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Phone Number 1300 644 984
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Contact Email info@wisdomlending.com.au
About Us
About Us
Wisdom Lending is a mortgage broking firm specialising in residential & commercial investment property loans. Our focus is to provide structured lending advice and ensure that you have the correct structures in place from the start to get you to your goals sooner.
Wisdom Lending was created by director George Poullos after over 10 years in business management and a background in tax accounting combined with a passion for all things property related. George has a bachelor’s degree in business with a major in accounting and also sub-majors in business law & commercial law. In addition he has a diploma of finance and mortgage broking management and is an accredited member of the Mortgage & Finance Association of Australia.
We service all states in Australia with a high level of service and quick response times no matter what the enquiry.
We can also connect you with accountants, lawyers specialising in entity structures, conveyancers, financial planners, property managers and buyer’s agents.
Frequently Asked Questions
How much deposit do I need?
Generally you will need at least 10% deposit plus lender’s mortgage insurance & purchasing costs (stamp duty & legal fees) although some lenders have different rules regarding minimum deposits.
What is Lender’s Mortgage Insurance (LMI)?
LMI is a type of insurance that covers the lender in the event that you default on your loan even though you pay for it, it does not cover you. LMI generally is applicable above a loan value ratio (LVR) of 80%, some lenders do have different rules of when LMI applies.
What is a split loan?
A split loan is a loan that has both a variable rate component and a fixed rate component. That is, 50% of the loan amount may be with variable rate and 50% with a fixed rate. The proportions can 50/50, 60/40 or any other combination.
What is a pre-approval?
A pre-approval is an indication from a lender of the amount they are willing to lend you based on certain criteria. This gives borrowers more confidence before making an offer on a property to buy. There is no obligation for you to take the loan and there is no obligation for the lender to lend that amount. It is purely a pre-qualifying guide only.
Why should I use a mortgage broker?
A mortgage broker is an intermediary who works together with you by assessing your financial situation and helping you decide what type of loan is right for you and with which lender you are best suited to.
Request a Free Consultation
Would you like to speak to one of our mortgage brokers? Just submit your details and we’ll be in touch shortly.