Are you tired of turning away potential customers due to their unlisted postcodes?
Look no further than Mortgage Street’s Optimax product. With the ability to accept securities located in Capital postcode 3, as well as selected non-metro postcodes, you can confidently offer this solution to your customers without the fear of rejection. The flexibility of Optimax means more satisfied customers and more successful deals for you as a mortgage broker. Choose Optimax for a comprehensive and reliable home loan option for your customers that may have missed a repayment or have unpaid or arrears in council rates.
Niches
- Rates p.a. from: 5.90%*
- Maximum loan amount: $5,000,000
- Maximum LVR Full Doc: 90%
- Maximum LVR Alt Doc: 80%
- Maximum LVR Lo Doc: 80%
- Maximum loan term: 40 years
- Maximum borrower age: 65^
- Minimum borrower age: 18
- Minimum Equifax credit index: 460
- Minimum illion credit index: 329
- Postcode range: unlimited
- Zoning: residential & rural residential
- Dwelling size: 40sqm and above
- Land size: 10 hectares maximum
- Facility type includes construction loan & all SMSF
- Unlimited cash out
- 100% interest offset account
- Variable rates apply to IO repayments up to 10 years
- Fixed repayments for P&I and IO up to 5 years
- Minimum 6 months ABN for self employed
- Broad overseas borrower eligibility
- Up to 2 dwellings on one title
- For this non-conforming loan, a risk fee replaces LMI, allowing for faster turnaround
For a comprehensive list of features, please refer to page 4 of the MSt 211 Mortgage Street Broker Rate Card
Mortgage Street is excited to announce the addition of a revolving line of credit and short-term as a facility type to our already extensive list of mortgage options that may be suitable for self employed ATO liabilities that also require working capital funding.
This means that mortgage brokers will now have even more flexibility when it comes to helping your clients find the perfect mortgage solution. With Mortgage Street, mortgage brokers can rest assured that they are working with a lender that is dedicated to providing excellent service and competitive rates because there is no mortgage manager middle man. Professional mortgage brokers are experts and always on hand to provide guidance and support, making the mortgage process as smooth and stress-free as possible for all parties.
Additionally, our underwriting process is quick and efficient, ensuring that your clients’ applications are approved in a timely manner. So, if you’re a mortgage broker looking for a lender you can trust, look no further than Mortgage Street.
As Australia’s premier alternative lending solution, our mission is to empower our brokers to achieve their goals
Our goal at Mortgage Street is to provide you your customers with first-class service and innovative products to help you deliver solutions to your clients who don’t fit traditional lending criteria. But if your clients don’t qualify for a bank loan, Mortgage Street can always find alternatives. With 24 mortgage options available, we can help your customers find the right fit for their unique situation.
7 reasons why you should work with Mortgage Street
Mortgage Street is committed to providing a modern, efficient service to our clients. By distributing home loans through professional Australian mortgage brokers, we can offer a convenient and streamlined digital process that allows you to apply for a loan, submit documents, and track the progress of your application from the comfort of your own home.
Mortgage Street is committed to providing a modern, efficient service to our clients. By distributing home loans through professional Australian mortgage brokers, we can offer a convenient and streamlined digital process that allows you to apply for a loan, submit documents, and track the progress of your application from the comfort of your own home.
Mortgage Street is committed to providing a modern, efficient service to our clients. By distributing home loans through professional Australian mortgage brokers, we can offer a convenient and streamlined digital process that allows you to apply for a loan, submit documents, and track the progress of your application from the comfort of your own home.
A Mortgage Street accredited mortgage broker can help you to maximise your borrowing capacity by advising on the best loan structure and providing guidance on how to strengthen your application. This can be helpful if you have a complex financial situation or are self-employed.
If you are planning to purchase an investment property, a Mortgage Street accredited mortgage broker can help you understand the tax implications of negative gearing and advise on the best home loan options to suit your goals.
A Mortgage Street accredited Mortgage brokers have access to a wide range of lenders, including those that may consider larger loan amounts. This can be especially useful if you are looking to purchase a more expensive property or undertake extensive renovations.
Many lenders require mortgage insurance for home loans with a loan-to-value ratio (LVR) of over 80%. By working with a Mortgage Street accredited mortgage broker, you may access lenders that do not require mortgage insurance up to an LVR of 85%, saving you money on your loan.
How to Easily Place Business with Mortgage Street Mortgages – A Step-by-Step Guide for Brokers
Turbo charge your application for faster turnaround times
Mortgage Street focuses on what you and your customer needs.Submit a scenario now and we’ll help you every step of the way
Helpful guides & forms
- MSt 001 Customer Information Collection
- MSt 002 Payroll Authority form
- MSt 003 Loan Scenario form
- MSt 007 Applicant details verification
- MSt 011 Lo-Doc Declaration Accountants Verification
- MSt 012 Full Partial Discharge Authority
- MSt 013 Rate Review Form
- MSt 014 Gift Declaration Form
- MSt 015 Direct Debit Request
- MSt 028 Buying Your First House
- MSt 063 Bespoke broker premium
- MSt 067 Everyday transaction account
- Loan Application Documentation Checklist
- MSt 134 Request for Hardship Assistance
Don’t let your unique situation hold you back, explore the all mortgage options offered by Mortgage Street.
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Frequently asked questions
The highest loan-to-value ratio (LVR) that your clients can obtain with Optimax is 85%. While this LVR may be lower than some other options, Optimax offers more flexible terms and conditions that can better suit the needs of your clients. If you want to learn more about Optimax and how it can benefit your clients, please visit our website for more information. You’ll find more details about the product and how it compares to other options available on the market, making it easier for you to advise your clients.
The maximum loan amount that your clients can borrow with Optimax is $5,000,000 per single security, this high loan amount can provide your clients with the financing they need to purchase or refinance their property, whether it’s a residential or commercial property. However, it’s important to note that the loan amount will also depend on your client’s income, credit history, and the property’s value. If you’re interested in learning more about the terms and conditions of Optimax or want to know if your client would qualify, please visit our website for more information. You will find more details about the product and its features, as well as the requirements and the comparison with other loan options, making it easier for you to advise your clients. available.
Yes, Optimax products can accept Alt doc for GST registration. This means that if you are a mortgage broker looking for a GST-compliant solution, Optimax has you covered. Our products are designed to be flexible and adaptable to you & your customers’ needs, and we are proud to offer Alt doc as an option. We understand that every business is unique, and we strive to provide a tailored solution that meets you & your customers’ specific requirements. So, if you are interested in learning more about how Optimax can help your business, please visit our website to see what we have to offer. You’ll find that our products are innovative and user-friendly, making them a great choice for any mortgage broker looking to streamline their GST compliance process.
There is no minimum credit score required for Optimax products. A credit score of 700 and above opens up endless opportunities & infinite solutions to Mortgage broker introduced borrowers because it shows that the borrower has a good credit history, which is an important factor in determining loan eligibility.
If you are a mortgage broker interested in learning more about our credit requirements, please visit our website for more information. We have a team of experts who can help you understand our credit requirements and assist you in finding the best loan option for your clients, even if they have a credit score below 700.
Yes, Optimax products accept equity line of credit as a facility type. This means that if you are a mortgage broker working with clients who are interested in using their home equity to secure a line of credit, Optimax has a solution for you. Our products are flexible and adaptable to your clients’ needs, and we are proud to offer equity line of credit as an option.
If you are interested in learning more about how Optimax can help your clients with equity line of credit, please visit our website to see what we offer. You’ll find that our products are innovative and user- friendly, making them a great choice for any mortgage broker looking to offer equity line of credit to their clients.
The maximum interest-only repayment period for Optimax products is 10 years. This means that for the first 10 years of the loan, borrowers only have to pay the interest on the loan, rather than paying off any of the principal. This can make their monthly payments more manageable, especially for those who are looking for a short-term solution or have fluctuating income. However, it’s important to note that interest-only payments can be more expensive in the long run, as the entire loan amount will still need to be paid off, eventually. At Mortgage Street, we have a team of experienced mortgage brokers that
can help you understand the pros and cons of interest-only payments and help you find the best solution for your financial situation.
Yes, Optimax products do accept rural residential properties & Company title. However, financing these properties can be a bit more complex than financing a traditional urban property, as there are often unique considerations such as zoning and land use regulations. Contact Mortgage Street’s accredited mortgage brokers to learn more about how we can help you secure a loan for your rural and/or Company title property.
Yes, Optimax products do accept rural residential properties. However, financing a rural residential property can be a bit more complex than financing a traditional urban property, as there are often unique considerations such as zoning and land use regulations. Contact Mortgage Street’s accredited mortgage brokers to learn more about how we can help you secure a loan for your rural residential property.
Broker Support
Monday to Friday 9am – 5pm (Sydney time)
Frequently Asked Mortgage Product Questions
Optimax (Full Doc) rates at a glance
Key points
+LVR stands for the loan-to-value ratio. LVR is the amount of your loan compared to Mortgage Street’s independent valuation of your property offered to secure your loan expressed as a percentage. Home loan rates for new loans are set based on the initial LVR and won’t change during the life of the loan as the LVR changes.
*Comparison rate: The comparison rate is based on a loan of $150,000 over the term of 25 years. WARNING: This comparison rate is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate.
Loan applications, refinances and balloon amounts are subject to credit assessment.
Conditions, credit criteria, fees and charges apply. Based on Mortgage Street’s credit criteria, residential lending is not available for Non-Australian resident borrowers. Interest rates subject to change. Before making a decision, it’s best to read the terms and conditions.