Frequently asked questions
Our business is built on word of mouth referrals so we understand the importance of providing superior client outcomes at every opportunity. We work for you from the moment you engage us. Our mission is to build long lasting relationships and ensure we are able to put you in a better financial position.
We take time to listen and together we plan for your future. We provide ongoing support and conduct regular reviews to ensure you are always getting the best on offer. With access to 40 different lenders and over 1000 different loan products, you can rely on us to find the right solution for your unique circumstance.
There are no fees for our services. We get renumerated by the lender of your choice after your loan settles.
Refinancing refers to paying out your existing loan with another loan (from another lender). The common reasons for doing so include releasing available equity and getting better interest rates.
Lenders require that you have minimum of 5% deposit of the property’s purchase price before taking out a home loan. However, in certain situations, this deposit can be lower. The maximum amount is up to you. Remember that you may have to pay Lender Mortgage Insurance (LMI) if your deposit is less than 20% of the property’s price, unless you qualify for an LMI waiver.
There are numerous home loan options for first home buyers. There are also various schemes and grants you may be eligible for. As the options will vary depending on the location and price of the property, let the Zenith team advise you of the current options available to help you make an informed decision.
Yes. You can use your home equity to buy another property. Generally, you can access up to 80% of your home equity. The equity you have available depends on how much of the loan you have remaining and the current valuation of your home. We can assist with calculating your available equity.
Yes. Generally, available equity can be taken out to use for other purposes. Examples of these include funding a holiday, consolidating existing debt, investing in shares, funding renovations, etc.
At a minimum we’ll need your ID documents, income verification documents, and your assets & liabilities. As we progress internally with the application, we may ask for additional supporting documents to make sure we can get your loan approved with minimal fuss.
This depends on how long it takes for you to send us all requested supporting information and documents. Once we have enough details to make a recommendation, it will then be up to the chosen lender’s turnaround time. This could be weeks to months, which is why we always recommend getting the process started as soon as possible, especially for property purchases.
Even though our head office is based in Sydney NSW, we are able to service clients all over Australia and in some cases even clients living overseas.
Different lenders have different credit criteria and requirements that you must meet before they lend you money. We take time to analyse your credit file, income situation, strengths and weaknesses of your financial situation, and much more, to find you the most suitable lender and loan package.
Sometimes you may not qualify to get finance from a particular bank. Once we have assessed your situation, we will be able to find you the lowest rate possible from eligible lenders. Interest rates are only part of the equation, we’ll help you take into account all other fees so you can make an informed decision.
Loan structures are primarily determined by how the ownership of the property/security is structured. We can assist you by asking your accountant and/or financial planner the right questions.
We’ll be more than happy to refer you to our trusted partners. We have very good relationships with solicitors, conveyancers, buyer’s agents, developers, builders, accountants, and many more.