Frequently asked Questions
The Ultra Prime product line is designed for borrowers with strong credit profiles. In order to qualify, borrowers must have a minimum credit score of 700, be a good PAYG borrower with no arrears or defaults. If your clients do not meet this criteria, we recommend checking out other Mortgage Street products or completing MSt 003 to find the best product for your clients’ unique needs and qualifications. This will ensure that your clients receive the best possible mortgage options for their individual circumstances.
The highest loan-to-value ratio (LVR) that can be obtained in Ultra Prime I is 75%. However, if your client is looking for a higher LVR, you can consider visiting Ultra Prime II & III or complete a MSt 003 on our website to see if your client qualifies for a higher LVR. It’s always worth checking our website to explore more options.
No, Ultra Prime products do not accept Interest Only repayments. Ultra Prime products only accept Principal & Interest repayment type. If your clients are looking for Interest Only repayment options, we recommend checking out other Mortgage Street products like Super Prime, Premium or completing MSt 003 to see if they qualify. For more information and to find the best product for your clients’ needs, visit our website.
Yes, Ultra Prime products only accept full time & permanent income, making it ideal for good PAYG borrowers, government employees and top 200 ASX employees. This strict requirement ensures that only the most creditworthy clients are eligible for the product. If you are interested in learning more about Ultra Prime products and how they can benefit your clients, visit our website and speak to one of Mortgage Street accredited mortgage brokers for more information.
The Ultra Prime product line is designed for borrowers with strong credit profiles. In order to qualify, borrowers must have a minimum credit score of 700, be a good PAYG borrower with no arrears or defaults. If your clients do not meet this criteria, we recommend checking out other Mortgage Street products or completing MSt 003 to find the best product for your clients’ unique needs and qualifications. This will ensure that your clients receive the best possible mortgage options for their individual circumstances.
Progressive can lend borrowers up to $1,000,000 per single security . If your clients are looking for a higher loan amount, you can complete MSt 003 to see if your clients qualify for a higher loan amount. Don’t miss this opportunity to offer your clients the best options available, visit our website now to learn more.
The maximum exposure per obligor for Progressive products is $12,000,000. However, if your client is looking for a higher amount, you can consider visiting our good borrower products such as Ultra prime, Super Prime, Premium & Optimax or complete a MSt 003 on our website to see if your client qualifies for a higher maximum exposure amount. It’s always worth checking our website to explore more options.
The highest loan-to-value ratio (LVR) that can be obtained in Progressive products is 80%. However, if your client is looking for a higher LVR, you can consider visiting our good borrower products such as Ultra prime, Super Prime, Premium & Optimax or complete a MSt 003 on our website to see if your client qualifies for a higher LVR. It’s always worth checking our website to explore more options.
The maximum loan-to-value ratio (LVR) that your clients can obtain in Tolerant products is 80%. However, if your clients are looking for a higher LVR, they can complete MSt 003 to check if they qualify for a higher LVR. For more detailed information and other loan options, please visit our website.The minimum credit score required for Progressive products is 350, which makes it a very good option for borrowers with a low credit score. This is a great option for those who have had trouble obtaining a loan in the past and are looking to improve their credit. If you or your clients have any questions, visit our website for more information and to explore all the options available.
The minimum internal living space excluding balconies, garages & car spaces for Progressive products is 30m 2 for units located in high demand capital city metropolitan areas, while it is minimum internal living space of 40m 2 for units outside of these areas. If you or your clients have any questions, visit our website for more information and to explore all the options available.
For our Super Prime product, the minimum credit score is 700 for all borrowers. However, it’s important to note that a good credit score is just one factor in the loan approval process and having a high credit score does not guarantee approval. Factors such as income, employment, and debt-to- income ratio are also considered.
The Super Prime product offers no mortgage insurance for loans with LVR to 80%. This means that your clients can avoid the added cost and hassle of mortgage insurance if they have a down payment of at least 20% of the property value. However, it’s important to note that different lenders may have different LVR requirements for loans with no mortgage insurance, and not all lenders offer this type of loan. Additionally, having a higher LVR may result in a higher interest rate. more options.
The risk fee for our clients varies depending on their specific loan and credit situation. Risk fee may apply to our specialist loans but the loans for good borrowers do not attract a risk fee e.g. Super Prime. We reserve this option for our most financially secure clients with excellent credit and a strong debt-to- income ratio.
We understand that every client’s needs are unique, and we dedicate an experienced team of Mortgage Street accredited mortgage brokers to finding the best loan options for each individual. On our website, you can learn more about the various loan options we offer and even use our online tools to calculate your estimated risk fee. So, visit our website today to learn more and take the first step towards securing your dream home.
The maximum loan amount that our clients can borrow varies depending on their specific loan and credit situation. However, for our Super Prime loan option, clients can borrow up to $1,000,000.00 per single security in metro postcodes. This option is reserved for our most financially secure clients with excellent credit and a strong debt-to-income ratio.
We understand that every client’s needs are unique and that’s why we offer a wide range of loan options, with varying maximum loan amounts. On our website, you can learn more about the various loan options we offer, including information on the maximum loan amount for each option. Additionally, you can use our online tools to calculate your estimated maximum loan amount. So, visit our website today to learn more and take the first step towards securing your dream home.
We offer a variety of repayment options for our clients to choose from, including monthly, fortnightly, and weekly payments. This flexibility allows our clients to choose the option that best fits their budget and financial situation.
Our repayment options are designed to be as flexible as possible to suit the needs of our clients. On our website, you can learn more about the various repayment options we offer, including information on the advantages and disadvantages of each option. Additionally, you can use our online tools to calculate your estimated repayment schedule based on your chosen option.
The maximum loan amount that your clients can borrow under Liberal is $1,000,000 per single security. However, if your clients are looking for a higher loan amount, it’s best for them to complete MSt 003 to explore higher loan options. For more information on loan options, visit our website and speak to one of a Mortgage Street accredited mortgage brokers who can guide you through the process.
The highest loan-to-value ratio (LVR) that your clients can obtain in Liberal products is 80%. If your clients are seeking a higher LVR, they should check out our Good Borrowers products (Ultra Prime, Super Prime, Premium & Optimax) or complete MSt 003 to see if they qualify for a higher LVR. Visit our website to learn more about the loan options available to your clients and how to apply for them.
Liberal products can accommodate a strata apartment as small as 30m 2 , which is a great option for clients who are looking for a small apartment, unlike other traditional home loans. If you have clients who are looking to purchase a 30m 2 strata apartment, our Liberal products can be a great fit for them. To learn more about our Liberal products and how they can help your clients, visit our website today.
With our Liberal products, there is no risk fee required for LVR up to 70%. This can be a great option for your clients who are looking for a home loan with a lower risk fee & they can enjoy extra savings when borrowing with our Liberal products. To learn more about our Liberal products and how they can help your clients, visit our website today.
The ideal time for your clients to apply for a second mortgage with our Liberal products is when they need to borrow more than 80% LVR and if your clients apply for a second mortgage together with the first. The application process for a second mortgage is easy, your clients can simply complete MSt 003 to check if a second mortgage is needed. To learn more about our second mortgage options and how they can help your clients, visit our website today.
The maximum loan amount that your clients can borrow under Receptive is $1,000,000 per single security. However, if your clients are looking for a higher loan amount, it’s best for them to complete MSt 003 to explore higher loan options. For more information on loan options, visit our website and speak to one of a Mortgage Street accredited mortgage brokers who can guide you through the process..
The maximum exposure per obligor for Receptive products is $12,000,000. However, if your client is looking for a higher amount, you can consider visiting our good borrower products such as Ultra prime, Super Prime, Premium & Optimax or complete a MSt 003 on our website to see if your client qualifies for a higher maximum exposure amount. It’s always worth checking our website to explore more options.
The highest loan-to-value ratio (LVR) that your clients can obtain in Receptive products is 80%. If your clients are seeking a higher LVR, they should check out our Good Borrowers products (Ultra Prime, Super Prime, Premium & Optimax) or complete MSt 003 to see if they qualify for a higher LVR. Visit our website to learn more about the loan options available to your clients and how to apply for them.
The minimum credit score accepted in Receptive products is a very low credit score, less than 350. Visit our website to learn more about the loan options available to borrowers with low credit scores and how to apply for them.
Receptive can assist borrowers who have been discharged from bankruptcy for a minimum of 6 months. However, if you have a client who has been discharged for less than 6 months, they may want to check Receptive for more flexible options. Visit our website to learn more about the loan options available to borrowers who have been discharged from bankruptcy and how to apply for them.
Interest rates for relocation loans can vary depending on the specific terms of the loan. We currently offer only variable rates for our relocation loans. The interest rate that you’ll receive on a relocation loan is based on a variety of factors, including the loan amount, the loan-to-value ratio, and the creditworthiness of the borrower. To ensure that you receive the most accurate and competitive rate, we recommend completing our MSt 003 form.
It’s important to keep in mind that interest rates can change frequently, so it’s a good idea to check with us regularly to ensure that you’re getting the best rate possible. Remember, as a mortgage broker, you can complete our MSt 003 form for any of your clients looking for a relocation loan. This will enable you to provide them with the most up-to-date and accurate rate available, and that can make all the difference when it comes to deciding about relocating. By providing you with the competitive rates for relocation loans, we are confident that you will find working with us is a seamless experience, and you will want to come back to us for your next client’s relocation loan needs.
The terms and conditions for a relocation loan can vary depending on the specific loan product. Our relocation loans have a maximum loan term of 18 months for the purchase of a property, 24 months for construction, or on sale of the initial property. We structure the loan in two parts; a Transitional portion and a Residual portion. The Transitional portion is used to support the original property that the borrower will vacate, while the Residual portion is used to support the acquisition of the new property. Borrowers make monthly repayments, which can be either interest only or principal and interest, for the loan supporting the original property (the Transitional portion).
Interest on the loan supporting the original property (the Transitional portion) is capitalised on the loan supporting the acquisition of the new property (the Residual portion) for the term of the Transitional portion. This allows the borrower to have access to the funds for the new property while they are still selling their original property. This is a unique feature of our relocation loan and can make it a great option for borrowers looking to move to a new property while they still have an existing property. As a mortgage broker, we recommend you to visit our relocation loan page to know more about the detailed terms and conditions of our relocation loan, as well as to compare it to other loan options and to find the one that best suits your client’s needs.
Yes, there are generally fees associated with a relocation loan. These fees can vary depending on specific requirements and circumstances. At Mortgage Street, our relocation loan fees are generally $995.
It is important to keep in mind that these fees may be different depending on the type of loan; the amount being borrowed and other factors. It is always best to check with a mortgage broker to understand the specific fees associated with your loan.
At Mortgage Street, we understand that every customer’s situation is unique, and we work closely with our customers to ensure that they have all the information they need to make an informed decision. To learn more about the fees associated with a relocation loan and other loan options, visit our website or reach out to one of our accredited mortgage brokers today.
The process for loan refinancing and whether it is possible to refinance a relocation loan during the period of the loan can vary depending on the specific loan product. It is possible to refinance a relocation loan during the period of the loan. However, as with any loan refinancing, there are certain criteria that need to be met. Borrowers will be assessed based on their current financial status, credit history, and the loan terms they are looking to refinance into. We recommend you visit our website to learn more about the specific requirements and processes for refinancing a relocation loan with us
Additionally, you can also talk with our accredited mortgage brokers who will be more than happy to provide the details and answer any further questions. This way you will be well equipped to advise your clients about refinancing options available for them with us.
We, Mortgage Street, made the process for application and underwriting for a relocation loan simple and streamlined. The first step is to complete our MSt 003 form. This form will provide us with all the information we need to get the application process started. The MSt 003 form is designed to be easy to complete, and it will help to ensure that all of the necessary information is provided in a clear and concise manner. Once we receive the completed MSt 003 form, one of our accredited mortgage brokers will review the application and will be in touch to guide you through the next steps of the process. We are committed to providing a fast and efficient service and we will work with you to ensure that your clients’ applications are processed as quickly as possible. As a mortgage broker, you can visit our website to learn more about the detailed process of application and underwriting for a relocation loan with Mortgage Street, as well as to find more information about other products and services that we offer.
The maximum loan amount for a relocation loan is $5,000,000. The loan-to-value ratio (LVR) for a relocation loan will depend on the type of loan and the documentation provided by the borrower. For full documentation loans, the maximum LVR is 85% of the combined value of the properties, while for alternative documentation (alt-doc) loans, the maximum LVR is 80% and the maximum loan amount $3,000,000. It’s important to note that the LVR and loan amount may also be affected by other factors, such as the creditworthiness of the borrower, the specific loan product, and the overall market conditions. As a mortgage broker, we recommend you to visit our relocation loan page to learn more about the specific LVR and loan amount requirements and how they may affect your clients’ relocation loan. Our accredited mortgage brokers are always on hand to assist you and your clients with any questions or concerns regarding the maximum loan amount and loan-to-value ratio for a relocation loan.
The typical time frame for loan settlement can vary depending on the specific loan product and the type of documentation provided by the borrower. The turnaround time for loan settlement is usually 3-6 weeks from the date of a fully and comprehensively completed application. However, it’s important to note that the loan settlement time frame may be affected by external factors such as property valuations and legal requirements. It’s a good idea for the mortgage broker and the client to discuss the potential timeline for loan settlement, considering the specific circumstances of the client and the requirements of the loan product. By providing a comprehensive application and having all the necessary documentation ready, the settlement process can be expedited. As a mortgage broker, you are encouraged to visit our relocation loan page to learn more about the specific time frame and settlement process for relocation loans, as well as to find more information about other products and services that we offer. We are committed to providing you and your clients with a fast and efficient service and we will always strive to have your loan settled as soon as possible.
Generally, relocation loans are in a variable rate, and at Mortgage Street, we do not charge a penalty for paying off a variable relocation loan early. This means that if you decide to pay off your loan before the end of the loan term, you may not be subject to any additional fees.
It’s always important to read the fine print and understand the terms of your loan before signing on the dotted line. Our website offers a wealth of information on relocation loans and mortgage options, including how to avoid unnecessary fees. We have the resources and expertise to help you make the best decisions for your financial situation. Visit our website to learn more and find the perfect loan for your needs.
The maximum loan-to-value ratio (LVR) that your clients can obtain with Optimax is 95%. This high LVR allows your clients to access more financing for their property purchases or refinances. However, it’s important to note that high LVR loans come with a higher risk for the lender and therefore, the terms of these loans may be different. If you want to learn more about Optimax and the terms and conditions that come with it, please visit our website.
The highest loan-to-value ratio (LVR) that your clients can obtain with Optimax is 85%. While this LVR may be lower than some other options, Optimax offers more flexible terms and conditions that can better suit the needs of your clients. If you want to learn more about Optimax and how it can benefit your clients, please visit our website for more information. You’ll find more details about the product and how it compares to other options available on the market, making it easier for you to advise your clients.
The maximum loan amount that your clients can borrow with Optimax is $1,000,000 per single security . This high loan amount can provide your clients with the financing they need to purchase or refinance their property, whether it’s a residential or commercial property. However, it’s important to note that the loan amount will also depend on your client’s income, credit history, and the property’s value. If your clients are looking to borrow more than $1,000,000, it is best to complete MSt 003 to see their borrowing capacity. If you’re interested in learning more about the terms and conditions of Optimax or want to know if your client would qualify, please visit our website for more information.
The maximum loan amount that your clients can borrow with Optimax is $5,000,000 per single security, this high loan amount can provide your clients with the financing they need to purchase or refinance their property, whether it’s a residential or commercial property. However, it’s important to note that the loan amount will also depend on your client’s income, credit history, and the property’s value. If you’re interested in learning more about the terms and conditions of Optimax or want to know if your client would qualify, please visit our website for more information. You will find more details about the product and its features, as well as the requirements and the comparison with other loan options, making it easier for you to advise your clients. available.
Yes, Optimax products can accept Alt doc for GST registration. This means that if you are a mortgage broker looking for a GST-compliant solution, Optimax has you covered. Our products are designed to be flexible and adaptable to you & your customers’ needs, and we are proud to offer Alt doc as an option. We understand that every business is unique, and we strive to provide a tailored solution that meets you & your customers’ specific requirements. So, if you are interested in learning more about how Optimax can help your business, please visit our website to see what we have to offer. You’ll find that our products are innovative and user-friendly, making them a great choice for any mortgage broker looking to streamline their GST compliance process.
The minimum credit score required for Optimax products is 700. However, if your clients have a credit score below 700, we recommend they complete a MSt 003 to determine which product is right for them. This is because a credit score of 700 and above shows that the borrower has a good credit history, which is an important factor in determining loan eligibility. However, there may be other loan options available to them.
If you are a mortgage broker interested in learning more about our credit requirements, please visit our website for more information. We have a team of experts who can help you understand our credit requirements and assist you in finding the best loan option for your clients, even if they have credit score below 700.
Yes, Optimax products accept equity line of credit as a facility type. This means that if you are a mortgage broker working with clients who are interested in using their home equity to secure a line of credit, Optimax has a solution for you. Our products are flexible and adaptable to your clients’ needs, and we are proud to offer equity line of credit as an option.
If you are interested in learning more about how Optimax can help your clients with equity line of credit, please visit our website to see what we offer. You’ll find that our products are innovative and user- friendly, making them a great choice for any mortgage broker looking to offer equity line of credit to their clients.
The maximum interest-only repayment period for Optimax products is 10 years. This means that for the first 10 years of the loan, borrowers only have to pay the interest on the loan, rather than paying off any of the principal. This can make their monthly payments more manageable, especially for those who are looking for a short-term solution or have fluctuating income. However, it’s important to note that interest-only payments can be more expensive in the long run, as the entire loan amount will still need to be paid off, eventually. At Mortgage Street, we have a team of experienced mortgage brokers that
can help you understand the pros and cons of interest-only payments and help you find the best solution for your financial situation.
Yes, Optimax products do accept rural residential properties. However, financing a rural residential property can be a bit more complex than financing a traditional urban property, as there are often unique considerations such as zoning and land use regulations. Contact Mortgage Street’s accredited mortgage brokers to learn more about how we can help you secure a loan for your rural residential property.
Yes, Optimax products do accept rural residential properties. However, financing a rural residential property can be a bit more complex than financing a traditional urban property, as there are often unique considerations such as zoning and land use regulations. Contact Mortgage Street’s accredited mortgage brokers to learn more about how we can help you secure a loan for your rural residential property.
The maximum loan amount for Tolerant is $1,000,000 per single security. As a mortgage broker, you have the opportunity to help your clients access some of the highest loan amounts available in the market. With Tolerant , you can assist your clients in securing loans for their dream properties and help them achieve their financial goals. However, this is just a brief information, to explore more about the loan products, terms and conditions, fees, and other important details, visit our website and learn more.
The maximum exposure per obligor for Tolerant products is $12,000,000. However, if your clients are seeking a higher amount, they may want to consider our Good Borrowers products such as Ultra Prime, Super Prime, Premium or Optimax, or complete the MSt 003 form to see if they qualify for a higher amount exposure. For more detailed information and other loan options, please visit our website.
The minimum credit score required for Tolerant products is 500. This is a good option for borrowers with less-credit-score. However, if your clients have a much lower credit score, you may want to consider checking our Progressive, Liberal & Receptive products, or complete a MSt 003 to see what products are right for them. For more detailed information and other loan options, please visit our website.
The maximum loan-to-value ratio (LVR) that your clients can obtain in Tolerant products is 80%. However, if your clients are looking for a higher LVR, they can complete MSt 003 to check if they qualify for a higher LVR. For more detailed information and other loan options, please visit our website.
Yes, Tolerant products do accept Island location capital postcode 1 for completed properties. If your clients are looking to purchase or refinance a completed property in an island location, Tolerant products may be a good option for them. For more detailed information and other loan options, please visit our website.
Yes, our Premium products do accept equity line of credit as a facility type. This means that mortgage brokers can offer their clients the option to use the equity in their home as collateral for a line of credit. This can be a useful tool for homeowners who need access to funds for home improvements, debt consolidation, or other expenses.
Additionally, using an equity line of credit can also potentially save homeowners money on interest rates compared to other types of loans. It’s a flexible and efficient way to access the equity you’ve built in your home, and it’s available as an option for our premium products. If you’re a mortgage broker looking to offer your clients more options and flexibility, be sure to check out our website to learn more about the benefits of our premium products.
The maximum interest only repayment period for our Premium products is up to 10 years. This means that mortgage brokers can offer their clients the option to only pay the interest on their loan for up to 10 years, before transitioning to principal and interest payments. This can be a useful tool for homeowners who want to keep their monthly payments lower in the short-term, but still have the option to pay off the principal of the loan over time.
Also, it’s important to note that interest-only payments can also help to qualify for a larger loan, as the lower payments can increase the debt-to-income ratio. This can be a useful strategy for homeowners who want to purchase a more expensive home, or who want to refinance their current home. If you’re a mortgage broker looking to offer your clients more options and flexibility, be sure to check out our website to learn more about the benefits of our premium products and the specific interest only repayment period available.
Our premium products do not have a maximum number of dependents, allowing flexibility and consideration of individual client’s circumstances. This means that mortgage brokers can offer their clients the option to include dependents such as children, elderly parents or disabled dependents in their loan application.
This can be a useful tool for homeowners who have a large family or are supporting other dependents financially. However, it’s important to note that having more dependents can affect the borrower’s debt-to-income ratio and may require additional documentation. That’s why it’s important to check with our lender in advance to ensure that the dependents are acceptable.
If you’re a mortgage broker looking to offer your clients more options and flexibility, be sure to check out our website to learn more about the benefits of our premium products and the specific dependents policy available. With our Premium products, we strive to provide our clients with more options and to help them achieve their goals.
The postcodes that are currently eligible for our Premium products are majority of Australian postcodes. This means that mortgage brokers can offer their clients the option to purchase or refinance a property in these postcodes with our premium products. These postcodes are typically considered more stable markets and have a good potential for growth.
However, it’s important to note that some postcodes that are not on this category, such as island locations, may not be eligible for our premium products. In this case, it’s recommended that you reach out to a Mortgage Street accredited mortgage broker to check what product will it fall under. We want to make sure that you & your clients have access to the best possible options for their needs. If you’re a mortgage broker looking to offer your clients more options and flexibility, be sure to check out our website to learn more about the benefits of our premium products and the specific postcode policy available.
The highest loan-to-value ratio (LVR) that a borrower can obtain in our Premium product is up to 95%. This means that mortgage brokers can offer their clients the option to borrow up to 95% of the value of the property they are looking to purchase or refinance. This high LVR ratio can be a useful tool for borrowers who have limited funds for a down payment or who want to borrow more to purchase a more expensive property.
It’s important to note that the LVR ratio can also affect the interest rate and the overall cost of the loan. With a higher LVR, the interest rate tend to be higher than a lower LVR, so it’s important to consider the borrower’s financial situation and the overall cost of the loan.
If you’re a mortgage broker looking to offer your clients more options and flexibility, be sure to check out our website to learn more about the benefits of our premium products and the specific LVR policy available. We strive to provide our clients with more options to help them achieve their goals.
