Read Finance FAQ
You should get in contact with us at any point when you are interested in buying a home or other financial purchases with a loan. There is no time too early to get in contact with us and seek our advice.
We don’t have a set fee to use our services. We aim to have simple, straightforward home loans complementary. More complex loans may have a fee attached. If we are charging for our service, you’ll receive a credit quote along with the credit guide.
Read Finance follows the best interest duty, which is legislation that bounds us to find a loan that is in your best interest. We aim to have you as a client for life, where we can help you with your financial needs throughout your entire life.
When getting a home loan we will provide you with our recommended loan with other options and why we’ve chosen the one we recommended. Each of these will include the commission we get from the bank or lender for writing this loan for you. This way, you can compare it with the other information we provide.
Once you have a home loan with us, we review your loan to make sure it aligns with your current and future financial goals.
No, we can refer you to qualified advisors that we recommend or find you a list of local contacts that may be able to help you.
Outside of the above-mentioned professional services, we may recommend services based on your requirement that you may be interested in. You are under no obligation to follow through with our recommendation or use their services, and we may not even bring it up if it isn’t relevant.
- Home or Contents Insurence
- Vehicle Insurence
- Utilities
No, we are not owned by a bank or lender. We recommend loans based on what is most suitable for you. We can do this because we follow the best interest duty legislation and make sure of this.
Our primary focus is people buying property in Queensland, but we can also help people in every state and territory in Australia. This is important because some people have investment properties throughout Australia.
Read Finance aims to do all meetings and work online. However, we do travel around Queensland and can also meet you at our Office. Contact us to set up an in-person appointment, or we can do it all online.
We apply for the loan for you and provide the after-care and periodic loan reviews. We aim to have you come to us for all of your current and future financial requirements. This way we can modify and work on your current and future goals with finance tailored towards them.
You can see the majority of our lenders on the lender panel section on the homepage. For a complete list please reach out to us and we can provide you with this information. Additionally, you can read this in our Credit Guide before we work together.
Mortgage Broking FAQ
A Mortgage and Finance Broker use their panel of lenders to arrange home loans and finance for you. The best interest duty bounds people who provide home loans broking for all finance they provide which is why it is an excellent reason to use them.
Read Finance does these types of finance broking:
- Residential Loans/Mortgages/Equity Release
- Reverse Mortgages
- Car loans
- Personal Loans
- Business / Commercial Loans
- Equipment Leasing (eg. Cars, office equipment and machinery)
- Commercial Property Finance and Construction Development Funding
- Debtor Finance
These are the companies we are able to apply for a loan on your behalf. Each Bank or Lender on the panel of lenders requires accreditation to us. This accreditation may include training on best interest, using their system, and following their processes.
Banks and lenders offer different solutions and promotions to different people. An excellent place to start would be to save at least 5% as genuine savings plus the cost of the Lenders Mortgage Insurance. The price of Lenders Mortgage Insurance differs between each lender and the loan size. We can help by providing you with this information as we would require information from you.
The 5% is not a rule, depending on your profession and the lender’s current promotions or offerings not requiring as much. Talk to us so we get a better understanding and advise you according to your own unique situation.
There is no set time that it takes for a home loan to be approved from start to finish and different lenders. If you are on a hard time limit to get a home loan approved, then we’ll take that into consideration when going over your situation.
Formal approval can be done within the same day in some cases. This is not common though. If you are in a rush to get approved, ensure you provide all the requested documentation to us so we can get the process started.
Certain visas are able to get finance in Australia. Please get in touch with us to discuss your situation further so we can provide the appropriate advice.
The bank or lender sets the interest rate. It is decided on many factors but is seen to move with any change in the cash rate. The cash rate is discussed on the first Tuesday of every month excluding January by the Reserve Bank of Australia. Mortgage Brokers do not set interest rates.