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FAQ

MORTGAGES

What is a Mortgage Adviser/Broker?

An Authorised Financial Adviser or Registered Financial Adviser that specialises in mortgages.

How much does it cost to use your services?

Our services are free.

What is the difference between a Mortgage Adviser and a Mortgage Broker?

There is no difference.

My own bank declined my loan. Does this mean no-one will give me a loan?

Not necessarily. We will analyze your situation and work with you to find a suitable option from our large range of lenders. Each lender has different criteria and while one may decline your application another may be happy to offer an approval for you.

I am self-employed, is it going to be difficult getting a loan?

If you are newly self-employed or if you don’t have current financials, it can be difficult getting a loan approved. We deal with specialist lenders that offer loans for the self-employed when a bank says no.

I’m a first-time home buyer, how much deposit do I need?

We can work with customers with a deposit as low as 10% of the purchase price.

PERSONAL INSURANCE

Why do I/we need personal insurance?

As well as helping you buy the house, we can help you keep the house by putting in place a comprehensive personal insurance package that will protect you, your family and your income if the worst happens

Why should I use an adviser for my insurance requirements instead of my bank or insurance company?

You will be limited by the products they sell, which may not be the best cover or price that can be offered by other insurers.

Advisers are not pressured to sell products to meet budgets or incentives, which mean overselling and selling products not fit for the actual customer needs.

DOMESTIC INSURANCE

Why do I need house insurance?
  • Any new property purchased needs to be insured as a requirement of your mortgage obligations.
  • The lender will require you to have full replacement insurance, so it is important that you are insured correctly with the right sum insured and right cover.
How do I get the correct sum insured for full replacement insurance?

You can arrange for a Registered Valuer, or alternatively by using the Cordell building cost calculator from Corelogic.

Do I pay extra on house, contents and vehicle insurance if I pay monthly?

It is common whether you are dealing directly with the Insurance Company or through an Insurance Broker that the monthly premiums will have a loading. At Mortgage Sure we have arrangements that there are no loadings for paying monthly.

What happens if I need to make a claim?

We will assist and guide you through this important process to ensure your claim is settled fairly and in a timely manner.