Relocation loan
Financing a move? What are the options of the clients? It actually sounds logical: When buying a new home, first sell your existing property and use the proceeds to buy your new home.
Relocating to a new home can be an exciting, but also a stressful time. It can be difficult to navigate the mortgage process, especially when it comes to finding a loan that fits your unique needs. That’s where Mortgage Street comes in.
As a trusted mortgage broker, you can rely on us to provide your customers with the support and guidance they need during their relocation journey. We understand that each customer has unique circumstances, which is why we offer a wide range of loan options to fit their specific needs..
Our relocation loan options include:
Low down payment options for those who may not have a large amount of savings
Flexible terms and rates tailored to your customer’s financial situation
Streamlined application process to make it easy for them to apply
Fast approval and closing times, so they can move into their new home as soon as possible
Our team of experts are here to help you & your customers every step of the way, ensuring a smooth and stress-free relocation process. Partner with Mortgage Street, and let us help your customers find the perfect loan for their new home.
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.
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.
Working with a Mortgage Street accredited professional mortgage broker means you can benefit from their expertise and industry connections. This can often result in faster approval times, as brokers are able to expedite the loan assessment process and provide lenders with the information they need to decide.
Each lender has their own credit policies, which can vary significantly. By working with a Mortgage Street accredited mortgage broker, you can access a wider range of lenders and take advantage of more flexible credit policies that may be better suited to your individual circumstances.
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.
Negative gearing considerations
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.
No mortgage insurance to 85% LVR
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.
Turbo charge your application for faster turnaround times
Fill up the MSt 003 and get low rates within a day
Complete the MSt 001 for ready to submit a new application
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
Don’t let your unique situation hold you back, explore the 24 mortgage options offered by Mortgage Street.
Good Borrowers
| Ultra prime I | Premium I |
| Ultra prime II | Premium II |
| Ultra prime III | Premium III |
| Super prime I | Optimax I |
| Super prime II | Optimax II |
| Super prime III | Optimax III |
Specialist loan
| Tolerant I | Progressive I |
| Tolerant II | Progressive II |
| Tolerant III | Progressive II |
| Receptive I | Liberal I |
| Receptive II | Liberal II |
| Receptive III | Liberal III |
Reloaction loan
Interest rates for relocation loans can vary depending on the specific terms of the loan. We currently offer only variable rates for our relocation loans. The interest rate that you’ll receive on a relocation loan is based on a variety of factors, including the loan amount, the loan-to-value ratio, and the creditworthiness of the borrower. To ensure that you receive the most accurate and competitive rate, we recommend completing our MSt 003 form.
It’s important to keep in mind that interest rates can change frequently, so it’s a good idea to check with us regularly to ensure that you’re getting the best rate possible. Remember, as a mortgage broker, you can complete our MSt 003 form for any of your clients looking for a relocation loan. This will enable you to provide them with the most up-to-date and accurate rate available, and that can make all the difference when it comes to deciding about relocating. By providing you with the competitive rates for relocation loans, we are confident that you will find working with us is a seamless experience, and you will want to come back to us for your next client’s relocation loan needs.
The terms and conditions for a relocation loan can vary depending on the specific loan product. Our relocation loans have a maximum loan term of 18 months for the purchase of a property, 24 months for construction, or on sale of the initial property. We structure the loan in two parts; a Transitional portion and a Residual portion. The Transitional portion is used to support the original property that the borrower will vacate, while the Residual portion is used to support the acquisition of the new property. Borrowers make monthly repayments, which can be either interest only or principal and interest, for the loan supporting the original property (the Transitional portion).
Interest on the loan supporting the original property (the Transitional portion) is capitalised on the loan supporting the acquisition of the new property (the Residual portion) for the term of the Transitional portion. This allows the borrower to have access to the funds for the new property while they are still selling their original property. This is a unique feature of our relocation loan and can make it a great option for borrowers looking to move to a new property while they still have an existing property. As a mortgage broker, we recommend you to visit our relocation loan page to know more about the detailed terms and conditions of our relocation loan, as well as to compare it to other loan options and to find the one that best suits your client’s needs.
Yes, there are generally fees associated with a relocation loan. These fees can vary depending on specific requirements and circumstances. At Mortgage Street, our relocation loan fees are generally $995.
It is important to keep in mind that these fees may be different depending on the type of loan; the amount being borrowed and other factors. It is always best to check with a mortgage broker to understand the specific fees associated with your loan.
At Mortgage Street, we understand that every customer’s situation is unique, and we work closely with our customers to ensure that they have all the information they need to make an informed decision. To learn more about the fees associated with a relocation loan and other loan options, visit our website or reach out to one of our accredited mortgage brokers today.
The process for loan refinancing and whether it is possible to refinance a relocation loan during the period of the loan can vary depending on the specific loan product. It is possible to refinance a relocation loan during the period of the loan. However, as with any loan refinancing, there are certain criteria that need to be met. Borrowers will be assessed based on their current financial status, credit history, and the loan terms they are looking to refinance into. We recommend you visit our website to learn more about the specific requirements and processes for refinancing a relocation loan with us
Additionally, you can also talk with our accredited mortgage brokers who will be more than happy to provide the details and answer any further questions. This way you will be well equipped to advise your clients about refinancing options available for them with us.
We, Mortgage Street, made the process for application and underwriting for a relocation loan simple and streamlined. The first step is to complete our MSt 003 form. This form will provide us with all the information we need to get the application process started. The MSt 003 form is designed to be easy to complete, and it will help to ensure that all of the necessary information is provided in a clear and concise manner. Once we receive the completed MSt 003 form, one of our accredited mortgage brokers will review the application and will be in touch to guide you through the next steps of the process. We are committed to providing a fast and efficient service and we will work with you to ensure that your clients’ applications are processed as quickly as possible. As a mortgage broker, you can visit our website to learn more about the detailed process of application and underwriting for a relocation loan with Mortgage Street, as well as to find more information about other products and services that we offer.
The maximum loan amount for a relocation loan is $5,000,000. The loan-to-value ratio (LVR) for a relocation loan will depend on the type of loan and the documentation provided by the borrower. For full documentation loans, the maximum LVR is 85% of the combined value of the properties, while for alternative documentation (alt-doc) loans, the maximum LVR is 80% and the maximum loan amount $3,000,000. It’s important to note that the LVR and loan amount may also be affected by other factors, such as the creditworthiness of the borrower, the specific loan product, and the overall market conditions. As a mortgage broker, we recommend you to visit our relocation loan page to learn more about the specific LVR and loan amount requirements and how they may affect your clients’ relocation loan. Our accredited mortgage brokers are always on hand to assist you and your clients with any questions or concerns regarding the maximum loan amount and loan-to-value ratio for a relocation loan.
The typical time frame for loan settlement can vary depending on the specific loan product and the type of documentation provided by the borrower. The turnaround time for loan settlement is usually 3-6 weeks from the date of a fully and comprehensively completed application. However, it’s important to note that the loan settlement time frame may be affected by external factors such as property valuations and legal requirements. It’s a good idea for the mortgage broker and the client to discuss the potential timeline for loan settlement, considering the specific circumstances of the client and the requirements of the loan product. By providing a comprehensive application and having all the necessary documentation ready, the settlement process can be expedited. As a mortgage broker, you are encouraged to visit our relocation loan page to learn more about the specific time frame and settlement process for relocation loans, as well as to find more information about other products and services that we offer. We are committed to providing you and your clients with a fast and efficient service and we will always strive to have your loan settled as soon as possible.
Generally, relocation loans are in a variable rate, and at Mortgage Street, we do not charge a penalty for paying off a variable relocation loan early. This means that if you decide to pay off your loan before the end of the loan term, you may not be subject to any additional fees.
It’s always important to read the fine print and understand the terms of your loan before signing on the dotted line. Our website offers a wealth of information on relocation loans and mortgage options, including how to avoid unnecessary fees. We have the resources and expertise to help you make the best decisions for your financial situation. Visit our website to learn more and find the perfect loan for your needs.
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+LVR stands for the loan-to-value ratio. LVR is the amount of your loan compared to the Bank’s 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.
