Mortgage broker fact sheet
A broker referring a client to HomeSec needs four things: an active ABN, a business or investment purpose for the funds, Australian real property with sufficient equity, and a credible exit. Financial statements, tax returns, BAS lodgement and a clean credit file are not required. A scenario sent before lunch gets indicative terms before close of business.
Everything a broker needs to place a file with HomeSec, on one page. If it takes longer than four lines to send us a scenario, we have made it too hard.
What we lend
$20,000 to $5,000,000, secured against Australian real property — residential, commercial, industrial, rural residential or vacant land. First or second position on the title. Combined LVR to 80% on residential security, 70% on commercial. Metropolitan, regional and rural: we lend well outside the capital cities, which is where a lot of files placed with us have already been declined once.
Business and investment purposes only.
What we need from a scenario
- Amount and purpose. What the client needs and what it is for.
- Security. Property type, rough value, and what is owed against it.
- The exit. How it gets repaid, and whether that is documented or intended.
- The deadline. If there is one, put it on the first line.
Send it before lunch and you will have indicative terms before close. Not a submission queue — a Lending Manager.
What we do not need
Financial statements. Tax returns. BAS lodgement. Cash flow records. A trading history — no minimum period, and we fund start-ups. A clean credit file: defaults, arrears, judgments and an outstanding ATO debt are not disqualifying. A sworn valuation, ever.
Speed
A conditional answer on the first call. Letter of Offer within two business hours. Contracts within four. Cleared funds within 24 hours of signing on a caveat, 24 to 72 hours on a registered second mortgage where the first mortgagee’s consent is required.
The term is open
No minimum, no maximum, no penalty for repaying early, no fee to extend. Worth knowing because it changes what you can promise a client: if their settlement slips, it is a phone call rather than a default. It also means trail arrangements on extensions are set out explicitly rather than left to interpretation.
Accreditation
No accreditation fee. No minimum volume. No exclusivity. A form and a conversation, not a panel review. Commission and trail published up front.
When to send it to someone else
If there is no property equity, we cannot help and an unsecured cash-flow lender may be able to. If the client needs a revolving facility, that is a line of credit and we write term loans. If the business is losing money structurally, borrowing against the family home makes the outcome worse and we will decline it — we would rather tell you that on the first call than three days in.
Reviewed by Catriona Anderson, General Manager