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What are the benefits of working with NG Loans??
- Experienced team
- High approval rates
- Shorter timeframes
- Latest information on lenders
- Less hassle. We compare loans for you
What’s the difference between using a Mortgage Broker or a Bank?
A mortgage broker offers professional advice to get you the very best home loan deal for your needs, while a bank is limited to the products offered by its business.
Do I have to pay NG Loans a fee for its services?
No! The lenders pay NG Loans following a successful settlement.
How does my NG Loans broker decide which loan is best for me?
Firstly, we analyse all your current needs and after that our team conducts thorough research across thousands of home loan options offered by banks. We check eligibility criteria vs interest rates and fees and other loan features to make sure you get the best loan offer suited to your goals and needs.
What are my responsibilities and what information do I need to provide?
To make the right decision regarding your loan, we require certain information from yourself, such as your income, living situation, age, dependents (if any), etc. You are required to supply certain paperwork on time, so there are no delays holding up your loan application.
Do you provide Mortgage Brokerage Services across the whole country?
Yes. We are nationwide within Australia and include all individual states and territories.
What is a Loan Pre-Approval and how long does it last?
A lender agrees in principle to a certain amount towards the purchase of your home, which is valid for 90 days. If you go beyond the 90 days without making a decision, you will be required to reapply for preapproval for free.
How do I apply for a Home Loan?
Easily upload documents via our user-friendly home loan platform. If you’re unsure, please call us and ask any questions you need answered quickly.
How fast can you settle my Home Loan?
Typically, we settle loans quite quickly – about 30 days. However, if we have already organised preapproval with a lender and the customer has found the property they want to purchase, this process can be settled much sooner.
How much initial deposit of the purchase price do I need?
Typically, in Australia, 20% deposit is required to go ahead with a home loan application. However, with the application of LMI (lenders mortgage insurance), you are now eligible to apply for a loan with as little as 5% deposit. There are some options available to avoid paying LMI. So don’t hesitate to contact us to learn more about it.
What are the costs associated with obtaining a Loan?
There are certain fees related to loans, which include standard fees, such as settlement fees, search fees and mortgage registration. Some banks also have an application fee and valuation fee, yet most lenders can waive them in goodwill when you address NG Loans.
Can you check what my maximum Borrowing Capacity will be?
Yes. Our online Borrowing Power Calculator is a very useful tool to determining how much you’re likely to be able to borrow. So, fill in your relevant details and find out today! Otherwise contact us to check your maximum borrowing capacity.
How is Lenders Mortgage Insurance relevant to the home loan application?
LMI (lenders mortgage insurance) covers only the lender’s risks when buyers have a deposit less than 20% of the purchase price. LMI insures banks against the risk of not being able to meet your loan repayments or if the property is sold for less than the outstanding loan balance.