So here you go…we’ve done our best to list answers to our most
frequently asked questions.
This is a formal compliance requirement our talented finance people must complete to check that any credit contract you enter into, will not be unsuitable.
For us to be able to complete this, we have to verify you exist by completing the kick off consultation & identity checks, as well as to request for you to provide personal and financial information via our Kick-off form.
Once we have completed our compliance steps (and verified you’re not a robot!) and we have had a chat with you about want you want to achieve, we then get our geeky groove on behind the scenes to see how we can help!
We can only ever complete this assessment once we have completed ALL our compliance steps and verified your financial information.
You see, a mortgage Broker is the “go-between” the borrower and the lender (usually a bank), who negotiates the loan on your behalf. They can research hundreds of products on the market from a panel of lenders and provide options and advice as to which lender/product is more suitable. A Mortgage Broker will then complete your loan application, follow the application checklist, assist to achieve an approval and then work towards the settlement.
Whereas, our team of clever finance strategists not only act in the capacity of a Mortgage Broker, but we also have the ability to assess laterally, think strategically and view different angles of your financial position, rather than just ticking a loan application checklist with a fit in the box mind set.
Well to put it simply; a Strategist is a super clever person that can really think outside the box, pushes the envelope and really plans for the steps ahead. They think laterally and strategically and often love playing chess!
Our team of Strategists are fully compliant with the minimum qualifications of a Mortgage Broker, but we also hold something that we feel far outweighs ‘book smarts’………we actually talk the talk AND walk the walk!
Having personal experience in all things property; from buying, selling, developing and renovating; as well as our professional experience in more complex finance/loan structuring means we have been in most of our client’s shoes and can relate (and are super experienced) to many situations.
We also continually improve on our industry knowledge and hold accreditations and additional qualifications, such as a Diploma of Finance and Mortgage Broking Management; RG146 (Financial Products) and/or Bachelor of Accounting and Finance. This combined personal and industry experience often provides better negotiation skills with the banks/strategic alliances as well as superior credit knowledge of lender platforms and mortgage insurer requirements to better improve our client’s financial positions.
This is why we are continually sourcing lenders, loan products and options to keep us ahead in the finance game.
We have access to a panel of more than 40 lenders, including the major banks and non-bank lenders (as well as others that some would have never, ever heard of or have access to!)
Add to this our alliances with Private Funders, Peer-to-Peer lenders as well as Commercial and Mezzanine lending; we’re confident we can provide suitable finance options for our clients.
Similar to other mortgage brokers, Loop receives commissions from banks/lenders on the successful settlements of new loans we introduce.
In saying that, our team of very talented Finance Strategists (and super support team) work tirelessly behind the scenes making sure we’re getting you results; which sometimes can far outweigh the expected commissions from the bank.
Whilst we’d love to work for free, we always make sure that any fees quoted are viable to what you want to achieve and only ever issue you a quote if we feel confident that we CAN deliver!
Once we have conducted your initial kick off and completed your Preliminary Assessment, we will then be able to discuss if any fees may be applicable and then you decide whether to move forward.
At Loop, we don’t promise anything unless we are confident we can deliver.
Whilst we might be bloody good at most things, we are not licensed to provide accounting and/or financial advice (Well….not yet! Hint….Hint).
At Loop, we are passionate about ensuring you seek relevant advice specific to your own requirements and we can highlight areas where you may need to explore these avenues to improve your financial position and/or avoid potentially costly mistakes.
We are happy to work with your current accountant or we can align you with one of our own number crunchers to make sure you are fully informed.
These horror stories is what drives us to make sure EVERY client is given the opportunity on what advice MAY be needed, for them to make better informed financial decisions. This is why we are aligned with industry specialists on asset protection, estate planning, risk management, financial planning and accounting.
At Loop, knowing that we have given the heads up to our clients on what advice may be needed helps us sleep at night and gets us up again in the morning!