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How long does pre approval take?

Pre approval timeframes can vary from a couple of days to several weeks depending on each individual lender. However, generally, your mortgage broker can negotiate on your behalf and give you a more accurate timeframe.

At Oceania Finance, our team of experienced mortgage brokers work with a wide range of lenders and are skilled in negotiating on behalf of our clients. Contact us today for information.

Can I get a mortgage with bad credit?

While it’s possible to get a mortgage with bad credit, it’s essential to be diligent, patient, and realistic throughout the process. Working with mortgage brokers, like our team at Oceania Finance, exploring all available options can increase your chances of securing a mortgage that meets your needs despite your credit challenges.

If you’re exploring your mortgage options but concerned about your credit history, contact our experienced mortgage brokers at Oceania Finance today.

What is the average fee for a mortgage broker?

Typically, most mortgage brokers do not charge fees directly to their clients and instead will receive a commission from the lender. In the event a broker does charge a fee to their clients, the fee will depend on each individual broker and the agreement you have with them.

Does a reverse mortgage affect your pension?

Whether or not a reverse mortgage will affect your aged pension will depend on:

    • Your individual circumstances
    • The purpose of your reverse mortgage
    • How you receive your reverse mortgage payment (i.e. in a lump sum or through regular payments)

If you are planning on taking out a reverse mortgage, it is best to contact a financial adviser or a mortgage broker to understand how a reverse mortgage will impact your pension and financial situation.

If you need advice on reverse mortgages, have a chat with Oceania Finance mortgage brokers today!