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About Me

Paul Zada

Current Rating: 3.33 / 5
Finance Broker
Finsure Finance & Insurance
www.finsure.com.au
Sydney, New South Wales
0400343500

My Activity

answered
Q: I have saved $28,000 and found a unit I would like to make an offer on… around $600,000. My income is $110,000 and the mortgage broker I spoke to suggested a family guarantee loan but when he found out my parents had a loan on their property he said it wasn’t possible. Their loan is only $90,000 and they have plenty of equity. Is what the broker said right and are there any other options available?
A: Hi Nick
One further thing to be considered is your servicing capacity and whether or not the lender will require a servicing guarantee as well as a security guarantee from your parents (only one major bank considers servicing guarantees). Based on the limited data provided, servicing does not appear to be an issue however we would need to have an understanding of your living expenses, credit card limits, personal or other loan repayments, marital/dependent/child support status.
Regards
Paul Zada
answered
Q: I’m a lending manager for one of the major banks but thinking about becoming a mortgage broker. Can I ask about the challenges mortgage broker have at the moment, which aggregators you would recommend and what do I need to consider in relation to the commission structures?
A: Hi Tina
Please call me and I can put you in contact with the relevant people.
Regards
Paul Zada
0400343500
answered
Q: My husbands a builder and we want to extend our home loan to renovate but for the bank for some reason is taking forever to approve. We are thinking of refinancing but first wanted to see if other banks will look at our loan and building plans?
A: Hi Bec
I would be happy to have your scenario workshopped by those lenders that are willing to lend to builder-owners in these circumstances. Please do not submit a finance application with any lender unless you have first workshopped the scenario with the lender and they have indicated a positive attitude towards it. Please contact me to work out some of the options that may be available to you.
Regards
Paul Zada