Frequently Asked Questions
Why get a mortgage pre-approval from ‘A Better Mortgage’?
We review your situation and the type of property you are looking to
purchase and then approach lenders that will suit you best. A
pre-approval gives you greater confidence when looking at open homes
as you have a better idea of your budget. Some pre-approvals last up
to 180 days and can put you in a stronger position to make a timely
offer on your dream house. The one thing a vendor can’t control is
your ability to get finance.
If you do your homework before you make an offer you can go in with less conditions and give yourself a greater chance of getting your offer accepted.
How long does the mortgage pre-approval process take?
Once we have the required documentation (typically a couple of payslips or financial statements, proof of deposit and 3 months of day-to-day bank statements) and the application completed by us, it’s only a day or two for the banks to get back with an answer.
If it is really urgent we can get it turned around faster within a matter of hours.
I know my bank pretty well already. How are you different than the
A key difference is that we don’t work for the banks. We give unbiased advice and can compare products and policies from all the other banks and lenders. They pay us a commission, which is not passed onto yourself, so we are working for you- not the banks profit line. We are just another way of them generating business like advertising on television or in the paper.
We have strong relationships with the banks and if your current bank is best then we can continue to work in with them. It’s our job to ensure that you’re getting the best possible deal, on an on-going basis.
What if I go to the bank for a mortgage myself?
The volume of business we put through the banks mean we are typically able to negotiate larger discounts than you can individually. Some weeks we will have several million of dollars of loans going through compared to most customers having a new loan every few years. That volume gives us greater bargaining power and gets you a better deal.
Plus you benefit from our knowledge of housing trends and interest rates.
Our experience saves you time and money. Depending on your scenario some banks are better suited than others. We can do all the leg work of selecting the best lender to suit your needs. We can come to you 7 days a week at a time and place that suits you.
I already have insurance cover in place. Why is it worth reviewing?
We may be able to get you more comprehensive cover at a lower premium.
At different stages of your life different types and levels of cover are more suitable. When you first buy a property or have a young family, life cover is very important and as you get older and your earnings improve then medical and income protection become more relevant.
Also, if you ever have to make a claim we can follow through with it on your behalf to ensure the claim is paid in a timely fashion so you can concentrate on your family, and getting better.
I have a hectic schedule, when are you available?
Pretty much any time (24/7). We realise you have a busy life so we can come see you 7 days a week - in the weekend, before or after work and into the evenings. Just call anytime to arrange an appointment that suits.
Or we can do everything by fax, phone and email. It’s your choice.