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| What are the benefits of using Professional Partners? |
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By using our services, you avoid the hassle of going from bank to bank dealing with tedious and repetitive paperwork and not knowing if you are getting the correct mortgage. With Professional Partners, your personal mortgage consultant is able to advise as to the most appropriate home loan options to suit your individual needs and source competitive interest rates from all the major banks. We handle the entire application process on your behalf. |
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| Are there any costs for using Professional Partners? |
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No, you pay no additional fees for using our services. Professional Partners gets its fees from the banks by offering them a streamlined service that lowers their overhead costs.
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You pay nothing extra for our service. In fact, dealing with Professional Partners means that you get dedicated advice, which costs you no more than if you approached the banks yourself. |
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| Is there any obligation to accept a home loan sourced by Professional Partners? |
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No, there is no obligation to accept any approved home loan that we have sourced on your behalf. |
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| How will I be able to track my application status? |
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Your dedicated mortgage consultant will keep you informed throughout the entire process and will be available at your convenience should you have any questions. |
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| Who will see my application? |
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Only those parties involved in processing your home loan will see your application details. We adhere to the privacy policy as documented on our web-site. |
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| Are there any hidden fees? |
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No, there are no costs for using our service, as the lenders pay Professional Partners an outsourcing fee to complete the application process. |
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| Will I get the same interest rates as if I applied through the bank directly? |
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Yes, amongst other things, your credit profile, affordability and loan to value ratio determine your interest rate on your home loan. All these details are captured into the lenders credit scoring models and your interest rate is calculated. Whether you apply through Professional Partners or through the bank directly, the same credit scoring model is used to determine the interest rate applicable to your home loan. However, our experienced home loan consultants are able to motivate further on your behalf and identify the bank that compliments your needs. |
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| How will I know how much money I have available to me to buy a house? |
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It‘s a good idea to arrange for a home loan pre-approval. You will then be in a position to house-hunt with confidence. |
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| How much will I have to pay every month? |
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The amount depends upon the size of the loan, the time period over which you want pay off the loan, as well as the current interest rate. Your consultant will calculate the amount you will have to pay. |
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| How can I ensure that I don’t get into financial difficulties? |
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It is important to draw up a budget allowing for all monthly costs. A common mistake made by buyers is that they calculate what their maximum affordability limit is without making provision for the other monthly costs, and for future rises in the interest rate. When budgeting, remember that there are other monthly fees and costs that need to be provided for, such as the monthly administration fee, your insurance premium on the house and life assurance premiums. |
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