Track Financial

Residential Mortgage Finance

Our experienced brokers make finance easy. We’ll help you stay on track with your financial goals and make your property dreams a reality.

Whether you’re buying your first property, are investing, looking to refinance, or just have a residential finance question, we’re here to help. We have access to over a hundred different loan products to suit different situations. We also offer a fee-free service, so you won’t have to pay us a cent.

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How We Can Help

Buying Your First Home

As a first home buyer, the home loan application process can feel overwhelming. We can help streamline the process for you, explaining difficult concepts in easy-to-understand language. We can determine your borrowing power, find the right home loan for your needs, and guide you through the application process.

Importantly, we’ll also help you choose the right home loan to suit your situation, matching the best products to your circumstances. Along the way, we’ll provide resources and information to help you stay on track.

Seeking An Investment Property

Property is widely seen as one of the most viable and accessible investment options in Australia, and can solidify a financial future for yourself and your family. If you’re looking for finance to purchase an investment property, we can help.

We can guide you in the process of funding your investment property, helping you to utilise your equity and structure your loans so that you can take advantage of any tax benefits in future.

Upgrading To A New Home

Your home should be a sanctuary where you come to relax, recharge, and enjoy life. Yet finding the right home can take time. So, when you’re ready to upgrade to a new home, it can be a balancing act trying to time the sale or leasing of your old property with the purchase of a new one.

Our experienced brokers can guide you through this process and advise you on the best lenders and products to suit your situation. Of course, we understand that time is essential in these situations, so we’ll work with our lenders to hasten the process and keep you informed every step of the way.

Land & Construction

Instead of purchasing an established property, some of our clients choose to purchase a block of land and create their ideal custom home. This is an exciting prospect for individuals or families wanting to create a unique home of their own. But the financial side of building your own home can be complex.

We can guide you through the process and advise you on how to structure your loan – or loans – in the most efficient way. And, when your new home has been built, we can continue to assist you to consolidate separate loans, if necessary, to better manage your debt.

Renovations & Development

Want to renovate your home or develop a block of land? We can advise you on seeking finance while balancing or drawing on any existing loans you may have. If that’s not possible yet, we’ll advise you on the steps you need to take to be able to reach your goals in future.

Debt Structuring & Consolidating

If your financial situation has changed, or you’d just like to simplify your finances, we can assess your finances. We’ll present you with simple financial solutions to minimise and consolidate your debt as quickly as possible. Alternatively, if you have a more complex financial situation, we can also advise on more detailed solutions.

Self-Managed Super Fund Loans

The process of securing a loan for a self-managed super fund can be complex, involving strict borrowing conditions. Yet SMSF loans can be highly valuable, allowing you to leverage your super to purchase property. From using your SMSF to purchase an investment property to refinancing an existing loan, we can help you access the most appropriate finance solutions for your circumstances.

But not only that, we’ll work to understand your financial and property goals in detail. This allows us to advise you on the steps you need to take to reach your financial goals faster.

A mortgage broker acts as the intermediary (or the middleman) between the borrower and the lender, using their knowledge and software to source competitive rates and facilitate a smooth process to settlement. Mortgage brokers represent the borrower, acting in their best interests at all times to find the best lender to suit the borrower’s financial situation and needs. They handle all the steps throughout the borrowing process and report back to the borrower at various stages.

There are a wide range of mortgage products out there and it can be confusing to try and compare them all. A mortgage broker will help navigate the options by explaining the differences between products. They will eventually help the borrower choose a loan that suits their specific needs. Once a product is chosen, a mortgage broker will help the borrower navigate the process, ensuring that the borrower is fully informed every step of the way.

A mortgage broker can potentially save borrowers time and money by streamlining the borrowing process and finding the most suitable lenders for their clients.

We have been working in Sydney, Newcastle, and all across Australia for over 25 years. In that time, we have carefully developed our systems and processes to make sure our clients get the best possible outcome and service along the way. Today, what sets us apart is our focus on personalised service and tailored solutions that suit each client’s requirements. You only need to read the reviews left by our clients over the years to see the evidence of our unmatched dedication.

We do not charge a fee for our service. We are paid a commission by the lender you choose which is fully disclosed to you at the outset (government and lender fees and charges apply). Initially, your mortgage broker provides you with our Credit Guide, which outlines how we are remunerated generally. When you choose us to arrange your finance, we will provide our Credit Proposal Disclosure document which details the specific sum your lender will pay us after the settlement of the loan. Our advice is based on what is best for our clients. It is our absolute priority that our clients are satisfied with our service, as we rely on client reviews and referrals to sustain our business.

Track Financial starts by asking you to take 10 or 15 mins to complete our responsible lending questionnaire. Our questionnaire will provide your broker with all the information they need to start working on a plan that is aligned with your needs and objectives.

Your broker will then tee up a time to go through the basics with you and share reports with you, which outline the current interest rates and monthly repayments for your proposed mortgage.

In that meeting, your broker will outline the differences between various types of home loan products, such as fixed versus variable rates or basic loans versus various packages. They will also discuss the pros and cons of choosing smaller lenders over bigger banks.

Your Track Financial broker will also talk to you about lender rules around different types of properties, such as small inner-city units or converted warehouses and large acreage. They will also offer free RP Data property reports on any place you are considering, to give you valuable insight into that property, including recent comparable sales and an estimate of the value today.

They will also explain the process involved in full, describing every single step you will take on your journey, not just in applying for a mortgage. Your broker will explain how to make offers, what conditions to place on the contract, how long to set a finance clause, and how to decide on a settlement date.

After your first appointment with Track Financial, you’ll feel glad you chose to engage a mortgage broker. We look forward to helping you buy a property or get a competitive rate.

After your loan has settled, Track Financial doesn’t forget you. We are paid an ongoing trailing commission by the lender you chose to continue to be available for you to answer any questions and perform modifications to your loan such as fixing or switching products.

Each year your broker will also review your loan to make sure it still suits your needs. We will also compare it with those on offer from other institutions and negotiate with your current lender for you, to see if we can secure a better rate from them for you.

A First Home Buyer needs to save at least a 5% deposit* but, the more that is contributed now, the less interest is charged in the long run and the lower the repayments will be.

If the initial deposit is less than 20% + any stamp duties, lenders mortgage insurance may apply (explained further down the page). If you are purchasing a subsequent home or refinancing, it is likely you will have more equity so we recommend you put down at least 20% + the costs.

*It is possible, with the help of a Parental Guarantee, to avoid paying lenders mortgage insurance, there is a section on that below also.

Track Financial charges no fees. However, you will likely pay Lender and Government fees in the course of arranging and settling your mortgage.
In a property purchase, common Government charges are Stamp duty, Land Transfer Registration, Registration and Discharge Registration.

You may also pay a loan application fee or lender legal charge, although it is your broker’s role to keep those to a minimum! You will also have to allow for Conveyancing and Council Rates / Body Corporate fees.

When refinancing you don’t need a conveyancer and there’s no Stamp Duty or Land Transfer Registration so would only pay Registration and Discharge Registration plus any Lender fees, if applicable.

As part of our service, we will outline any fees and charges you need to pay and clearly communicate this to you so you can be fully prepared.

A pre-approval is confirmation from the lender they are happy with the scenario your broker has prepared and submitted, providing their conditions are met. This pre-approval may be required for you to make a formal offer when purchasing a new home.

There may be specific conditions requested by your chosen lender, but there are some that are standard as follows:

  • A satisfactory valuation result
  • An employment check
  • Formal acceptance from the mortgage insurer (if applicable)

A pre-approval usually lasts for 90 days, at which time your broker will be in touch to renew your pre-approval if you haven’t made a purchase in that time.

When you sign a contract to buy, your broker converts the lender’s pre-approval to full approval. They will collect a copy of the fully signed contract and Section 32 which is then sent to the lender. A valuation of the property is often ordered.

Once the valuation has been accepted and all other conditions are met, the lender issues an unconditional approval and a formal loan offer for signing. Another appointment is scheduled so that your broker can fully explain the loan offer, and you can sign it.

Within three to four days of receipt of the signed loan offer, the lender moves your file to their settlements area. This team liaises directly with your conveyancer to book a settlement time on the agreed day.

After you sign the contract, the lender moves your file to their settlements area. This team liaises directly with your conveyancer to book a settlement time on the agreed day.

A week or so before settlement, your conveyancer calculates the precise amount of council rates and water rates and lets you know the exact shortfall you need to contribute. This sum can be paid by way of a bank cheque or transfer from your account. Your conveyancer should have arranged everything with you in advance, but they will contact you prior to settlement if there is any outstanding balance that needs to be settled.

On settlement day, the conveyancer liaises with the lender on your behalf and arranges to transfer ownership of the property into your name. All you have to do is collect the keys from the agent!

Lenders mortgage insurance (or LMI) is usually required when a lender provides a loan that covers more than 80% of the purchase price or valuation, whichever is the lower. It is designed to cover the lender for their risk and protects them in the event that the property needs to be sold.

If the lender suffers a loss on the sale, they claim payment from the mortgage insurance company. The insurer then pursues the borrower for the amount they paid the lender. The insurance offers the borrower no protection whatsoever and is a once-off charge which can be added to the loan amount in certain circumstances. The price of the premium depends on the loan to value ratio of the property purchased.

A parent* is able to help their children avoid the cost of lenders’ mortgage insurance by offering a portion of their home equity to reduce the risk for the lender. The standard comfort zone is where your loan does not exceed 80% of the property value so your deposit is combined with equity in the parent’s home or investment property. Your broker will explain how it all works and ensure that you understand the implications of using a guarantor.

*Mum and Dad must seek independent legal advice to have their rights and responsibilities as guarantors explained to them fully.

Quote Box
We are experienced home buyers but new to the Australian home buying market. Ben was always professional and efficient in his explanation of the process and was always available to answer questions whenever required. We would have no hesitation in recommending Ben and Track Financial as a home loan broker.
Home Owner
Professional service, up to date and great knowledge of the benefits and downfalls of each product. Faultless processing from Track Financial making buying a house far less stressful. Appreciate it guys! Keep up the good work.
Home Owner
Ben and the team at Track Financial provided excellent assistance and advice throughout our refinance process. We have used other brokers before and had always been disappointed but Ben exceeded our expectations and achieved a great outcome for us. We would recommend his services without hesitation.
Home Owner
Ben is a very professional businessman. I have found him very helpful in my dealings with him, his knowledge is also great and his recommendations are also very helpful. I would absolutely recommend Ben to anyone who is in need of a better rate on their home lone. One other thing i really appreciate is your newsletters and how you keep me updated on what is going on with the interest rates and so on, i find that interesting. Thanks Ben, i will definately continue to use and benefit from your services.
Property Owner
Ben helped us to find the loan that we needed and an excellent interest rate which made it possible to get the house that we needed. He worked through every thing with us and it wasn’t easy for Ben as we are off shore and had to do it by email and phone. I would recommend Ben to any one else that is looking for a loan.
Home Owner
A great service by the whole team, very supportive in every step and helped in every way they could. Highly recommended
First Home Buyer
It was a pleasure working with Ben and his team. From initial mortgage strategy, through to planning and implementation the process was simple and easy to understand. It was a great customer experience. Saved lots of money by using various mortgage strategies to suited my finances. Already have recommended Ben to various others.
Property Owner
Ben’s friendly and professional manner throughout the process of refinancing made me feel confident knowing he understood what I required and arranging everything in a stress free way. I will be recommending Ben to my family and friends.
Property Owner
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