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.
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.
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 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.
Being a first home buyer with single income in my family and looking for 95+% LVR, I was worried about the possibility of getting a house loan in Sydney from one of the top banks. I have contacted Loan Market seeing the +ve reviews from here and by god's grace, Michael Kordish was allocated to me. He was very professional and spot on right from calculating the borrowing limit (not only from Bank perspective, considering my financial situation and the expense that might occur post settlement etc) and taking me to the different stages in the home buying process. He gave a great support and assistance through out the home loan process and the entire process was over within 3 months from first date of contact. He helped me to understand the end-to-end process, he was reachable, literally, 24x7 (yes, got responses at 11pm some days and spoke to him in late evenings many times). I can't remember an incident where he failed to respond on the same day. He is a cool head person (cause he knows what he is doing) and gave a wonderful support during the nervous times. I highly recommend Michael and loan market for any first home buyers for a top class service. Thank you very much Michael !! I am enjoying my house now and it wouldn't be easily possible without you. - Varatha Venugopal
'We were in a dilemma and what options were available to us, to make matters worse we weren't aware of the options to decide on. Enquiries with 3 different brokers left us 2 months of supplying details for loans that never progressed. Then we contacted Loan Market that put us in touch with Michael Kordish. He contacted us, arranged for a meeting time to that suited us, and advised of all options. The best of these was chosen and decided to pursue- this was not even on the table from the other 3x brokers! He has also negotiated a better interest rate than the others enquired with- 2 of which were the same bank too! Currently we have approval for our loan and in quicker than expected time to pursue our property goals.
We would highly recommend Michael to anyone- whether currently own their home, looking for investment or simply looking to refinance to get a better deal. He has exceeded our expectations, kept us informed the whole way AND done it all quicker than the others! The professionalism and courtesy displayed is very much appreciated by us and commendable to Michael and the business. Michael is a genuine guy who has wanted nothing but the best for his clients-us. The short time with him has eased our pain with going through this process, provided a service/solution that we most needed, and enabled us to pursue what we had aimed to do. Thanks so much Michael for your time and effort provided, and Loan Market for providing such a quality expert to help us out!' - Drew