Your number one broker for home loans in Newcastle
Paying more than 3% on your home loan? Get a better rate
Home loan Mortgage Broker Newcastle
Looking to buy a house, unit, townhouse, acreage or building your very first home from the ground up? With so many home loan lenders and options available on the market, we understand that it can be difficult to determine whether or not you’re getting a competitive rate for your new home.
We’re here to tell you if you’re paying more than 3% on your home loan, potentially you can get a more competitive rate.
That’s where we come in. At Watson Mortgages, we help find a competitive product for your home loan in Newcastle, the Central Coast or the Hunter Region.
At Watson Mortgages, we help experienced and aspiring homeowners achieve their homeownership goals. Our mortgage brokers can find a competitive interest rate for your home loan — with more than 20 lenders to choose from and close partnerships with local financial planners, lawyers, and bankers, we will find a loan to suit your needs.
Contact us for more information or book an appointment with our Newcastle mortgage brokers today. We’ll help you find a competitive loan.
Our home loan process
- Data Collection
Once you have booked your initial meeting, we will send you a list of things to email through to us prior to your meeting or alternatively bring with you.
- Initial Interview
We get together to discuss you needs and answer any questions you may have.
- Home Loan Comparison
We review and negotiate competitive finance from our panel of 20 lenders and present you with options.
After you select your lender, we may require further documentation to prepare your home loan application.
Start hunting for your dream property. Pre-approval is subject to the property you find.
- Full Approval
Your lender will prepare your home loan agreement and send to us for review.
- Signing Documents
We meet with you to explain the home loan offer and sign.
We arrange a settlement date, liaising with your lender and conveyancer/solicitor.
- Post Settlement
We remain at your service should you have any additional needs in the future – such as top-ups, fixing, refinancing, or additional purchases.
Contact Watson Mortgages for an obligation-free consultation
Here are just a few benefits of choosing Watson Mortgages for a home loan in Newcastle:
- We have more than 20 lenders to choose from, meaning we’ll find a flexible home loan to suit your needs.
- We’ll manage the whole process from start to finish. We’ll help find the right loan, communicate with lenders on your behalf, submit documents and secure a loan, then provide ongoing services and support to make the repayment process clear.
- Our services are complimentary and convenient. Our brokers can meet at your location, or we can have a more formal meeting in our office.
- We’ll find a competitive interest rate on your home loan, so you can be confident when it comes to your monthly interest payments.
- We have the experience and knowledge to provide mortgage and debt consolidation advice, so you will feel supported and on top of things from day one.
Contact the team from Watson Mortgages for an obligation-free consultation today. We’re committed to achieving your homeownership goals.
Frequently asked questions
What loan is right for me?
We work with over 20 lenders with hundreds of products, so we are confident we can find a home loan to suit your needs. We will discuss with you if you would like features such as re-draw, offset, fixed, interest only, principal and interest, or combination of the above. Depending on your answers we will match you with a lender and home loan product that helps you achieve your goals.
How much can I borrow?
It depends on a range of factors such as your income, expenses, deposit and purchase price. The first step is to book a consultation with the team from Watson Mortgages — we can flesh out the details and determine how much you can borrow and a lender to suit.
What information will I need to provide?
In preparation for your meeting with our mortgage broker we ask that you have ready the following information.
- Identification – You will need to provide 100 points of ID. The most common forms of ID are:
Drivers Licence, Photo Card (NSW), Passport, Medicare, Birth Certificated, Proof of Citizenship (if applicable)
NB – if you have been married and changed your name or have been through a divorce that has led to a name change, we will require documents that show the trail of name changes.
- Proof of Income – To determine your affordability, lenders request you provide all that apply to your circumstances:
– PAYG income earner- Your most recent 3 payslips showing 3 months earnings
– Self Employed – ATO Notice of Assessment (within the last 18mths)
– Government Income (Centrelink) – Statement from Centrelink showing FTB, Disability Pension etc.
– Child Support Income -Statement form Child Support or if a private arrangement statements showing income paid into your account
- Assets – A list of the assets that you hold and may require conformation of this at a later stage (managed funds, shares, investment property).
- Bank Statements – please provide:
– Existing home/investment loans – 6 months of statements
– Credit cards/ interest Free debts – 3 months of statements
– Savings accounts – 6 months of statements
– Personal or car loans – 3 months of statements
To streamline this process we will send you an invite to use CashDeck. CashDeck is an online platform which links to your bank allowing you to electronically send us copies of your bank statements.
- Superannuation – copy of your most recent superannuation fund. If you have multiple funds, please provide statements for all funds.
If you cannot find a statement, please obtain approximate account balance, membership number, fund provider or risk profile.
- Insurance – Some lenders require evidence of insurance. If you have any of the following, please provide policy statements.
– Home and contents insurance
– Investment property insurance
– Income protection/ Life insurance
-Total and permanent disablement cover
– Trauma cover
- Liabilities – Any other expenses you may have such as child support.
Anything else you feel may be relevant.
What will the interest rate be?
Again, it depends on the lender and the type of home loan you go with depending on whether it is fixed, interest only, or principal and interest. With Watson Mortgages, our brokers will find loan options to help you achieve your home ownership goals. We will provide recommendations and advice, highlight the pros and cons of each loan, and guide you towards the option for which suits your circumstances.
How much of a deposit do I need?
Generally speaking, a 20% deposit is required for any loan. However, depending on the lender and your circumstances, some lenders will allow as low as 5% deposit. If the deposit is less than 20%, the lender will require Lender’s Mortgage Insurance (LMI) which will add to the overall costs.
Lender’s Mortgage Insurance is important to instill confidence in the lender. It insures the lender in the event that the borrower cannot make repayments.