FAQ's

  • WHAT KIND OF APPOINTMENTS DO FFG OFFER?

    We understand that life can get crazy and somehow there are never enough hours in the day! That’s why we offer Virtual Zoom Appointments, so you can e-meet with us while in the comfort of your own home.

  • WHAT TIMES ARE AVAILABLE FOR ZOOM APPOINTMENTS?

    We offer appointment times during the day, after business hours & also on Saturdays.

  • WHY SHOULD I USE A MORTGAGE BROKER?

    Spending time weeding through loan products is not at the top of anyone’s agenda. Having a knowledgeable broker to assist you navigate the world of finance will save you time, money and headaches!

  • DO YOU CHARGE A FEE FOR YOUR SERVICES?

    At FFG, we do charge a fee for our services. However, your initial appointment with us, consultation & loan proposal is all complimentary. We only charge a fee on submission of your loan application if you decide to proceed ahead with our advice.

  • HOW MUCH MONEY CAN I BORROW?

    During your appointment with your broker, we will assess your living expenses and what you are able to afford that is a comfortable amount to fit in with your current lifestyle. We don’t ever focus on a clients maximum borrowing capacity as everyone lives a different lifestyle.

  • HOW MUCH OF A DEPOSIT DO I NEED?

    As a general guide, you will need approximately a 5% deposit plus the settlement fees & charges as well as a buffer of about $3,000 to cover things such as conveyancing and adjustments (includes council rates and water rates).

  • WHAT IS A PRE-APPROVAL & WHY DOES IT BENEFIT ME TO GET ONE BEFORE PUTTING IN AN OFFER ON A PROPERTY?

    Pre-approval, conditional approval and approval in principle are different ways lenders refer to the preliminary assessment conducted of the clients’ loan application. At this stage they will typically check ID, verify income and conduct credit checks. Where the applicant passes these preliminary checks, pre-approval is granted pending certain conditions with the most common condition being a valuation.

  • WHAT IS LENDERS MORTGAGE INSURANCE (LMI)?

    Lenders Mortgage Insurance is an insurance policy that lenders will require you pay where the LVR of your loan is greater than 80%. This means that where you have less than a 20% deposit to contribute towards your purchase you will need to pay LMI. This insurance policy provides protection for the lender (not the borrower!) in the event that you were to default on your loan and fail to meet your repayments. By making clients pay LMI, banks ensure that they are covered against any future risks.

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