Michael Kordish

About Michael Kordish

Why use a Mortgage Broker?

With access to a large panel of lenders and hundreds of loans to choose from, why not let me do all the hard work. My service won’t put you out of pocket as I am paid by the lenders. I will help find you the right loan for your finance needs at a competitive rate and therefore put you in the right financial situation in regards to one of the biggest purchases: your home. I will help guide you through the process from pre-approval, purchase, to settlement, and throughout the duration of the loan.

Home loans

Getting your home loan sorted out early can ensure you are in the right position to negotiate for your home on your own terms. And while the home loan application process can seem daunting, it is often simpler than most people think. I have access to home loans from a large range of major banks and secure lenders, and I truly understand home finance in a real estate context.

First home buyers

Buying your first home is an exciting experience, but there can be a lot to think about. I make the home loan application process as smooth and easy as possible, so you can concentrate on finding the right home. As part of my service, I will help you understand the types of home loans available to you as a first home buyer and choose the right one for your situation. If you are eligible for the First Home Owners Grant or any state government first home buyer assistance, I will even help you fill in the paperwork.

Home Loan Deposits

Before your home loan is approved, most banks and lenders will require a minimum deposit of 5 percent of the value of the property you are purchasing. Depending on the lender and your individual situation, you may be able to fund your deposit from a range of sources, including genuine savings, monetary gifts, inheritances and first home buyer incentives. It is important to note, however, that most lenders will require at least a portion of your deposit to come from genuine savings.

If you don't have the deposit required, you may be able to make use of family equity, also known as a limited guarantor loan. The most common form of family equity is where a family member, usually your parents, offers their existing property as security for a portion of the home loan, generally around 20 percent.

Home Loan Pre-approval

Home loan pre-approval is a great way to ensure you know how much you can afford to pay for a property before you even start looking. A written pre-approval can also give you an advantage when you are negotiating on a property with a vendor, as opposed to someone who has no pre-approval or finance in place. A home loan pre-approval is generally valid for about three months, and you will still need a satisfactory valuation on the property you intend to purchase before your pre-approval can progress to a full loan approval.

Professional Packages

Generally the higher the borrowing means the higher the discounts available to you, so let me help you get a competitive deal. Professional packages give clients the ability to integrate extra products such a free credit card or an offset account that can save you thousands of dollars and years off your loan.

Refinancing

Refinancing your mortgage is something that takes careful consideration. The most important thing to look at is whether refinancing will put you in a better position than you would be in if you stuck with your current home loan. I can go through the sums with you to show you the costs involved in changing home loans, as well as your projected costs over a set time frame for both your current and proposed home loans. And if you decide that refinancing is the right move for you, I will help you complete all the necessary paperwork to make the change.

Let me see if I can save you money by using my panel of lenders and even negotiating on your behalf so you could pay a low rate. Call me for your free health check today.

Business and Commercial Loans

Business and commercial loan options vary depending on whether you’re a start-up or existing business. If you’re buying commercial property, undertaking a property development, expanding your business or need some cash-flow funding, assistance from a good commercial finance broker can be invaluable.

Low Doc Loans for the Self-Employed

Many self-employed borrowers need a loan that isn't quite standard, mostly because they don't have the full financial history required to get a regular loan. Low documentation (or low doc) loans fulfil the needs of many self-employed borrowers. You'll still need some financial history and paperwork - often about 12 months BAS statements and an ABN that has been active for at least 6-12 months.

Upgraders/New Property Buyers - Bridging Loans

Financing the move from one property to another can be quite stressful, especially if you’re yet to sell your home - how do you free up the funds that are tied up in your current property to purchase the next one? A bridging loan can help. With a bridging loan, your lender will use both your current and new property as security and lend you enough to buy your new home.

While you are waiting for the sale and purchase process to be completed on both your current and new property, you make interest only repayments on the loan, or maybe even no repayments at all (called capitalising the interest). Once you have sold your old home, the proceeds go towards paying off your bridging loan. The amount left over, called the end debt, is then transferred to a standard home loan, becoming the home loan on your new property.

Property Investment Loans

Property investment can be a smart wealth creation strategy, if you get it right. And that doesn't just mean finding the right property - you need the right investment finance as well, otherwise you may find yourself throwing money away for nothing. Your investment loan package should be tailored to your investment strategy and goals, so I work closely with your financial planner and/or accountant to make that happen. Whether you are an experienced property investor with a big portfolio, or just starting out with your first property, I can help you get the right investment loan for your circumstances.