The term Mortgage Broker is the term applied to many in the industry however, the types of services each offer can vary from one business to the next.

A lot of brokers will specialise in one particular field such as home loans only or perhaps business lending. JPB Group on the other hand falls into a category often referred to as a Boutique Brokerage, a solutions focused business, where the services offered extend to all types of lending as well as other services such as life Insurance and General insurance and where needed can connect clients to other industry related professionals such as Solicitors and Accountants whose services are often needed to complete a transaction.

Leading a busy life often makes it difficult to find time to review our own finances. Most are working harder and longer in an effort to get ahead. However, with the ever-changing landscape, it’s important to review your circumstances regularly to make sure you're in the best possible position that helps you to achieve your next big step.

As part of our standard service all clients of JPB Group receive a full review of their current financial circumstances regularly and free of charge.

Sometimes known as a "Formal Pre-approval" it's important to understand exactly what it means to avoid some of the known risks it causes when confused with several other processes that have a similar name such as "pre-qualified" or "initial assessment" which in most cases involves a quick calculation, without any approval, that determines borrowing capacity only.

A "Formal Pre-approval" on the other hand is the commencement of the underwriting process carried by the lender which requires the submission of a completed loan application and supporting documents, apart from those relating to the security property in the hope that a "Formal Pre-approval" can be issued subject to an acceptable security property being offered.

With the knowledge that all other aspects of their application has been approved it provides peace of mind as the borrower/s begin to shop for a property.

Lenders Mortgage Insurance (LMI) protects the lender against any loss incurred following the sale of a property used as security for a loan where the borrower could no longer meet the repayments.

It involves a once off, non-refundable premium paid by the borrower which can sometimes be added or capitalised to the loan when it settles.

LMI is payable when the loan amount borrowed exceeds 80%. of the value of the security property.

This is known as the Loan to Value Ratio (LVR)

While the costs of LMI can be expensive it's often used as a tool for getting people into the property market quicker.

If you have a 20% deposit and enough left over to cover all other costs then LMI can be avoided altogether.

For a lot of people, a life event which is often unpredictable such as divorce, unemployment, having to care for a sick partner or child can, through no fault of their own lead to a poor credit rating. As a solution focused business, we’re experienced in dealing with all levels of credit impairment. We’ve assisted many borrowers with loans, often short term, from lenders that provide products designed to help borrowers while they get back on their feet.