Resources

Finance Resources

The Loan Process

1. Say hello

It all starts with one minute to answer a few simple questions right here. When you’re done, we’ll meet to talk about your goals, opportunities and next steps, in person or online.


2. Get those goals

Once we know what you need, we’ll research 60 banks and lenders to provide you with loan recommendations best suited to your needs.


3. The nitty gritty

Have you found your lender? Well, sit back. We’ll do the paperwork, package, sign and lodge your documents to get you primed and ready for pre-approval.


4. So… How much can you borrow?

If your pre-approval gets the tick, your borrowing power will be revealed. This amount is valid for three months and gives you a clear idea of what you can spend. Let the house hunting begin!


5. Seal the deal

After all the ups and downs of the home-buying hunt, you’ve found a home and made an offer. While you pop the champagne, we’ll keep track of your application to ensure it all runs smoothly.


6. Settlement - your big day!

Get excited, it’s time for settlement. Sit back and enjoy the moment; we’ll let you know when everything is finalised, and your lender has released the funds.



Contact Rauseo Group for a consultation in Darwin.

Get in Touch

Financial Difficulty & Hardship Hub

Have you experienced a change to your financial situation? Have your home loan repayments increased to a level you're no longer comfortable with? If you're unable to meet your loan repayments, we're here to support you and get the help you need to overcome any financial difficulty or hardship you may be experiencing.


It is a good idea to reach out as soon as you identify there may be a problem so we can act quickly and reduce the impact.


Whether your financial difficulty is short term or continuing, it is important to understand there are a number of steps we can assist you with.


You can contact your lender directly to discuss your options, such as postponing certain repayments, changing your loan term or varying your credit contract. The lender will assess hardship applications on a case-to-case basis, provide access to short-term relief and assist you through your temporary hardship event (these are not long-term solutions).


Alternatively, you can reach out to us, and we can walk you through the process, including assisting you with your hardship application. We can also reevaluate your circumstances for longer-term solutions.


How can we help?

Understanding your financial circumstances and the cause of the financial difficulty is crucial for us to determine what assistance may be possible and appropriate for you.


We can evaluate your situation to determine the options available to you and point you toward resources that may be useful.


We have over 60 lenders on our panel that may be able assist you and provide you a suitable outcome for your situation.


As mortgage brokers we provide essential information and advice to you at a time when understanding appropriate options and making the right decision is critically important.


We're available to meet in person, chat over the phone or via a video call.

Book A Consultation

Frequently Asked Questions

  • What’s a payment deferral?

    This is also known as a mortgage holiday but don’t let the name fool you, this is no holiday. If you've been stood down, lost your job and cannot afford to pay mortgage repayments, you have the ability to enact a payment deferral. This is when a lender defers your repayments for a period of time. Every lender has their own rules and requirements for these payment deferrals. It’s important to know that at some point you will be required to pay the interest that accrued while the loan was deferred. For example, some lenders will add the amount you owe to the end of your loan and some will charge immediately after the payment deferral is off hold. Also, after the deferral, your balance and your repayments could be higher to make up for the interest accrued deferred repayments.

  • What happens to the principal if repayments are frozen?

    When a payment deferral on an existing mortgage is activated, it means that a lender will defer your required mortgage repayments for a specific period of time. Although your repayments are deferred, the interest on your loan is still calculated and added to the balance. In effect, you're paying interest on interest. So, when you recommence repayments your lender will recalculate your repayments so you repay the loan in the original term. This ultimately means your repayments will rise. However, there are options available to refinance after the payment deferral period, which could help to reduce repayments and increase the term of your loan, giving you a bit more flexibility.

  • How do I get hardship assistance?

    First things first, while it’s important to understand what your options are in these difficult times, I urge you not to panic and spend hours on hold with your lender. Let’s look into your options first, I can help you navigate and understand what your options are during this time of financial hardship that many Australians are facing.

  • When should you consider refinancing?

    There are a number of reasons you might consider refinancing. These may include:

    Lower rates

    Interest rates regularly change, as is the case in the current market, so if you have a variable rate or your fixed rate is due to expire, you may be able to negotiate a lower rate with your lender - or find one that will.

    More bells, better whistles

    Not all home loans are packaged equal. It can be worth looking at features and functionalities to see what could be useful for you. If you aren’t using features with your existing loan, switching to a more basic loan could potentially save you in fees.

    Debt consolidation

    If you have multiple debts, such as a personal loan, credit card or car loan, you may be able to roll them into your home loan. This consolidates your debt to one repayment and could save you in interest. We will consider the whole picture to determining if debt consolidation is right for you.

    Free up money

    Whether you need to free up money for a renovation, a new car or have another project in mind, if you have grown equity in your home, you may be able to refinance to access more money to fund it.

  • Refinance vs payment deferral?

    A common question I get asked is whether to refinance or if a payment deferral is the way to go. There are a few different options which all depend on your current situation and financial needs. I can help answer any questions you may have around this to see what the right option is for you.

  • Is now a good time to fix my rate?

    There is no easy answer to this question, as it depends on your situation and your financial goals. Let’s take a look at the pros and cons of fixing your rate:

    Pros: Fixed rates prevent the risk of your repayments increasing due to a rise in interest rates and your repayments will stay the same for a set period.

    Cons: Fixed rates are usually higher than variable rates, but now as rates are continuing to decrease, there could be associated fees and costs for breaking your fixed rate if you chose to refinance.


  • Have lenders' turnaround times been impacted?

    Some lenders’ turnaround times are still very good and sit at about 2 days between lodgement and decision. Other lenders’ turnarounds have blown out and are now measured in weeks. However for those lenders, the increase has more to do with losing capacity and capabilities in offshore teams to do documentation than the availability of money.

    I have up to date turnarounds for all 62 lenders on the Loan Market panel so I can share those with you as we discuss what your options are for your current situation.

  • What are the options as a landlord?

    Your tenants may be going through some financial hardship at the moment and may not be able to afford paying their rent, I can help:

    Negotiate payment deferral options for your mortgage

    Discuss hardship options

    Refinance or reprice to get a more competitive rate

    Outline the costs of switching and not switching

Ask A Question

Contact us for any enquires

Share by: