We continue to search for savings on your mortgage. Every year. Sphere Home Loans.
Review your debt. Look for savings.
Refinancing is popular with those downsizing, or consolidating debt to pay off a home loan quicker, or with people looking for the best deals on the mortgage market to save money and assist with their broader savings and investment plan.
The Sphere Home Loans team:
provides advice on the equity of your current home or properties and how that can be used
searches the market for the lowest interest rates.
The Refinance Process
There are 2 phases in our process
Phase 1: Prior to submitting your application
Phase 2: Application submitted
Phase 1: Prior to submitting your application
First Contact - Initial discussion to understand what you’re looking to achieve.
Online Application - Capture personal details, requirements & objectives along with supporting documents.
Options Researched - Review/preparation of lender options based on previous steps.
Present Lender Options - Present and discuss lender options and make a decision on your preferred Lender.
Prepare Application - Preparation of your Application, Lender Pages & Compliance Documents.
Credit Proposal & Lender Forms Signed - Credit Proposal (outlining loan structure) and lender pages will be sent to you for signing.
Application Submitted - Application submitted to the Lender once signed lenders pages are returned.
Phase 2: Application submitted
Conditional Approval: The bank assesses your application and provides you with a Conditional Approval for loans without property. We inform you of your Conditional Approval and advises you of any additional requirements requested by the lender.
Note: your preferred lender may request additional documentation from you at this stage.
Unconditional Approval: Once you have found a property we organise a lenders valuation and inform you when the valuation has been completed. Sphere Home Loans then organises your formal/unconditional approval once all settlement conditions have been met. The lender issues your formal approval and we inform you of your Formal Approval.
Loan Documents: Mortgage documents are issued by the lender and we arrange to have them sent to you electronically or via mail (depending on the lender) or organises to meet with you to offer sign up assistance. Sphere Home Loans works with you to have the signed documents checked and returned to the lender for settlement preparation.
Loan Settlement: We work with your solicitor to ensure that settlement occurs smoothly and without delay.
It's never too early to speak to a broker
We help you understand how:
your debt-to-income ratio and how this can be used to your advantage
the overall costs of refinancing and whether costs can be put into the new loan
the balance between lower interest rates and conditions across the term of the loan and what is most effective for your strategy
how your accountant’s advice can flow into your borrowing strategy.
Chat to our expert team of mortgage brokers if you are :
downsizing
wanting to pay your loan off quicker
restructuring debt and investments because your strategy has changed
need to streamline your property debt
believe you could be saving money on your mortgage or across your mortgages.
It’s free to talk to our expert mortgage brokers. Call us now.
The Sphere Home Loans team helps you:
