Q. Is it possible to get mortgage with no down payment?
Ans. Yes you can avail mortgage facility without paying any deposit.

Q. How long does it take to get an approval?
Ans. Approvals are generally very quick & in most cases just take about 48 Hrs.

Q.What is debt consolidation?
Ans. Debt consolidation is a process of consolidating several high interest loans into one low manageable payment.

Q. Is my confidential information in safe hands?
Ans. Yes be assured that the information that you provide us would be accessed only by persons who need to access it to help you with your loans & other services that you are looking for. We maintain proper safeguards to guard your non-public information.

Q. How long will it take to complete my mortgage transactions?
Ans. If you provide the requested information to the lender timely then it would take the mortgage transactions around 2 weeks to complete.

• What are the steps in my loan settlement?
• Sign mandate & receive indicative approval,
• Return Indicative approval with all supporting information
• Valuation done
• Mortgage documents issued
• Mortgage documents received back & settlement arranged
• Settlement complete

Q. I am behind in some payments, I need money now, is it possible?
Ans. Yes you can still get money & the option available is Personal Loan.

Q. Can I borrow money to buy property overseas?
Ans. No .Lenders do not provide loan to buy property overseas as they also need some sort of security to provide the loan

Q. What if I have a bad credit history can I still get loan?
Ans. In regards to bad credit and credit defaults we can still assist you in obtaining the finance you require

Q. Do I have to attend the settlement?
Ans. No settlement is usual taken care of by the Solicitor/Conveyancer whom will send an settlement clerk to attend settlement but still if you wish to attend the same you can.

Q. What is LMI?
Ans. Lender Mortgage Insurance .It is an insurance to protect the lender from any losses resulting due to default by the borrower. LMI premiums are payable by the when the amount borrowed is above a certain percentage.

Q. Is Iloans a broker?
Ans. Iloans is a Mortgage Broker and we are your one shop for all your finance needs. Iloans is a well established Melbourne CBD based organization serving Australia wide, and loan writers ready to assist your needs

Q. What fees do I pay & when?
Ans. Valuation-upfront
Application- upfront
Rate locking fees- upfront
Brokerage (if applicable)-on settlement

Q. I have a valuation done, can I use it?
Ans. No everyone get their valuation done though you can always use it to refer & compare.

Q. Can my interest rate change before settlement?
Ans. Yes interest rates can change if you have taken a standard variable product but if you have a fixed rate then the interest rate does not change.

Q. Is there a way around it?
Ans. Yes you can rate lock it to prevent interest rate fluctuations.

Q. I have a declared bankruptcy can I still qualify for a mortgage?
Ans. Yes some lenders will consider your application depending on your credit history since the bankruptcy is discharged. The best thing to do is to consult mortgage consultant.