Peter Fay
Mortgage Broker Hoppers Crossing, Port Melbourne, Williamstown
Buying a property is often the biggest financial decision one can make. It is therefore paramount that one gets the best advice from a mortgage broker you trust and who is prepared to listen and deal with you on an individual basis. My initial meeting focuses not on interest rate and loan product, but rather on establishing a rapport and ensuring that you are comfortable with both the home loan process and me as your broker. I assure prospective clients that I will be there to deal with any anomalies on the way and my motto is “client for life”.
Refinance
Many mortgage brokers refinance clients for the sake of commission when it is often possible to use the existing lender to achieve the same result, thus saving both exit and start up costs. It is not always a good strategy to consolidate all debt into a home loan for a better interest rate – sometimes it makes financial good sense to leave personal loans, car loans and other credit facilities to run their term and be paid out. I pride myself on honesty and provide reliable advice at all times. I also point out hidden costs such as fees which when factored in can have a significantly adverse effect on the rate.
First Home Buyers
The decision to purchase a property is one that cannot and should not be taken lightly. The jargon and treatment handed out by lenders is daunting and confusing. This is where the services of a knowledgeable mortgage consultant are paramount. These are some areas that require clarification and explanation:
- Lenders Mortgage Insurance
- Principal and interest, or interest only loans
- Fixed or variable interest rates
- Stamp duty
There are also legal issues to consider which is why I prefer to utilise a conveyancer I am familiar with.
Before discussing home loan products and interest rates, I ensure the clients are comfortable with all of the above.
My wife and I were pretty naive when we went to build our dream home. Peter took us through the whole process and dealt with the developer. Builder and bank when issues arose we have been happy to recommend his services to friends and family alike.
R.Nunn Tarneit
Sally and I had known Peter for many years before we made our first home purchase so the decision to use him was pretty straight forward. We had all sorts of issues with building reports and pest inspections when looking at properties eventually when we selected our home Peter facilitated the finance and we have since refinanced and enjoyed a great rate for the past four years.
Adrian Morrissey Seddon
I had already reached my twilight years well before a mate introduced me to Peter as such I had no deposit and having never owned a home I thought it near impossible.to acquire. Peter took charge organised the F.H.O.G and the next thing I knew I was in my own home.
Bob Barnes Mildura
Investments
When investing, the first property purchase is always the hardest – this is because properties on average double in value every 8 to 10 years. I have extensive experience in assisting investors to obtain appropriate investment loan packages, as well as in-depth knowledge of the property process gained from both my time in the lending industry and a completed Bachelor of Business.
I purchased my first property with Peter and fortunately it very quickly appreciated to the extent that I now have 3 investment properties all financed through Peter. I have referred Peter to family and friends all with very satisfactory outcomes
Paul Kerr. Townsville Qld
I was introduced to Peter Fay by Paul Kerr he arranged the F.H.O.G and put me in my first home since then I have purchased 2 investment properties the experience has changed my life
Tracy Naylor, Kelso Qld
Companies, discretionary, hybrid and unit trusts and self-managed super funds
The knowledge I have gained in my business studies and throughout my career has enabled me to work with accountants and solicitors to gain a satisfactory outcome for clients, particularly in relation to achieving an appropriate loan structure for complex financial situations. This can often mean the difference between a low doc loan or a full doc loan, which in turn will have a bearing on the loan to value ratio, how much you can borrow, and the associated interest rate.
I recently worked with a client who was told by another broker that they were limited to a low doc loan at 80 per cent of the value of the property. Upon examining the trust and company statements, and taking into account add backs such as interest and depreciation, I was able to successfully lodge the deal as a full doc loan and make the deal more favourable for the client.
I met Peter Fay through a business network called “Breakthrough for Breakfast”, and used his services to finance my first five investment properties using both a discretionary and Unit (SMS) trust. I always maintained discussions with a second broker competing on product and rate, and Peter delivered superior deals for me on the above four properties. I highly recommend his services.
Chris MacDonald, Port Melbourne
Non conforming loans
The system of defaults and credit referencing that lenders use to determine credit-worthiness to me seems to be grossly unfair. People can be severely disadvantaged for the ‘heinous’ crime of changing address. With this in mind, I utilise the services of agencies that specialise in clearing the names of clients that have been unfairly labelled a credit risk. This can make a huge difference in the home loan products and interests available to you.
In the event of an unfavourable credit report, I have access to lenders who will consider adverse credit situations, and strive for the most favourable home loan outcome for your circumstances. The recent Global Funding Crisis has seen a reduction in options, however as the squeeze on credit abates we are seeing an increase in options for non-conforming borrowers.
Hi my name is Durdica I was the unfortunate victim of a relationship involving a gambler who left me with bad debts and an undertaking with a solicitor at an exorbitant rate Peter refinanced me with a non conforming lender and arranged an investment property at a much better rate. Peter is currently endeavouring to clear my file and place me with a prime lender. He changed my life.
Durdica M Hoppers Crossing
New arrivals and expats
A lot of expat Australians working overseas prefer to purchase property on good old Aussie soil, but are daunted by the process. I am delighted to assist, as I have done previously, to make the transaction smooth and favourable. I have also dealt with new arrivals and have access to translators in Thai, German and Pilipino.
Have dealt with Peter previously and have found his service to be of a high standard. Peter explains details and controls the entire process taking the hassle out of dealing with the different entities. Due to a career move, we have recently relocated to New Zealand and currently utilising Peter’s services to facilitate another loan for a further acquisition. Highly recommend his services, Peter knows his stuff!
Nicky Partridge New Zealand
My wife and I immigrated from Germany through my work we met Peter via a referral from a neighbour he was willing to assist us in matters relating to visa’s and eventually organised the finance for us to construct our dream home. He has been available for every detail and happily we moved in last week Peter has been a god send.
Peter Diepold Tarneit
Valuations
During my business studies I undertook a first year valuation course. Whilst I don’t claim to be – or have the expertise of – a licensed valuer, the experience together with access to real estate information via RPData, has proven to be advantageous when dealing with estate agents and valuers alike.
When it cane to consolidating some “bad debt’ Peter provided me with a property appraisal listing comparable sales which not only gave me an idea what my place was worth but also the confidence to proceed. I was able to attain significant savings using equity
Paul Parsons Newcastle N.S.W
Customers Melbourne West
If you have a home loan query and would like a personalised home loan consultation, I work with clients across Melbourne’s Western suburbs. I am also available by phone and email.
- State: Victoria, VIC
- Broker region: Melbourne West
- Suburbs: Hoppers Crossing, Port Melbourne, Williamstown
- Peter Fay provides mortgage broking services in suburbs including but not limited to: Hoppers Crossing, Port Melbourne, Laverton, Laverton North, Little River, Mambourin, Mount Cottrell, Point Cook, Quandong, Tarneit