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The directors of Loan Domain want you to feel comfortable when dealing with them. We try to be as approachable as possible while still offering you respected, informative tips on all levels of finance.
Although we would like you to feel comfortable asking us questions, here are some of the most frequently asked questions to get you on your way.
Frequently Asked Questions
- 'Q' What are the requirements for savings
for Lenders Mortgage Insurance?
- 'A' If a loan amount is greater than 80% of the value of the property purchased (ie 80%-90%) then Lender Mortgage Insurance is required. Once LMI is required then as the customer you are required to show 5% genuine savings of the purchase price. The savings must be shown at a minimum period of six months, showing a balance increasing or stable at the 5% over the six-month period.
- 'Q' How much can I borrow?
- 'A' At Loan Domain we provide personalised service, and do not wish to treat you as a number, therefore as part of our service we will come to you to tailor a package that will answer the above question, and also explain how we can ascertain the maximum amount you can borrow.
- 'Q' What fees are associated with the
purchase of a property?
- 'A' The fees and charges associated with the purchase of a new property are wide and complicated. We believe that it is better to show you as the customer personally all the fees and charges associated with your new purchase, so as there can be no misunderstanding or confusion.
- 'Q' What are the repayments that I
am required to make and when?
- 'A' There are numerous ways of making repayments and numerous rates that can be taken when purchasing your new house. We believe it is of maximum benefit to you for the directors at Loan Domain to guide you through this decision as there are many pitfalls that can be avoided.
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