Plenty can advise you on either lowering the rate of your existing mortgage or helping you find the right mortgage for your next property.
Think of us as your digital mortgage broker.
We work with a panel of over 20 lenders and have no affiliation with any major bank - this means our only goal is to find the mortgage that best suits you given your goals and financial situation.
Through the provision of your very own financial roadmap, we also know more about your financial situation than any other mortgage broker out there - this allows us to shop around and find you the perfect mortgage for your situation.
While we may deliver your roadmap digitally - we understand that a mortgage is a big financial decision and that is why we give you the ability to have a video meeting with one of our top mortgage brokers. You can have this meeting from your home in your pyjamas, your car (although wouldn't recommend it while driving), on holiday or anytime that is convenient for you. Below we break down some of the differences between Plenty and traditional mortgage brokers:
The job of Plenty is to choose the best loan for the property you want to purchase.
To pick the best loan we will consider your deposit, the cost of the property you want to buy, your income and your expenses. We will also dig deeper to understand the features of the loan that are important to you (i.e fixed rate, offset account, interest only etc.).
We then take this information to understand how much you can borrow and shop around to find you a loan that meets your parameters at the lowest interest rate possible.
Since Plenty already has all your relevant information, we are the best mortgage broker to assess situation quickly and easily getting you the best mortgage in the quickest timeframe possible.
Banks are very well known for increasing rates on their existing customers without them knowing. This is an expensive exercise that can end up costing you thousands of dollars per year.
Plenty gets direct (secure) feeds from your bank so we know exactly what your rate is at all time - our mortgage brokers monitor your interest rates and keep you updated if your rates change unexpectedly. We can then shop around and help get you into a better, cheaper product.
Unlike other mortgage brokers out there, Plenty is also a financial advice platform. This means we can help assess if you are ready to buy a property and, if not, we can help you save and invest diligently to get to your deposit sooner.
Plenty's budgeting capabilities means that if your goal is to buy a property in 3 years' time, we can show you exactly what you are spending at the moment and what you need to spend to get that home.
Additionally, Plenty's investment advice will help you save and invest your money in the best way possible to ensure you reach your deposit target as quick as possible.
The alternatives of using a broker are going directly to a bank or an online lender. Mortgage Brokers can provide a valuable service - that is why over 50% of home loans in Australia are done through the broker channel.
Brokers will compare loans from multiple lenders (Plenty considers products from over 20 lenders when choosing your loan) this compares to a bank who will only consider their own products when you see them.
Brokers can also assess which lenders will lend you the most money which is very valuable in times like now when banks are tightening their policies. They can also make the application process a lot smoother and can be better at handling complex lending situations (i.e self-employed, credit defaults etc).