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Home Loan Services
True Choice offers a range of services, which enables you to choose how we can serve you the best.
Take the opportunity to talk to us on -
- Home Loans
- Investment Loans
- Negative Gearing
- Land Loans
- Construction Loans
- Bridging Loans
- Interest-Only Loans
- Principle and Interest Loans
- Variable Interest Rate Loans
- Fixed Interest Rate Loans
- Split Loans
- Combination Loans
- Home Equity Loans
Plus -
- Pre-Approvals
- Personal Budgets
- Debt Consolidation
- Mortgage Minimisation Strategies
- Analysis of Existing Home Loans
- Checking of Interest Calculations
With our Home Loan Selection and Processing Services, you can rest safe in the knowledge that we are working for you and that you will be kept informed during each step of the process. We specialize in Home Loans, we are aware of the differing policies of the various Lenders and are therefore able to determine which Lenders will be best suited to your situation.
- We do not sell insurance.
- We do not sell Credit Cards.
- We do not sell any products of our own.
We simply analyse the largest selection of home loan options for our clients and present to them our recommendations based on their individual requirements. Our customers are free to choose the lender of their choice.
How does True Choice Find the Right Loan?
The process we work through with you when buying a home is basically as follows:
- WORK OUT HOW MUCH YOU CAN AFFORD Each Lender has their own way of determining how much a person can afford to borrow when it comes to approving Home Loans. A loan that is rejected by one lender is perfectly acceptable to another lender. Similarly, certain types of income, or employment types, may not be acceptable to some lenders. True Choice has the ability to inform you which lenders accept various income types etc. We account for these differences, as well as all of your other expenses and work out how much you can afford using the lenders own assessment formulas.
- WORK OUT HOW MUCH YOU NEED This takes into account the purchase price of the property, costs such as stamp duty, bank fees and charges, legal fees, registration fees, mortgage insurance, building and pest inspections etc. LESS your deposit and other contributions.
- WORK OUT HOW MUCH YOUR REPAYMENTS ARE LIKELY TO BE You will need to consider your longer term goals as well as your longer term income capacity to decide how your Home Loan needs to be structured. Changes in your lifestyle can impact on your financial situation. Starting families, changing homes, changing jobs, all effect your ability to meet loan repayments. The overall term of the loan combined with the establishment fees and on-going costs are taken into account to ensure that your longer-term goals are catered for and your loan is paid off as soon as possible.
- DECIDE WHICH TYPE OF LOAN BEST SUITS YOUR SITUATION Again based on your current and long term situation, we can explain the many options available from different lenders. For example Fixed Rate or Variable Rate loans, Split loans or Equity loans, loans that enable you to redraw your excess repayments, loans that allow early or extra repayments without penalties, and the list goes on.
- FIND OUT WHICH LENDERS HAVE THE TYPE OF LOANS YOU NEED Not all lenders are able to offer the same kind of loan accounts. We are able to look for the lender you want from our database of approximately 170 different lenders who have some 2500 different loan products. We can also include any other Home Loan providers that may not be on our list at your request.
- OBTAIN LOAN DETAILS FROM EACH LENDER THAT HAS THE PRODUCTS YOU NEED This includes Interest Rates, Establishment Costs, Fees & Charges and other conditions relating to each loan from each lender.
- COMPARE ALL SELECTED LOANS AGAINST EACH OTHER True Choice will use these loan details to run a simulation of each loan over the term selected by you which will produce a detailed comparison that will enable you to choose the best home loan for your situation.
- COMPLETE LOAN APPLICATION AND SUBMIT TO THE LENDER OF YOUR CHOICE When you select the lender of your choice, we will complete the necessary loan applications on your behalf and submit them for approval. There is generally no need for you to attend any Bank interviews as we do all the paperwork for you and the lender. In a number of cases we also have access to discounts on fees and/or are able to show you how to obtain discounts on other Banking products.
- ARRANGE HOME LOAN DOCUMENTATION Following approval of your loan we will arrange for the lender to forward the loan documentation to you for checking and signing. You may also wish to have your solicitor look at the documents as well. It is important to ensure that the documentation contains the same terms and conditions as we discussed during this process. If for any reason they differ, we will go back to the lender on your behalf to rectify the situation.
- ANNUAL REVIEW OF YOUR HOME LOAN With your permission, we will arrange to reassess your requirements on an annual basis or whenever you feel it necessary to check up on what is happening in the Home Loan market. It may be that your circumstances change unexpectedly and your financial requirements need to be checked. True Choice wants to ensure that you are at all times completely satisfied with the service we provide. If you ever feel that something we have done is not acceptable we will do everything we can to rectify the situation.
As you can see there is a substantial amount of work that goes into selecting the right Home Loan, and at True Choice Home Loans we take our job seriously.
