Adelaide Mortgage Broker Guide.

Adelaide house prices have risen strongly and the good times look set to continue as South Australia rides the back of the commodities boom, stable population and low unemployment. So, whether it’s Albert Park, Beaumont, Glengowrie, McLaren Vale or Surrey Downs, Adelaide homeowners are reaping the rewards of their state’s strong economy.

Why use a Your Local Finance mortgage broker?
When you commit to a mortgage, you want to be sure you’re getting the best deal. But with so many banks and non-bank lenders offering home loan products, the task of choosing which product best suits your needs becomes a difficult one. This is precisely where your mortgage broker can help, by researching all the lenders for you and then following your mortgage from application and approval, right through to settlement - and the service doesn’t stop there. The Your Local Finance customer care program ensures your mortgage continues to be monitored post-settlement, and your mortgage broker will advise you of any relevant changes to your home loan product or those of its competitors. 

What documentation do I need to supply with my application?
Together with your chosen lender’s completed application form, full documentation loans also require applicants to provide evidence of income, savings and details of your purchase, refinance, construction or other purpose for which the loan is required. Therefore, documentation requirements depend on the type of home loan applied for and any special circumstances surrounding the application. Here are some common forms of documentation requested by lenders:

• Current pay slip plus last two group certificates; or
• Last two years personal and business tax returns and assessments for self-employed applicants
• Copies of the front page of the purchase contract  (for purchases)
• Last six months’ bank statements showing regular savings history (for purchases)
• Lease, rent appraisal or evidence of receipt of rental income (for investment properties)
• Last 12 months statements for existing home loan (for refinances)
•  Copy of plan, specifications and fixed price builder’s contract (for construction loans)

Apply for a home loan now.