Do I have to pay Vitality Finance to set up my home loans?
No, we do not charge you a fee for our service. Vitality Finance is paid a commission by the lender for introducing your business. This does not negatively impact your fees or interest rate charged by the bank; in fact, we are often able to negotiate a better rate on your behalf.
Do Home Loans cost more if you get them from a broker instead of directly from a bank?
No. The costs are the same. From the bank’s perspective, whether it pays a broker or an employee, there is a cost associated with selling a home loan. The difference is the benefit to you – we can give you more choices than one bank as we deal with a panel of over 40 lenders.
What about bank fees?
All lenders’ fees vary, but usually, you will have an application fee or an annual package fee; government mortgage registration fees; bank cheque fees for settlement, and occasionally valuation fees may apply. We will fully disclose to you as part of our recommendation any upfront and ongoing fees and charges from the lender. Part of our service is to find the most competitive offer available for our clients.
Do you offer appointments after hours?
Vitality Finance will be happy to meet with you at a time convenient for you! Our centrally located office in South Perth is the perfect place to meet, or we can arrange to come to your work or home if needed. Please note that evening and weekend appointments are always popular, so you may need to book ahead.
Can Vitality Finance provide pre-approval finance?
Vitality Finance can assist in obtaining pre-approval from the selected lender. This is basically where we provide the lender with your financial information to ascertain your eligibility. It can be a powerful tool when negotiating on a property purchase, as the vendor will often consider this if multiple offers are presented.
How long does the application process take?
The timeframe will vary depending on the complexity of the application. In most cases, it will take up to 2 weeks to obtain finance approval provided all required documents are submitted with the initial application. See the “loan application process” page for more details.
Do I still need to go into the bank?
In most cases, no. As your broker, we liaise directly with the lender as your appointed representative. This removes the frustration for you of dealing with the banks in limited time. We have access to online application information and tracking systems and have dedicated contact points to assist with our calls. Vitality Finance will keep you informed throughout the entire process via SMS, email, and phone.
What happens after the loan settles?
Vitality Finance has a client for life philosophy. This means we are there for our clients not only through the application and settlement process but also beyond that throughout the life of your loan. We are your direct contact anytime you have questions relating to existing or new loans. We will continue to keep in touch with relevant information through our quarterly newsletter and RBA rate announcements conveniently sent to you via email. If this prompts a question from you, simply reply to the email. You can also unsubscribe from these emails at any time.