, and we’re here to make the financing part easier. SGS Mortgages offers a range of investment loan options, whether you’re looking to purchase residential, commercial, or rental properties. Our team will help you structure your loan in a way that suits your investment strategy and financial goals.
Key Features:
- Competitive interest rates for property investors
- Interest-only loan options
- Flexible loan terms and repayment options
- Loan structuring advice to maximize tax benefits
- Lenders with investor-friendly policies
Our brokers will assist you in selecting the right loan to ensure your property investment grows in line with your future financial objectives.
3. Refinancing Loans
If you already have a home loan but are looking to reduce your monthly repayments, access equity, or simply find a better deal, SGS Mortgages can assist with refinancing your loan. We’ll help you evaluate your current loan and find a more suitable solution that fits your financial needs.
Key Features:
- Consolidate debt and access home equity
- Switch to a lower interest rate
- Shorten or extend your loan term
- No-cost refinancing options in some cases
- Tailored advice to achieve your financial goals
Our expert brokers will guide you through the refinancing process and ensure you understand all the benefits and costs, so you can make the best decision for your financial future.
4. SMSF Loans
For those looking to build wealth through property within a Self-Managed Superannuation Fund (SMSF), SGS Mortgages offers specialized SMSF loan solutions. These loans allow you to use your superannuation to invest in property, providing you with the potential for long-term capital growth and tax advantages.
Key Features:
- Loan options for purchasing residential and commercial property within your SMSF
- Access to competitive rates from leading lenders
- Expert advice on structuring your loan for compliance and optimal tax benefits
- Ongoing support throughout the investment process
Our team will help you structure your SMSF loan in a way that aligns with your retirement goals, ensuring a secure financial future through strategic property investment.
5. Low Deposit Loans
If you’re struggling to save for a large deposit but want to enter the property market, SGS Mortgages offers low deposit home loan options that require as little as 5% or 10% deposit. These loans are designed for buyers who may not have the traditional 20% deposit but still want to secure their first home or investment property.
Key Features:
- Loans with as little as 5% deposit
- Flexible lending criteria for eligible buyers
- Access to Lenders Mortgage Insurance (LMI) options
- Expert advice on structuring your loan and avoiding pitfalls
Our brokers will help you explore the best low deposit loan options and explain any costs involved so you can make the best decision for your future.
6. Commercial Loans
For business owners or those looking to invest in commercial property, SGS Mortgages offers tailored commercial loan products. Whether you’re purchasing office space, retail premises, or industrial property, we can help you secure the financing you need to grow your business.
Key Features:
- Competitive rates on commercial property
- Loan terms tailored to your business needs
- Access to lenders with flexible commercial policies
- Expert advice on managing your commercial property investment
We’ll guide you through the process, from loan application to settlement, and provide advice on the best loan structure to suit your business objectives.
7. Personal Loans
If you need funds for personal expenses such as home renovations, debt consolidation, or a major purchase, SGS Mortgages can help you find the right personal loan. We work with lenders who offer competitive rates and flexible terms to meet your needs.
Key Features:
- Unsecured personal loan options
- Competitive interest rates
- Flexible repayment terms
- Fast approval process
Our brokers will help you compare personal loan options and ensure that you select the loan that best fits your financial situation.
Why Choose SGS Mortgages?
At SGS Mortgages, our mission is simple: to provide personalized, expert advice to help you navigate the complex world of home loans and finance. We are committed to helping you find the right loan option that aligns with your goals, whether that’s purchasing a home, refinancing, or investing for the future.
We offer:
- Access to a wide range of loan products from top lenders
- Tailored advice and personalized service
- Competitive rates and flexible loan structures
- Ongoing support throughout the loan process and beyond
Get in touch with SGS Mortgages today to explore your loan options and take the first step toward achieving your property goals. Start your journey toward securing the right loan today. Get in touch with our expert brokers to discuss your options and find a solution that’s right for you.
Get in touch with SGS Mortgages today
to explore your loan options and take the first step toward achieving your property goals. Start your journey toward securing the right loan today. Get in touch with our expert brokers to discuss your options and find a solution that’s right for you.
Loan Process
Loan Process at SGS Mortgages: Finding the Right Loan for You
At SGS Mortgages, we understand that the process of applying for a home loan or investment loan can seem overwhelming. With new home loan products emerging regularly and a range of borrowing options available, it’s important to choose the right loan to suit your individual needs. The way you borrow money impacts not only the amount you can borrow but also the types of loans you can access.
Our expert mortgage consultants are here to guide you through every step of the loan process, helping you navigate the vast range of loan products available, and ensuring that you choose the right option for your circumstances. We take the time to understand your financial goals and tailor a solution that works for you. At SGS Mortgages, we take the time to understand your unique needs and tailor a loan solution that fits your financial goals. With access to a wide range of lenders and loan products, we’ll help you find the most competitive rates and the best loan structure for your situation.
Our Loan Process Includes:
- Personalized advice based on your needs
- Help with choosing the right loan product
- Expert assistance with your application and pre-approval
- Support throughout the entire loan process
- Access to specialized loan options, including guarantor and low-doc loans
Contact SGS Mortgages Today
Ready to explore your loan options? Our team is here to guide you every step of the way. Get in touch with us today to discuss how we can help you secure the right loan for your property goals.
Step 1
Initial Interview
This is the first meeting with the
client to seek their goals, requirements and purpose for the loan. From the information provided by the clients, Addon Brokers will discuss the options with the client and find a suitable lender to meet their needs.
Step 2
Estimated Timeframe or lodgement
Your loan application will be lodged with the lender within 24 hours of receiving of ALL required supporting documents and application forms as requested.
Step 3
Conditional Approval
Estimated Timeframe 2-3 days.
Since we lodge on your behalf, the lender will send Addon Brokers a conditional approval letter once it has been conditionally approved. Upon conditional approval, property valuation(s) will be order by the lender (if required).
Step 4
Valuation Reports
Estimated Timeframe 3 days.
Valuation report(s) will be received by the lender within 3 davs of request. (subject to property access).
Step 5
Unconditional (full) Approval
Estimated Timeframe 2 days.
We will receive unconditional
approval from the lender within 2 days from receipt of their satisfactory valuations). we will then contact you to confirm the unconditional approval.
Step 6
Mortgage Documents
Estimated Timeframe 5-10 days.
The lender will send a copy of the mortgage documents to you or the nominated party within 5 days of unconditional approval. You will receive instructions on how to handle
the documents.
Step 7
Loan Settlement
Estimated Timeframe 2-10 days.
Purchasing a property Between 2-3 days after you have returned vour mortgage documents your solicitor/ conveyancer will contact the lender to book settlement. Refinancing Between 2-3 days after you have returned your mortgage documents the lender will liaise directly with your existing lender (if different) to arrange our property refinance.
Step 8
Congratulations
Settlement has been booked and your loan Is in piace.
*Please note, time frames are subject to variation based upon the lender selected. the valuer commissioned and/or the complexity of the loan application.
- Document Check List
- Loan Types
Required Documents for Home Loan Application
To help expedite the processing and approval of your home loan, it’s important to bring all necessary documents to your meeting with your mortgage consultant. The list below provides a general checklist of required documents. Some documents may not be applicable to you, and your mortgage consultant will confirm which documents are needed based on your specific home loan type. Unless otherwise specified, copies of documents are acceptable.
Identification Documents
A 100-point identification check is required for all types of home loans. You can use a combination of the following documents to reach the required points. Please refer to the table below:
| Identity Document | Points |
|---|---|
| Current Passport | 70 |
| Birth Certificate | 70 |
| Citizenship Certificate | 70 |
| Driver’s Licence | 40 |
| Rates Notice | 35 |
| Medicare Card | 25 |
Other documents (e.g., Credit cards, ATM/Debit cards, Pensioner Concession card, Health Care card, Utility bills, Tertiary Student ID, Letter from Employer) can also be used to build up 100 points. Consult with your mortgage consultant to determine the points for each document.
Additional Documents for Refinancing
If you’re refinancing, please provide the following:
- Documentation on your existing loan(s), including the loan commencement date, loan term, and any financial penalties applicable if you exit the loan early.
- The most recent Council Rates Notice and Building Insurance Policy for the property or properties being offered as security.
- Credit Cards:
- If you have outstanding credit card debt, provide statements for the last six months.
- If your credit card is paid off, provide the most recent statement.
Additional Documents for Borrowers Seeking a Construction Loan
If you’re refinancing, please provide the following:
- A copy of the builder’s fixed-price tender, including all specifications.
- A copy of Council-approved plans.
Additional Documents if You Already Own a Home
If you already own a home, please provide:
- Statements for the last six months for any existing home loans or personal loans.
- The most recent credit card statement.
- A copy of the Contract of Sale for the property you are purchasing.
- Statements for the last six months showing your savings/investment history. This could include share certificates, savings account statements, term deposit statements, etc.
- If using other funds for the purchase, evidence of where the funds are held.
- If you are receiving financial assistance from someone else (e.g., a family member or friend), you will need a Statutory Declaration from the person providing the funds.
Documents Based on Income Status
If You Are Employed (Salary or Wage Earners)
Please provide the two most recent payslips from your employer (dated within the last 60 days). Ideally, these should include:
- Employer and employee’s name
- Year-to-date income figures
- Other income details
Alternatively, you may provide one of the following:
- The most recent Group Certificate (PAYG Payment Summary or Tax Return)
- Current employment contract detailing your salary and income
- A letter from your employer confirming your employment and income details.
If You Are Self-Employed
For self-employed borrowers, please provide the following documents:
- The two most recent years’ Personal/Business Income Tax Returns and Notice of Assessment, no older than 24 months.
If your Tax Returns and Notice of Assessments are older than 24 months, you must also provide one of the following:
- Internal management accounts supported by Business Activity Statements (BAS) for the past 12 consecutive months, verified by the Australian Taxation Office (ATO), or
- Draft or final financial statements prepared by your accountant.
If You Are Applying for a Low Documentation Loan
For Low Documentation Loans, you must:
- Have been registered for GST and working in the same industry for at least 12 months.
- Provide your ABN and/or Certificate of Incorporation and your BAS for the past 12 consecutive months, verified by the Australian Taxation Office (ATO).
- Sign a Low Doc Declaration (provided by the bank).
If You Receive Rental Income
Please provide one of the following:
- A letter from the Managing/Real Estate Agent confirming expected rental income.
- The Lease Agreement.
- Proof of rental income from your bank statements or financial statements (for self-employed applicants or companies).
If You Receive Government Income (e.g., Centrelink or Veteran Affairs) Provide your most recent government advice letter, which shows your income/benefit. The letter should be dated within the last 90 days.
Conclusion
Having all the necessary documents ready will help streamline the loan application process. Our team at SGS Mortgages is here to guide you every step of the way. If you’re unsure about any specific documents or have any questions, please don’t hesitate to get in touch with your mortgage consultant. We’ll ensure that you have everything you need for a smooth and efficient loan application process.
Loan Options at SGS Mortgages: Find the Right Loan for You
There are various ways to borrow money, and the choice you make can significantly impact both how much you can borrow and the types of loans available to you. With new home loan products emerging rapidly in the market, it can be challenging to navigate the options. At SGS Mortgages, our experienced mortgage consultants are here to help you find the right loan and professionally package it to suit your unique needs.
While most people borrow money individually or with a partner, there are other flexible borrowing options that can provide you with the freedom to purchase the property you want. These include Property Share (purchasing with friends while keeping finances separate), Guarantor Support, and Low Documentation Loans for self-employed individuals.
Below is an overview of the most common loan types available:
Conclusion
At SGS Mortgages, we understand that every borrower’s situation is unique, which is why we offer a wide range of home loan products tailored to meet your needs. Whether you’re purchasing your first home, refinancing, or investing in property, we’ll help you find the right loan to achieve your financial goals.
Contact us today to discuss your options and find the best loan for you.
FAQS
1. How Do I Choose the Right Loan for Me?
With new home loan products constantly emerging in the market, it can be difficult to know which one is best for you. Our Mortgage Consultants at PJ Home Loans can help you identify the loan that suits your needs and circumstances and guide you through the process with expert advice and tailored solutions.
2. What Are the Costs/Fees Involved in Switching Mortgages?
Penalty fees may apply if you pay off your current mortgage early, depending on the terms of your existing loan. For example, you may incur an exit fee if you’re ending a fixed-rate home loan. However, these fees could be offset by potential savings on your new mortgage payments when you refinance. Our mortgage consultants can help you understand the fees and costs involved in refinancing your existing mortgage.
3. How Will Refinancing Benefit Me?
Refinancing allows you to adjust your home loan to better suit your current circumstances. Common reasons to refinance your home loan, investment loan, or commercial mortgage include:
Home renovations, such as refurbishing, remodelling, installing a pool, or adding outbuildings.
Saving money by refinancing to a mortgage with a lower interest rate or reduced fees.
Accessing new loan features that are better suited to your current situation.
Debt consolidation to pay off credit cards, store cards, and other loans by consolidating them into your home loan.
Accessing equity in your home for purposes such as overseas travel, purchasing a car, acquiring an investment property, or other financial needs.
4. Can I Receive Cash Back When Refinancing My Mortgage?
Eligibility for cash back when refinancing depends on the amount of equity in your home and your outstanding loan balance. If you qualify for a cash-back refinance, our mortgage consultants can help assess your options and guide you through the process.
5. How Often Do I Make Home Loan Repayments – Weekly, Fortnightly, or Monthly?
Most lenders offer flexible repayment options to suit your needs. Opting for weekly or fortnightly repayments, rather than monthly, means you’ll make more payments throughout the year, which can help reduce both the duration and cost of your loan.
6. How Is Interest Calculated?
Interest on your home loan is calculated based on the daily outstanding balance. Making extra repayments or depositing additional funds into your loan account can significantly reduce the interest payable. A redraw facility allows you to access these extra funds whenever you need them.
7. How Much Deposit Do I Need?
The deposit required depends on the type of loan facility you choose. While the standard deposit for a home purchase is typically 20%, this can be reduced to between 5% and 10% of the purchase price or valuation (whichever is lower), which is paid when signing the Contract of Sale.
8. How Long Does Settlement Take?
The time between the exchange of contracts and settlement can vary, but it typically ranges from four to six weeks. Settlement timelines are usually determined by the seller and the lender, although they are often negotiable with the buyer.
9. What Fees/Costs Should I Budget For?
When buying a property, there are several fees to consider. To avoid any surprises, here is a breakdown of the usual costs:
Stamp Duty – A government tax levied on the purchase price of your property. Stamp duty rates vary by state and territory and depend on the property’s value.
Mortgage Insurance Costs – Lender’s Mortgage Insurance (LMI) is required if you borrow more than 80% of the property’s purchase price.
Lender Costs – These costs depend on the lender you choose. Most lenders charge establishment fees, which help cover the costs of property valuation and administration fees. Our mortgage consultants can help you select the right lender and home loan product based on your needs.
Conveyancing/Legal Fees – Conveyancing is the legal process by which ownership of real estate is transferred. These fees cover all the legal aspects of your property purchase.
Ongoing Costs – You’ll need to budget for ongoing costs like council and water rates, as well as regular loan repayments. We also recommend considering building and contents insurance to protect your property and belongings.
Building Inspection – Your Contract of Sale should be subject to a building inspection. This allows you to withdraw from the purchase if significant structural issues are discovered, without incurring major financial penalties.
10. Am I Eligible for the First Homeowners Grant?
You may be eligible for the First Homeowners Grant if neither you nor your spouse have previously owned a home or claimed the grant. For more information, visit www.firsthome.gov.au.