FAQs
When you approach a bank directly, you're generally limited to that bank's products and lending policies. A mortgage broker can compare options across a range of lenders to help find a loan that suits your circumstances and goals.
At Beka Finance Solutions, we take the time to understand your situation, assess suitable lending options and guide you through the process from application through to settlement.
In most cases, there is no broker fee for our standard residential home loan service. We are generally paid a commission by the lender you choose after your loan settles.
If a fee applies to your particular situation or type of lending, this will be discussed with you upfront before you proceed.
Beka Finance Solutions has access to a wide panel of banks and lending institutions, giving us the ability to compare different interest rates, products, features and lending policies.
Having access to multiple lenders is particularly valuable because the lender offering the lowest rate isn't necessarily the lender that's best suited to your individual circumstances.
Yes. We can review your existing home loan and compare it against other options available in the market.
Depending on your circumstances, we may also be able to approach your existing lender for a pricing review before considering refinancing.
Sometimes staying with your existing lender makes sense; sometimes refinancing may provide a better outcome. We'll help you understand the options before you decide.
It can be, but it depends on more than just the interest rate.
When reviewing a refinance, we consider factors such as your current rate, loan balance, repayments, fees, loan features, remaining loan term and the costs involved in changing lenders.
Our aim is to determine whether refinancing provides a genuine benefit rather than refinancing simply for the sake of changing lenders.
Your borrowing capacity depends on a range of factors, including your income, existing debts, living expenses, dependants, available deposit and the lender's individual assessment criteria.
Different lenders can assess the same financial situation differently, which is why understanding which lenders are suited to your circumstances can make a significant difference.
We can assess your situation and give you a clearer understanding of your borrowing options.
The amount you'll need depends on the property, your financial circumstances and the type of loan you're applying for.
While a 20% deposit can help avoid Lenders Mortgage Insurance in many situations, there are lending options that may allow eligible borrowers to purchase with a smaller deposit.
We'll help you understand the deposit, costs and lending options that may be available to you.
Absolutely. Buying your first home can feel complicated, particularly when you're trying to understand deposits, borrowing capacity, government assistance, loan options and the purchasing process all at once.
We'll guide you through each stage, explain things in straightforward language and help you understand what you can comfortably afford before you start making offers.
Getting pre-approval can be a valuable step before making an offer on a property.
It can give you a clearer understanding of your borrowing position and help you search for properties within an appropriate price range.
Pre-approval is generally conditional rather than a guarantee of final approval, so we'll also explain any conditions you need to be aware of.
Yes. We work with self-employed borrowers and understand that their income and financial position may not always fit the standard lending criteria used for PAYG employees.
Depending on your circumstances, there may be full-documentation, alternative-documentation or other lending options available.
We'll review your situation and identify lenders whose policies are better suited to the way you earn your income.
Potentially, yes.
A decline from one lender doesn't necessarily mean every lender will reach the same decision. Banks and lenders have different credit policies, servicing requirements and approaches to different types of borrowers.
We'll first try to understand why the application was declined before determining whether there are other appropriate options worth exploring.
Potentially. Previous credit issues don't automatically mean you won't qualify for finance.
The options available will depend on factors such as what occurred, how long ago it happened, your current financial position and the type of finance you're seeking.
We'll discuss your circumstances confidentially and determine whether there are suitable lending options available.
No. In addition to owner-occupied and investment home loans, Beka Finance Solutions can assist with a range of lending needs, including refinancing, commercial lending and SMSF property lending.
If you're unsure whether we can assist with your particular situation, you're welcome to get in touch and have a conversation with us.
We'll start with a conversation about what you're looking to achieve.
From there, we'll gather the information needed to understand your financial position, research suitable lending options and explain our recommendations.
If you decide to proceed, we'll help manage the application and keep you informed throughout the process through to settlement.
Absolutely.
You don't need to be ready to submit a loan application before speaking with us. In fact, having a conversation earlier can help you understand what's possible and what you may need to do before you're ready to proceed.
Whether you're planning to buy in a few months, considering refinancing or simply want to understand your options, we're happy to have a conversation.
Every situation is different. Tell us what you're looking to achieve and we'll help you understand your options.