Mint

finance

Finance Solutions from every angle. .

Information Pack

We have experience and can assist you with the following areas:

Mint360finance is an independently owned Australian company, formed with the view to provide an unrivalled level of service and expertise in the finance broking market.

We are a boutique agency that has a team of experienced finance specialists who will ensure that you get the best advice to consider all options available to you.

With over 40 lenders on our panel, Mint360finance can obtain funds from an extremely broad range of sources. So whatever kind of loan you need, we can find the ideal solution.

• Personal Loans

• Refinance

Mintfinance Who is Mint360finance?

• Home Loans

• Low Doc / No Doc Loans

• Deposit Bonds

• Business / Commercial / Leasing

• Property Investment Loans

• Other Investment Loans

Before considering your next move, give the team at Mint360finance a call. Whatever your individual situation, a Mint360finance specialist can provide you the advice to ensure that you choose the right loan for you.

In today’s lending marketplace there are hundreds of lenders who between them provide thousands of loan products. All these loans come with different features and options, which your circumstances may or may not require.

So how do you go about choosing between them?That’s where a mortgage or loan broker comes in, to help you navigate through the complicated process of finding the right loan and negotiating a great deal with your lender. Once you have selected a loan, the broker also guides you through the process of applying for and settling your loan.

Ben JuddFinance Managerm 0406 420 500

Andrew StrogylosFinance Coordinatort 02 8383 7200

Brokers provide other benefits, too. They can give you access to a wider range of loan options, including some loans that are simply not available to borrowers on the open market. They will explain the extra fees and charges that are associated with some loans. Brokers have systems for searching quickly through thousands of different loan options, they can save you lots of time.

Over the past decade, mortgage brokers have become a widely recognised part of the mortgage sector, around half of all home loan applicants now secure their loan through a broker. Mortgage brokers can offer borrowers their services at no cost because their fee is paid by the lender if and when a loan is settled.

Why should I use a Broker?

1.Meeting A Face to face meeting is arranged with your Mint360finance representative. Financial solutions are presented and your finance application is taken.

2.Lodgement Your loan application is submitted electronically to the preferred lender.

3.Conditional Approval Lender provides approval subject to any conditions that are relevent for your personal circumstances. This may include valuation and or final approval by the banks insurers.

4.Valuation The lender, or Mint360finance will arrange and coordinate the valuation of the security property being offered.

5.Unconditional Approval Once all conditions have been satisfied, the lender will confirm by way of a written Unconditional Approval. Mint360finance will contact all necessary parties to advise.

6.Loan Documentation The lender will forward all necessary paperwork to you, your solicitor or to Mint360finance for execution. A copy of the Building or Strata Insurance may be required at this time.

7.Loan Settlement Once all the documents have been returned to the lender and deemed to be in order, the lender will prepare funds for settlement. The lender and your legal representative will liaise with each other to ensure a mutually agreeable time, date and place for settlement, Mint360finance will oversee this process.

8.Post Settlement Mint360finance ensures your loan is reviewed regularly.

Loan Process

The initial Interview is conducted via telephone where a Mint360finance representative seeks to obtain all relevent information about your financial position

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In the Australian loan market, borrowers can select from thousands of different products. While each of these have different features and costs associated with it, almost all loans fall into one of the following nine broad categories:

Variable rate / Fixed rate In a variable rate loan, your loan repayments can rise and fall as interest rates rise and fall. You can usually make extra repayments without suffering a penalty. In a fixed rate loan, your repayments remain at the same level whether interest rates go up or down. This kind of loan gives you more certainty but it is less flexible. You could end up making higher repayments if interest rates fall.

Split fixed/variable In this “best of both worlds” loan, a portion of your loan goes up or down in line with interest rates while another portion is fixed.

Basic variable This is a kind of variable loan which offers you a lower interest rate but without the flexibility of a traditional variable loan.

Low doc/no doc These types of loans require minimal financial reports from you but they can attract higher interest rates.

No deposit In this type of loan, you do not need to save for a deposit. A no deposit loan is more difficult to obtain approval for and can attract a higher interest rate.

Non-conforming This type of loan offers an avenue for those with patchy credit histories to borrow money. It attracts higher interest rates.

Line of credit/equity Lines of credit are loans that are secured by an existing asset. They are very flexible and do not require regular monthly repayments.

Types of Loan

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Owning an investment property not only offers the opportunity to build wealth but extends itself to the opportunity to save tax also. These tax savings can go a long way towards assisting with your investment property cash-flow requirements.

“Owning investment property can have many benefits. The tax savings derived through property investment can assist in paying off your investment property sooner,” explains Finance Manager Ben Judd of Mint360finance.

“Being prepared is the key to obtaining all of your entitled tax savings. Many investors don’t keep on top of paperwork and legal requirements nor do they seek to understand available deductions associated with investment property.”

Keeping accurate records from the outset is a golden rule to maximise your tax savings. Always keep receipts and source documents and don’t let paperwork “pile up”, rather file it promptly and efficiently.

Here is a list of deductions available to property investors:

Prepare Yourself to Save Tax

•LandTax

•LegalExpenses

•BodyCorporateFees

•PestControl

•AgentsFeesandCommissions

•RepairsandMaintenance

•Stationery

•TravelrelatedExpenses

•TelephoneExpenses

•RelatedTravel

•AdvertisingforTenants

•BankCharges

•BorrowingExpenses

•CapitalWorks

•CouncilRates

•DepreciationofAssets

•GardeningandLawnMowing

•Insurance

•InterestExpenses

•WaterCharges

At Mint360finance, we compare over 40 lenders to find the ideal home loan that meets your needs and saves you money.

Self-employed and looking to buy property? Often low-doc loans suit many self-employed people who haven’t completed tax returns, or have full financial statements and the like.

Ben Judd of Mint360finance explains:“These types of loans often suit the self-employed. They are generally offered at a higher interest rate and available through a range of lenders. With the convenience comes some pitfalls, and a higher interest rate isn’t the only one”

Low doc lenders generally want larger deposits and will lend a lower percentage of the value of the property. They may also require mortgage insurance, which can be costly.

“Often it is worthwhile taking the time to get your tax returns in order and applying for a standard housing loan. It is more affordable and makes sense as eventually you will be required to do so regardless,” concluded Ben.

The Low Down on Low Doc Loans

mint360finance.com.au

02 8383 7200info@mint360finance.com.au75 Belmore Road, Randwick

Australian Credit License 394 353Credit Representative Number 132605981