Low Doc Home Loans
What is Free assessment ?

The finance group is offering free assessment for any type of mortgage lending depending on the commitment of the client. We usually resolve most of our clients problem on the first call or contact and give them and indication about possible loan options that they can stop shopping around for loan and avoid creating adverse record on their credit history.

How The finance Group deal with an urgent loan ?

The finance group has a dedicated team to assess and process your application. So we can prioritize your application considering urgent nature without any extra cost.

What will happen during free assessment process ?

After first contact resolution we request client to provide complete documentation for their loan to verify their eligibility comparing lending policies of our panel lenders. We also obtain all relevant VEDA reports and property report at our costs to complete the full assessment of the loan like the actual lender. We always get as much documents as available from the client to give them access to wide range of lending options, but we only submit those documents to the lenders that is required by their written lending policy.

Client receives a written credit quote for their loan within 24 hours from receiving all required supporting documents from them. As soon as client sign the credit quote and commit with us to proceed with the loan we commence the application and paper works for the selected lender and submit the application to the lender as per client's requested time frame.

How I will commit to the finance group ?

Client can pay an upfront commitment fees of $220-$330 depending on the loan amount and complex nature of the loan requirements. This amount most of the time cover the expense to obtain relevant VEDA reports to finish the complete assessment of the loan, in the event when client do not proceed with the loan.

We usually deduct the amount from our negotiated amount of brokerage at the time of settlement depending on other conditions.

If client does not have any ready fund to pay any amount of commitment fees we usually request the client to sign a credit quote to commit with us to proceed with the loan as soon as we have indicative offer ready for them.

How do I pay commitment fees ?

The finance group has a designated company account where you can deposit the fund. We provide account details upon request of the client. Client must have to provide payment receipt for any payment they make to the company account that we can proceed with application without any delay as well as we can trace the payment of client.

Why Commitment to The finance group is critical for the service ?

The finance group have created strong relation to all lenders with numerous approval for loans. When client do not proceed with application after submitting to the lender it usually effect our reputation with the lender. Some lender usually reduce our commission if conversion of applications do not remain 100% for any reason.

When client change their mind during assessment process we usually account loss for the time we spend for assessment. The amount we spend to obtain reports for the client that will increase the amount of loss for us. From our experience we have seen some client they usually deal with multiple brokers at a time and also try to have advice from brokers to do the loan by-themselves. We actually like to avoid this type of unfair client service relation to minimize unnecessary loss for unsolicited clients.  

What is a Credit quote ?

Credit quote is a written indicative offer from the broker to client required by law to offer any service in finance industry. The law imposed to us in conjunction with our credit license.

  1. The credit quote explain all possible descriptions of the proposed loan like, interest rate, term, maximum loan, lending costs, valuation cost, other special conditions of the lender and broker.
  2. The credit quote also creates a written agreement in-between broker and client to agree with certain terms and conditions for the service. Failure to meet any term or breach of any agreement gives the broker company to involve legal procedure.
  3. Broker company has rights to take court action in the event of any agreed fee or compensation not paid by client as per signed agreement.
  4. Clients are allowed to take legal advice before they sign the credit quote.