Residential

Residential loans refer to loans, which use residential property as security. Each lender has their own name for their product and each will operate a little differently but briefly all loans available in the marketplace are either:

• Full Doc Loans are the most common types of loans. Full doc loans are available to both self employed and salaried borrowers who can provide evidence of income to support the loan application. Full doc lenders require evidence such as bank statements, pay slips and tax returns.
• Lo Doc Loans are loans used by self employed borrowers where full financials such as tax returns are not available to support the loan application. Lo Doc lenders do, however require you to be able to afford the repayments and you will be required to sign a declaration stating your income in order for the loan to be assessed.
• No Doc Loans are similar to lo doc loans except borrowers are not required to declare their income. It is important to remember that lending guidelines for these types of loans are often very strict with higher interest rates and lower loan to value ratios. You should not consider this type of loan if you do not honestly believe you can afford the repayments.

We will help you choose which product best suites your lending requirements and source the product that best matches your needs.

House Hunter Reports

Exclusive NEW offering for Mortgage Partners Australia clients.

When you start the exciting journey of looking for your dream home or the perfect investment property, whose advice can you really rely on? Your friends and family mean well, the agent who showed you the property is working for the person selling it and generally you’re stuck in the middle wondering where too next.

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 Commercial

Commercial loans refer to loans which use commercial property as security. Similar to residential loans each lender has their own name for their product and each will operate a little differently but briefly all loans available in the marketplace are either:
• Full Doc Loans
• Lo Doc Loans
• No Doc Loans

Ultimately the property type, its use and whether you are using it for your business purposes or operating the property as an investment determine the product you require. Commercial property funding has many variables that require careful consideration when deciding which product and strategy is right for you.

Deposit Bonds

In Australia when a person or entity enters into a contract to purchase residential or commercial property it is common practice for the purchaser to lodge a cash deposit of up to 10% of the purchase price with the vendor’s solicitor as security for the purchaser’s obligations. The deposit gives the vendor (the seller) a fund against which they can claim if you fail to complete the transaction.

A Deposit Bond is an instrument that, by agreement with the vendor, can replace the need for a cash deposit. It is a convenient way of purchasing a property without the need to arrange a large cash deposit or immediately cashing in or selling an investment that may mature at some point in the future. The Deposit bond is issued by an insurer to the vendor for all or part of the deposit required.

If the purchaser fails to complete the purchase of the property and has used a Deposit Bond, the vendor or holder of the Deposit Bond has the right to present the Deposit Bond to the Insurer and claim the full amount of the Deposit Bond. The Insurer will then seek reimbursement from the purchaser for any monies paid by it plus any other costs and expenses.

Leasing and Hire Purchase

Leasing & hire purchase offer two of the most flexible and convenient forms of business finance available today.

Leasing & hire Purchase finance enables you to purchase vehicles, equipment or plant without tying up large amounts of your working capital. As your mortgage & finance professional Mortgage Partners Australia can help you structure leasing or hire purchase finance to suit you and your cash flow situation. You may also gain tax advantages if the goods are dedicated to generating a business income.

The terms of leasing & hire purchase finance are set at the beginning of the contract so you know exactly what your regular repayments will be. In most instances you will not be required to pay an initial deposit.