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Six things to take to your appointment with a mortgage broker

Appointment With A Mortgage Broker

If you’ve reached a family law property settlement and you are going to be refinancing a property into your sole name, or you need to obtain finance to make a payment to your ex, you may need to make an appointment with a mortgage broker.

A mortgage broker can help you with an assessment of whether a new or increased loan is affordable and whether this can be demonstrated to a new or existing financial institution.

To help you get prepared for the appointment, and to get the most out of your meeting, we’ve prepared this handy checklist of documents your mortgage broker may need in order to assess your ability to obtain finance:

  1. For employees, your last two payslips and last annual PAYG summary.
  2. Your bank statements for the last 3-6 months.
  3. An estimate of your monthly living expenses.
  4. Details of your existing assets and liabilities.
  5. The amount you are required to pay the other party.
  6. A copy of the Financial Agreement or Court Orders (if already made).

We recommend you make an appointment with a mortgage broker before you make an offer to the other party, or before you sign off on any agreement, to ensure that you can borrow the amount you need.

Generally, there is no fee to speak to a mortgage broker as they are usually paid by the institution at the end of the process.

As part of our involvement with the Lake Macquarie Business Hub, we can recommend the Hub’s mortgage broker, Tony Pereira of Lake Macquarie Financial Planning, to provide you with expert advice at the Hub’s Belmont office, or Tony’s office in Warners Bay.

Tony says, “There are many reasons people seek home finance and providing support without judgement when people are facing significant life changes is a big part of the job. We have been inspiring and supporting change in peoples’ lives for over 20 years and we are proud to support clients of Catherine Henry Lawyers find a way forward.”

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