Property Report

Using Coco Finance Broking offers several advantages over approaching banks directly. As brokers, we have access to products from over 40 lenders, including major banks, regional banks, credit unions, and non-bank lenders, giving you exposure to a much wider range of loan products and interest rates than any single institution can offer. We provide impartial advice as we're not tied to one lender's products, allowing us to recommend loans based purely on your needs and circumstances. Our brokers handle the application process with multiple lenders if needed, saving you time and effort. We also have established relationships with lenders' business development managers, which can help expedite applications and resolve issues. Additionally, we provide ongoing support throughout the loan process and can assist with future refinancing needs as your circumstances change.

Coco Finance Broking offers access to a comprehensive range of home loan products to suit different needs and circumstances. These include variable rate loans where the interest rate can fluctuate with market conditions, fixed rate loans that lock in your interest rate for a set period (typically 1-5 years), and split loans that combine both variable and fixed portions. We can arrange interest-only loans for investors or those requiring lower initial repayments, principal and interest loans for owner-occupiers, and construction loans for building new homes. Additionally, we have access to specialty products such as low doc loans for self-employed borrowers, bridging finance for those buying before selling, and refinancing options for existing homeowners. Investment property loans, first home buyer products, and loans for unique properties or situations are also available through our extensive lender panel.

Yes, Coco Finance Broking can assist clients who have experienced credit challenges or previous financial difficulties. While a poor credit history can make obtaining finance more challenging, it doesn't necessarily prevent you from securing a home loan. We work with specialist lenders who consider applications from borrowers with various credit issues, including previous defaults, bankruptcies, or late payments. Our approach involves thoroughly reviewing your current financial position, understanding the circumstances behind any credit issues, and identifying lenders who may view your application favourably. We'll help you understand what documentation may strengthen your application, such as evidence of improved financial management or explanations for past difficulties. Each situation is unique, and we'll provide honest advice about your options and likelihood of approval.

At Coco Finance Broking, our mortgage broking services are provided at no upfront cost to our clients. We receive our remuneration through commissions paid by the lenders when your loan settles successfully. This commission structure means you can access our expertise, market knowledge, and lender relationships without paying broker fees directly. The commission we receive does not affect the interest rate or fees you pay on your loan, as these are set by the lender according to their standard pricing. We maintain full transparency about our commission arrangements and will always disclose how we are remunerated for any loan we recommend to you.

The deposit required for a home purchase typically ranges from 5% to 20% of the property's purchase price, though this can vary based on your circumstances and the lender's requirements. With a 20% deposit, you can avoid Lenders Mortgage Insurance (LMI), which is an additional cost for borrowers with smaller deposits. However, Coco Finance Broking can help you explore low deposit options if you have less than 20% saved. Some lenders offer loans with deposits as low as 5%, and there are government schemes like the First Home Guarantee that may allow eligible first-time buyers to purchase with just a 5% deposit without paying LMI. We can also explore options like using equity in existing property, gifted deposits from family members, or accessing superannuation through the First Home Super Saver Scheme to boost your deposit.

Absolutely, Coco Finance Broking specialises in investment property finance for clients looking to invest in Central Coast properties or anywhere across Australia. Investment property loans have different criteria compared to owner-occupier loans, typically requiring higher deposits (usually 10-20%) and may have slightly higher interest rates. We understand the unique aspects of investment lending, including rental income assessments, negative gearing implications, and tax considerations. Our brokers can help you structure loans optimally, whether you're purchasing your first investment property or expanding an existing portfolio. We work with lenders who actively support property investment and understand the Central Coast market dynamics. We can also assist with portfolio lending strategies if you're looking to acquire multiple properties, and provide guidance on loan structures that may offer tax advantages or improved cash flow for your investment strategy.

The home loan approval timeline can vary depending on several factors, but typically ranges from 2-6 weeks from application submission to final approval. Pre-approval can often be obtained within 3-5 business days, which is valuable when house hunting as it demonstrates your borrowing capacity to vendors. The formal approval process involves property valuation, detailed document verification, and final credit assessment. Factors that can affect timing include the complexity of your financial situation, the lender's current processing volumes, property type and location, and how quickly all required documentation is provided. At Coco Finance Broking, we work diligently to expedite the process by ensuring applications are complete and accurate before submission, maintaining regular communication with lenders, and keeping you informed of progress throughout.

Refinancing through Coco Finance Broking involves replacing your existing home loan with a new loan, potentially from a different lender, to take advantage of lower interest rates, improved features, or changed circumstances. The process begins with a comprehensive review of your current loan and financial situation to identify potential savings and improvements. We'll compare your existing loan against current market offerings from our panel of lenders, considering factors like interest rates, fees, loan features, and your future needs. If refinancing appears beneficial, we'll handle the application process, including property valuation, documentation, and liaising with both your current and new lender. The new lender typically handles the payout of your existing loan at settlement. Throughout the process, we'll keep you informed of progress and ensure the transition occurs smoothly. Many clients save thousands of dollars annually through refinancing, and we'll calculate the potential savings before proceeding.

When applying for a home loan through Coco Finance Broking, you'll typically need to provide several key documents to support your application. These include recent payslips (usually the last two), tax returns and notice of assessments from the ATO for the past two years, bank statements for all accounts over the last three months, and identification documents such as driver's licence and passport. If you're self-employed, additional documentation like business financial statements, BAS statements, and accountant-prepared financials may be required. For the property, you'll need a sales contract or property valuation. We'll provide you with a comprehensive checklist tailored to your specific situation and lender requirements, and our team will guide you through gathering all necessary documentation efficiently.

Coco Finance Broking provides comprehensive mortgage and finance solutions for clients throughout the Central Coast and across Australia. Our services include home loan applications for first-time buyers, refinancing existing mortgages, investment property loans, commercial finance, and construction loans. We work with a panel of over 40 lenders including major banks, credit unions, and non-bank lenders to find suitable finance options for your circumstances. Additionally, we offer pre-approval services, loan structuring advice, and ongoing support throughout the settlement process. Our brokers also assist with personal loans, car finance, and business lending solutions, ensuring we can address various financial needs under one roof.