We care about you, our clients first – not the lender. We go above and beyond to ensure you have the right loan to suit your needs.
We will be there with you every step of the way from application right through to settlement and beyond. Our services don’t just stop after your application has settled, we are here to offer our expert advice past your first application with us.
Generation Financial Group will save you time! We have access to over 40 lenders across home, vehicle and commercial lenders so you can be confident that we will be able to find you the right loan to meet your goals and expectations.
With over 30 years’ experience in the financial services industry our business has been built on always putting our clients first. We take the time to first understand our clients’ personal and financial goals and then provide them with the first class service and products to meet their goals and expectations.
A mortgage broker works for the borrower, not the lender. At Generation Financial Group we put our clients first. We work with you to find out what your requirements are and then we use our experience and knowledge of the market to better negotiate the right loan for you with the lender. We help you complete all of your paperwork and manage the application process for you right through to settlement.
Our aim is to save you time and just make your life easier when looking for the right loan.
LVR stands for “Loan to Value” Ratio. This is the amount of the loan compared to the value of the property. For example, if you have borrowed $400,000 and your property is valued at $500,000, the LVR would be 80%.
LMI (Lenders Mortgage Insurance) is a form of insurance that is taken out by the lender to protect themselves should the customer default (e.g. can’t repay their loan). It is a once off premium that the borrower pays and is generally only required if the LVR is higher than 80%. The key point to remember is that LMI covers the lender, not the borrower.
Both repayment options come with their own pros and cons.
A fixed rate gives you certainty of what your repayments will be each month and will protect you against any future rate rises. However if the rates decrease you will miss out on the benefit.
A variable rate provides you with some added flexibility that a fixed rate may not. For example, extra repayment features, offset account and the ability to redraw on your loan. However, if rates change then there is a risk that your variable rate will also change.
An offset account is a transactional account linked to your home loan. The balance held in this account offsets the balance in the home loan, helping to reduce the interest paid and overall term of the loan. For example if your home loan balance is $250,000 and you have $10,000 in your offset account, you will only be charged interest on a $240,000 loan.