Q. What does Scott Brennan offer?
A. Low rate home loans, car loans, business and commercial loans, sickness and accident insurance, life insurance, income protection insurance together with competitive lending including truck loans, boat loans, bike & motorcycle loans, & hire purchase and leasing for office equipment, machinery, tractors, equipment, caravans, motorcycles, business furniture & fittings, and much more.

Q. Will I talk to a different person each time I call?
A. No. When you apply for your loan, you'll get assigned your own personal Customer Relationship Manager. You will have their direct line, and they'll handle your whole application all the way through to settlement.

Q. How do I know my loan's been approved?
A. Once you've applied for your home loan, your Customer Relationship Manager will work it through from beginning to end and ring you to let you know that your home loan's been approved.

Q. What steps are involved in getting a home loan?
A. There are seven steps to getting a home loan:

1. You contact us supply the relevant information and we start the application process.
2. We submit the application to the bank and await approval.
3. Pre-approval or conditional approval is then reached this is the 1st stage of the approval process.
4. Unconditional-approval is when all credit criteria has been met and valuations have been completed.
5. Documents issued from the bank including loan and mortgage documents.
6. Pending settlement Documents are signed and returned awaiting settlement date.
7. Settlement - process completed.

Q. What's the difference between a fixed or variable interest rate?
A. Fixed rates give you certainty so you know exactly what your payments are going to be (during the fixed period), but the rate is a little higher. With a variable rate you are affected by the Reserve Bank and market changes, so your rate could go up...but it could also come down. You really should consult with a financial advisor to determine what best suits your needs and individual circumstances.

Q. What's the difference between Principal & Interest and Interest-only home loans?
A. Principal & Interest loan means you make repayments against both the original amount borrowed ("Principal') and the interest charged. Interest-only means you only make repayments off the interest (in the short term). You really should consult with a financial advisor to determine what best suits your needs and circumstances.

Q. I want to know the fees, costs and charges I could be hit with when buying a home?
A. It's hard to give an absolute list of all costs involved because some costs may be particular to your situation - but here's a list of the usual costs that most buyers have to pay.
Buyer's costs
- deposit
- purchase price
- solicitor's fees
- water rates, council rates, strata fees covering the period after exchange
- any property enquiries and searches recommended by your solicitor (e.g. survey, pest and building inspections)
- building and contents insurance
Government costs
- stamp duty on property purchase
- stamp duty on mortgage contract (not payable in all states/territories)
- mortgage registration fee
- land transfer registration fee.
Borrowing costs
- Each lender varies, we can give a better idea when choosing the right loan for you.

Q. How do I transfer my existing home loan to Scott Brennan?
A. Just give us a call and we will take care of the rest. Or check out I want to change lenders on this site.

Q. I'm refinancing, what fees would I have to pay?
A. You'll need to pay documentation fees, registration fees, possibly transfer stamp duty (if the borrower or security details change), and discharge fees and mortgage stamp duty if the mortgage is being increased. We can discuss options on how to reduce these fees and make the process smooth and stress free.

Q. How do I apply for the First Home Owner's Grant?
A. Fill in an application form for your state from www.firsthome.gov.au or apply in person at any Office of State Revenue. If you require the funds at settlement you will need to post us the original application plus any required identification documents as soon as we tell you your home loan is formally approved.

Q. Is the First Home Owners Grant means tested?
A. No. As long as you're a first-time homebuyer purchasing property in Australia, you're entitled.

Q. What types of homes are eligible?
A. The FHOG is available on new or existing homes, as well as for first home construction projects.

Q. Do I have to use the $7,000 for anything in particular?
A. No. The money could go towards your deposit or anything you like.

Q. What types of homes aren't eligible for the First Home Owner Grant?
A. Houseboats or mobile homes are not eligible for the FHOG.

Q. Am I eligible for the First Home Owner Grant if I own a property outside Australia?
A. You can still be eligible for the FHOG, as long as you satisfy all the eligibility criteria.

Q. Can I get a First Home Owner's Grant for an investment property?
A. No. Even if this is the first house you're buying, you only qualify for the grant if you're going to live in the property for the full first twelve months.

Q. What's negative gearing?
A. This is where you have borrowed money to invest (such as buying a property) and the income from an investment property (like rental payments) doesn't cover its costs (such as mortgage payments). Get in touch with your accountant or financial advisor to find out more.

Q. Does Scott Brennan offer business finance?
A. Yes - Hire purchase, chattel mortgage, Novated lease, or finance lease is available to both company & individuals providing the goods are to be used predominantly for business use. Other products include fully maintained car lease, luxury car lease, equipment, machinery, & farm lending. Business lending  is usually lower interest rates, and there are many structures available to maximise your budget or tax benefits. Contact us or speak to your tax adviser.

Q. Tell me more about your Car loan options?
A. Our Minimum car loan is $10,000.00 for Motor vehicles preferably no more than 8 years old. (Classic, import, prestige vehicles, and older trucks will be considered). The car loan will be secured on your purchase at a fixed interest rate that will not go up over a 3 to 5 year term. We also provide a wide range of loan products including truck loans, bike loans, and boat loans, and a unique 2nd chance finance service for people with bad credit or just having difficulty getting a loan.

Q. How long does it take to get approved?
A. Usually just a few hours, however complex or difficult applications can take a few days. Once approved original finance documents must be signed and the supplier will be paid directly usually within 1-2 days. For a fast approval apply online now.

Q. Can I get my approval before purchasing my car?
A. Yes, providing you can give us an idea of what you're intending to purchase. Getting pre-purchase approval before you go shopping is a good idea, allowing bargaining power on the showroom floor. We need to assess the total amount borrowed against the current market value of the item. We must also approve your supplier, as there are many fraudulent vendors in the market place.

Q. What are my chances of approval?
A. We consider things such as: have you ever filed for bankruptcy, do you own a home, how much is your current income, how long have you been employed at your current job, how long have you lived at your current address, do you have a credit rating, is it a good or bad credit rating, what is your net worth, and so on. The officer will then apply some math's to ascertain your credit status, determine the security over the loan, your current debt level, your income, and your ability to repay the debt. From this we will determine how much money you can borrow. You can do the sums yourself to determine your monthly budget. Simply deduct your expenses from your after-tax earnings.

Q. Are your interest rates competitive?
A. We will consistently monitor current interest rates to maintain and offer low rate car loans and cheap car insurance. We challenge you to try & find a better deal. We will help you beat those banks. However, the interest rate offered may vary by several per cent depending on whether you are a high or low-risk borrower. Contact us and get a quote now, then compare us with the banks using the comparison rate schedule.

Q. I've got a bad credit rating?
A. We will always provide you with the most competitive offers it has available, however those with high risk, bad credit ratings or ex-bankrupts may try the 2nd chance product available. This 2nd chance option is more lenient & lax in relation to finance approval, however is generally a higher interest rate to cover the higher risk.

Q. Can I buy a car privately or do I have to buy from a dealer?
A. Dealer, auction, private car sale and re-finance are all welcome. Some used cars may require a vehicle inspection (e.g. NRMA or RACQ) supplied to us prior to payment, particularly those purchased privately. Please discuss with our staff prior to purchase.

Q. Do I need to provide anything with my application?
A. If your self employed or applying for a business loan (hire purchase, chattel mortgage, Novated lease, or car lease) please complete an application and forward your most recent financial statements/tax returns, pay slip, and/or group certificates. This extra information will speed up your assessment & may also allow you to qualify for a discount on interest rate based on that information. On settlement some of the following may also be requested before finalising:

• Pay slip or letter from your employer
• Bank account details for direct debit
• Proof of home ownership
• Formal identification
• Comprehensive insurance policy
• Drivers Licence (with correct addresses)
• Rent receipt (if your renting)
• Company common seal (if a company)

Q. What if I have more questions?
A. Contact us now. Our refreshingly enthusiastic staff will be happy to help.