Terms & Conditions

Terms and Conditions of using our service

Home Loan Advice Centre generally does not charge clients for the home loan service we provide because lenders pay us commissions for arranging your loan with them.

Each application however takes 10 (or more) hours of work in assessment, documentation gathering, electronic submission, application monitoring.

If you engage us to submit your loan application, we ask you do so on the following basis

• That you will commit to keeping the loan with the lender we have arranged for you for at least 18 months after settlement without closing or refinancing.

• That you will fully disclose all relevant information that affects Home Loan Advice Centre’s ability to obtain your approval. Any application declined as a result of failure to disclose significant relevant information results in wastage of Home Loan Advice Centre’s time & effort in arranging your application, or a doubling of our workload if we are forced to apply to alternate lenders on your behalf .

• Examples include not disclosing private company directorships or private company shareholdings (particularly if those entities are in a loss making situation), not disclosing an adverse credit history such as past bankruptcy, or significant (>$500) past credit defaults, not disclosing dependent children, not disclosing existing liabilities.

Home Loan Advice Centre receives commissions from loan aggregators who negotiate commissions from lenders based on wholesale loan amounts. Lenders understand the time savings brokers provide to the market and pay brokers for this benefit

The benefit of our service to you

As a client you get our expertise from around 25 years in the mortgage industry … knowing in how best to structure your loan, knowing the ins and outs of lender policy, and knowing how best to present your loan to your chosen lender. This benefit is provided for no cost to you. You also get the benefits of having us manage the whole process, and getting access to a large amount of quality additional  information.

Unconventional lending

some Non-prime type lending, clients with credit defaults, or commercial related lending may be a fee based service dependent on the nature of the application. This would be discussed and agreed to with clients in  advance.