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AT KEY CHANGE FINANCE, OUR ROLE AS MORTGAGE BROKERS IS TO UNDERSTAND YOUR SHORT- AND LONG-TERM GOALS AND PROVIDE YOU WITH THE RIGHT FINANCE OPTIONS TAILORED TO MEET YOUR NEEDS AND OBJECTIVES. 

OUR SERVICES

Our Services

We pride ourselves in providing our customers with an exceptional level of service, keeping you informed throughout your loan journey and making ourselves available to answer your questions.

 

We also understand that your circumstances and financial goals change over time so we will conduct an annual financial health check to ensure you are always in a sound financial position.

  • WHAT IS LENDERS MORTGAGE INSURANCE?
    Lenders’ Mortgage Insurance (LMI) is a one-off insurance premium that is added to your home loan to protect the lender against the loss if you’re unable to meet your repayments and needed to sell your home. When your home is sold and it’s sold for less than the loan balance, LMI will cover the lender for the difference. Lenders Mortgage Insurance Fact Sheet
  • WHAT IS A FAMILY GUARANTEE
    These arrangements are commonly made between a parent and their child. Generally, the borrower will have sufficient income to service the loan. However, in most cases they will not have the funds to put toward a deposit and therefore will not meet the genuine savings requirements of most lenders. The guarantor simply provides their property as security for the borrowers loan. Given the high percentage of the property value that the bank is loaning out to the borrower, the added security helps reduce the risk to the lender. First Home Buyers Family Pledge Fact Sheet
  • WHAT ARE THE BENEFITS OF A REDRAW OR OFFSET ACCOUNT
    Both offset accounts and redraw facilities: - help you reduce the amount of interest you pay on your loan. - help you pay off your loan quicker. - are typically available on most standard variable-rate loans. An offset account is a transaction account that is linked to your home loan, but it functions as a regular everyday account, allowing you to withdraw money from ATMs and buy things using a debit card. For instance, if you have a $500,000 home loan with a 2.8% interest rate and an offset account with a $50,000 balance, your mortgage rate will be charged on only $450,000 of your home loan. Some products offer only a partial offset. You can have your employer deposit your salary into the offset account and you can transfer money in from other accounts. A redraw facility will help you pay off your loan faster if you keep the funds untouched in the account. You can also make a lump-sum repayment towards your loan when you use your redraw facility. The funds in your redraw will reduce the principal ahead of your regular repayment schedule. Making extra repayments can decrease the length of your loan and how much interest you pay. The ability to redraw money can be beneficial in emergencies. Most low-rate home loans offer redraw facilities. Some lenders provide unlimited free redraws. Money stored in a redraw facility isn’t taxed. Offset Account & Redraw Facilities Fact Sheet
  • IS THE CURRENT RATE I AM PAYING TO HIGH?
    Its worth being aware of the rate you’re currently paying on your mortgage as there’s a good chance that there’s a better rate available. Keeping in touch with a mortgage broker, or even simply observing advertisements on TV can give you an idea of the current market rates out there. If you are repaying your loan with principle and interest repayments, the interest rate is lower with most financial institutions compared to repaying your loan with interest only repayments. Interest Only Fact Sheet
  • SHOULD I HAVE A FIXED OR VARIABLE RATE?
    A variable home loan means that the rate you pay is subject to change concurrently to market conditions. Variable Rate Loan Fact Sheet A fixed interest rate offers you the protection of locking in a rate for a certain period, meaning that you are protected against any unfavourable movements. Fixed Rate Loan Fact Sheet A split loan means you have a portion of your debt fixed and a portion of your debt variable. Split Loan Fact Sheet
  • HOW CAN I ACCESS EQUITY IN MY PROPERTY
    At Key Change Finance, we may help you access equity in your property for any purpose. Provided you have the means to service the added loan amount, a mortgage broker will be able to release any amount of equity you wish.
  • WHAT'S GOOD ABOUT A CREDIT CARD?
    Credit cards can be a convenient way to manage your finances, but they can also be expensive and risky. If you're deciding whether or not a credit card is right for you, our credit card fact sheet will give you some of the things you should consider.

FREQUENTLY ASKED QUESTIONS

  • WHAT IS LENDERS MORTGAGE INSURANCE?
    Lenders’ Mortgage Insurance (LMI) is a one-off insurance premium that is added to your home loan to protect the lender against the loss if you’re unable to meet your repayments and needed to sell your home. When your home is sold and it’s sold for less than the loan balance, LMI will cover the lender for the difference. Lenders Mortgage Insurance Fact Sheet
  • WHAT IS A FAMILY GUARANTEE
    These arrangements are commonly made between a parent and their child. Generally, the borrower will have sufficient income to service the loan. However, in most cases they will not have the funds to put toward a deposit and therefore will not meet the genuine savings requirements of most lenders. The guarantor simply provides their property as security for the borrowers loan. Given the high percentage of the property value that the bank is loaning out to the borrower, the added security helps reduce the risk to the lender. First Home Buyers Family Pledge Fact Sheet
  • WHAT ARE THE BENEFITS OF A REDRAW OR OFFSET ACCOUNT
    Both offset accounts and redraw facilities: - help you reduce the amount of interest you pay on your loan. - help you pay off your loan quicker. - are typically available on most standard variable-rate loans. An offset account is a transaction account that is linked to your home loan, but it functions as a regular everyday account, allowing you to withdraw money from ATMs and buy things using a debit card. For instance, if you have a $500,000 home loan with a 2.8% interest rate and an offset account with a $50,000 balance, your mortgage rate will be charged on only $450,000 of your home loan. Some products offer only a partial offset. You can have your employer deposit your salary into the offset account and you can transfer money in from other accounts. A redraw facility will help you pay off your loan faster if you keep the funds untouched in the account. You can also make a lump-sum repayment towards your loan when you use your redraw facility. The funds in your redraw will reduce the principal ahead of your regular repayment schedule. Making extra repayments can decrease the length of your loan and how much interest you pay. The ability to redraw money can be beneficial in emergencies. Most low-rate home loans offer redraw facilities. Some lenders provide unlimited free redraws. Money stored in a redraw facility isn’t taxed. Offset Account & Redraw Facilities Fact Sheet
  • IS THE CURRENT RATE I AM PAYING TO HIGH?
    Its worth being aware of the rate you’re currently paying on your mortgage as there’s a good chance that there’s a better rate available. Keeping in touch with a mortgage broker, or even simply observing advertisements on TV can give you an idea of the current market rates out there. If you are repaying your loan with principle and interest repayments, the interest rate is lower with most financial institutions compared to repaying your loan with interest only repayments. Interest Only Fact Sheet
  • SHOULD I HAVE A FIXED OR VARIABLE RATE?
    A variable home loan means that the rate you pay is subject to change concurrently to market conditions. Variable Rate Loan Fact Sheet A fixed interest rate offers you the protection of locking in a rate for a certain period, meaning that you are protected against any unfavourable movements. Fixed Rate Loan Fact Sheet A split loan means you have a portion of your debt fixed and a portion of your debt variable. Split Loan Fact Sheet
  • HOW CAN I ACCESS EQUITY IN MY PROPERTY
    At Key Change Finance, we may help you access equity in your property for any purpose. Provided you have the means to service the added loan amount, a mortgage broker will be able to release any amount of equity you wish.
  • WHAT'S GOOD ABOUT A CREDIT CARD?
    Credit cards can be a convenient way to manage your finances, but they can also be expensive and risky. If you're deciding whether or not a credit card is right for you, our credit card fact sheet will give you some of the things you should consider.
Disclaimer: your full financial needs and requirements need to be assessed prior to any offer of acceptance of a loan product.
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