WHO WE ARE
Established in 2001 Principal Mortgages has evolved to become a respected, no-nonsense mortgage broker which has a track record of negotiating deals for clients that are far superior to those available to the public.
Our brokers are all highly qualified individuals and are Approved Credit Adviser’s with the
Mortgage and Finance Association of Australia.
SOME OF OUR LENDERS
PRINCIPAL MORTGAGES ARE NOT RELIANT ON SPECIFIC LENDERS.
We will find you the lender with the most suitable combination of low interest rates,
low annual fees and no compromise of loan features.
APPLICATION PROCESS
Let us do the legwork by taking away the stress of applying
for your home loan
1. LOAN APPLICATION
Your Principal Mortgages broker will meet with you, discuss your options and assist you to select the most appropriate loan. Thereafter your broker will complete the application forms and submit the application to the lender.
2. CONDITIONAL APPROVAL
Once the application has been lodged the lender may request additional information. Thereafter they will either reject or approve your loan. A conditional approval is subject to a property valuation and any other conditions of the lender. Usually takes 5 days.
3. UNCONDITIONAL APPROVAL
Unconditional or formal approval is provided once the property has been valued and all other conditions have been met. This process usually takes 3 days after all the conditions have been met.
4. LOAN DOCUMENTS
Under normal circumstances, it will usually take 5 days until the lender sends a copy of the mortgage documents to either yourself or your conveyancer. Once you receive these documents you will need to sign them and return them to your lender within 5 days.
5. SETTLEMENT
Once your loan documents have been returned to the lender the lender will certify your file and will then book in settlement. At settlement, you will officially be granted the amount of the loan.
Call our team of experts on
LOANS
TESTIMONIALS
My experience of Principal Mortgages has been very good. The brokers are prompt and practical, always ready to suggest a commercial solution to the problem at hand. He is quick to identify the product features you require and presents a menu of possible loan products which meet the requirements. His loan product rates have always been better than those of a bank branch.
The broker from Principal Mortgages saved us $6,800 over a three year period by refinancing us from a major bank to an alternative lender where the interest rate was 0.5% less per annum. In addition Principal Mortgages paid the $750 of costs to move loans so it was a no brainer.
I look forward to the next refinance in a few years.
We found the broker from Principal Mortgages to be very different from our first experience using a mortgage broker. Firstly the broker was a qualified Chartered Accountant and his service was vastly more professional than our previous experience, most likely as a result of the broker generally dealing with professional clients. We were very impressed with his knowledge and ability to get the loan approved and settled in a very quick time period. We have already recommended the broker to many of our friends and would highly recommend Principal Mortgages to any person wanting a professional service.
Unlike our first experience with another mortgage broker we did not feel like the broker was pressurising us into a product that was most likely more beneficial for him than us. The broker explained to us how many mortgage brokers align themselves with one or two lenders so that they receive preferential treatment but this can often be to the detriment of the client as the interest rate is often not competitive. Our broker showed us a comparison of six lenders and explained the differences, he then recommended a product but allowed us to make the final decision. We felt very comfortable throughout the process and would definitely use Principal Mortgages again to either refinance or upgrade.
I would recommend the service of Principal Mortgages for the following reasons:
The broker was happy to use any lender as long as we were comfortable with the lender.
Principal Mortgages provided us a rebate of $750 because of the large size of our loan.
The broker negotiated an interest rate that was significantly lower than the quote from the branch.
Principal Mortgages, like any other business, was not perfect but I would recommend their service as they dealt with all my feedback promptly and in a satisfactory way. The NSW state manager was swift to respond to my emails and dealt with the problem straight away. Once the problem was resolved the process was efficient, the negotiated interest rate was brilliant and my interest savings are still being enjoyed.
I have used Principal Mortgages for two loans of more than $1m each and have been very impressed with the brokers knowledge of products and high level of service. The broker advised me of a fixed loan with a 100% offset feature, something no other broker had mentioned.