FAQ

Why should I use a mortgage broker?

We work for you, not for the banks. We work to discover and understand what you need and use our expertise of the market to negotiate with lenders. With so many lending options on offer, it can be an arduous task to figure out which one is right for you. Our team members seek to find you the most appropriate finance arrangement that will suit your needs now and in the future. Know that you are getting the right deal by having a broker do the hard work for you.

• We provide a range of choices and find you the most suitable deal

• We work with multiple lenders, keeping healthy competition alive

• We can negotiate a better outcome

• We do the hard yards for you

• We are paid by the banks, not by our clients

What sort of lending do you help with?

Ridgemont Partners is positioned to assist everyone from First Home Buyers to home builders, to investors, property developers and business owners.

I don't have contacts with conveyancers, accountants, or financial planners. What do I do?

Ridgemont Partners has developed alliances with other professionals in many areas and would be happy to refer you to people we believe will suit your particular needs.

Who do I call if I have a question in the future?

We encourage clients to call the broker that assists them or our skilled Ridgemont Partners support staff.

How much money can I borrow?

We’re all unique when it comes to our finances and borrowing needs. Contact us today and we can help with calculations based on your current circumstances.

How do I choose a loan that’s right for me?

We can educate you on different loan types and features to help you learn about the main options that are available. There are hundreds of different home loans available, so talk to us today.

How much do I need for a deposit?

Today you are able to purchase a home with as little as 5% deposit. Speak with us to discuss your options for the purchase of your first home.

How much will regular repayments be?

As there are so many different loan products, some with lower introductory rates, talk to us today about the deals that are currently available. We’ll work with you to find a loan set-up that’s right for you and at that point we can figure out an estimate of your repayments.

How often do I make home loan repayments — weekly, fortnightly or monthly?

Most lenders offer flexible repayment options to suit your pay cycle. Aim for weekly or fortnightly repayments, instead of monthly, as you will make more payments in a year, which will shave dollars and time off your loan.

What is the First Home Owner Grant and can I get one?

This is a grant available to Australian citizens or permanent residents who wish to buy or build their first home, which will be their principal place of residence within 12 months of settlement. Contact us to find out more about eligibility requirements in your state and how much grant money you could receive.

Can I get a mortgage where I pay less than I’m paying now?

Now is always a great time to shop around or check that you have the right loan for your needs. We’re a great starting point. It will depend what interest rate you’re currently paying, what type of home loan you have (e.g. fixed, variable, interest only, line of credit) and what features you want in your loan. We can quickly explain your options.

Can I consolidate credit card or other debts into a home loan?

This is one of the reasons some people refinance. The advantage is that you pay a much lower interest rate on a mortgage than for most other forms of debt – e.g. credit cards, overdraft facilities, personal loans etc. Providing you have sufficient equity in your property, you may be able to consolidate all your debt on a home loan. If you take this option though it is important to make sure you maintain your repayments of the debt that you consolidate at their current level, or you could easily end up paying more over a longer period of time. Speak with us today to discuss your personal needs.

How much money can I borrow?

We’re all unique when it comes to our finances and borrowing needs. Get an estimate on how much you may be able to borrow (subject to satisfying legal and lender requirements) with our clever loan options tool. Chat to us when you’re ready, we can help with calculations based on your circumstances.

How do I choose a loan that’s right for me?

Our guides to loan types and features will help you learn about the main options available. There are hundreds of different home loans available so talk to us today.

How often do I make home loan repayments — weekly, fortnightly or monthly?

Most lenders offer flexible repayment options to suit your pay cycle. Aim for weekly or fortnightly repayments, instead of monthly, as you will make more payments in a year, which will shave dollars and time off your loan.

What fees/costs are involved in switching mortgages?

Depending on your loan, penalty fees could apply if you’re paying off your current mortgage early or breaking your loan. But these may be offset by repayment savings when you switch home loans or cashback offers. We’ll walk you through any fees that could apply in your circumstances and how we can offset these fees to put you in the best possible financial situation.