Q: How much can I borrow and how much will my repayments be?

To find out how much you can borrow and what the repayments will be, please send Lifestyle Loans an email to info@lifestyleloans.net.au and one of our Mortgage Consultants will contact you within 24 hours to discuss your specific circumstances. Alternatively, please feel free to call us on 1300 123 LOANS.

Q: How can you help me to save money?

We can save you money in a number of ways. Firstly, we save you time. We do the shopping around for you. Our mortgage consultants will provide you with a short list of products that meet your specific requirements. We can find you great rates and low fees. As a member of the Australian Finance Group, our consultants are constantly updated with interest rate changes and any special offers. If you already own a property and have a number of consumer debts, we can assist you in consolidating all of your debts into the one home loan package. This means your overall monthly commitments could be reduced, sometimes quite substantially, saving you money.

Q: How can I benefit from using a mortgage consultant?

A mortgage consultant will help you to make your own informed decision. As a Lifestyle Loans client, you are able to draw on our vast experience in the home loan industry. We have over 700 products and 35 banks/financial institutions available to you. The consultant's aim is to match you up with the product that suits you most. We have the latest computer technology that sorts through the loans and picks the best products to suit your individual needs.

Q: What is the fee payable to Lifestyle Loans?

Our home loan service is FREE. You pay us nothing to find a home loan that suits your specific circumstances. We are paid a commission direct from the lender after your loan settles. We can also assist you in finding a personal loan. We do charge a small processing fee for this service.

Q: What are the steps involved in taking out a loan?

Firstly, we will ask you a few key questions about what you are looking for in a loan and some details about your personal financial position. From this we will filter loans from our extensive panel of lenders to find a loan to suit your needs.

We will give you details of the proposed loan and assist you in completing the application and gathering the information required for the lender. We will then lodge the application to the lender for you.The loan application will be assessed by the lender, generally within 48 hours, and an initial decision will be given.

If a valuation of the security property is required, this will now be ordered. A valuer may need to contact you to gain access to the property. We will contact you if there are any further requirements from the lender to provide full approval and will inform you once the loan has been approved.

A letter of offer and mortgage documents will then be sent to you or your solicitor from the lender or their settlement agent generally within 6 - 10 business days. You will need to sign and return these documents as soon as possible. We are happy to assist you in the signing of these documents if required. The lender or their settlement agent will then arrange a settlement date and we will advise you when your loan has settled.

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Q: How long will my loan take to be approved?

Each lender is different, however generally a loan will be fully approved within 5 - 7 business days. Issues that may slow down the process include delays with the valuer obtaining access to the security property and not receiving all documents upfront that are required for the Bank to give approval. Therefore, it is important that you give access to the valuer promptly and provide us with all information that we request as soon as possible.

Q: Can I get a pre-approval before signing a contract?

Yes. If you would like the peace of mind knowing that your loan is approved subject to finding the property you wish to purchase, we can submit your loan to the lender for a pre-approval. Once you have signed a contract you simply provide us with a copy of the contract and we will forward to the lender to obtain a valuation on the property and full approval of your loan. Obtaining a pre-approval is useful especially in the case where you are going to an auction.

Q: The Real Estate Agent wants my deposit upfront but it is tied up in equity/investments. What do I do?

If you find you are in a position where your deposit is tied up in equity or investments, and will only be available on settlement of the new purchase, we can help you arrange a Deposit Bond. Being a member of the Australian Finance Group we are affiliated with a company that can assist you through this process. We will contact the Real Estate Agent to advise that you will be obtaining a deposit bond and when all parties are agreed, the contract will be amended to reflect this. As the name suggests, the affiliated company provides a guarantee that the full deposit will be paid on settlement of the purchase.

Q: Can you help me with a personal loan/leasing/equipment finance?

We can assist you in finding a personal loan/leasing/equipment finance. It is an easy process where we will ask you a few key questions and a decision can be given subject to verification of the information you have provided. We do charge a small processing fee for this service.