Why Specialist Lenders?
Properties have grown significantly in value. Tap into your equity at competitive rates for renovations, investment, or life events. Mainstream banks struggle with your income structure. Specialists approve fast with competitive rates.
What You'll Need
- Last 2 years tax returns
- Recent payslips or income documentation
- Employment/contract letters
- 6 months bank statements
How Much Can You Borrow?
Some specialist lenders may lend a higher multiple of your verified income, depending on their policy. Your actual borrowing power depends on your complete income assessment.
How Much Equity Can You Access?
Typically 80% of your property value minus your outstanding mortgage:
- • Property value: $700k
- • 80% available: $560k
- • Current mortgage: $380k
- • Can borrow: $180k
Common Uses
- Home renovation: Kitchen, bathroom, extension
- Investment property: Use equity as deposit on new purchase
- Debt consolidation: Pay off credit cards at lower rate
- Business investment: Fund your business expansion
- Education: Children's university or professional training
- Major life events: Wedding, health expenses
Why Equity Release Now?
Property values have grown significantly over the last 5 years. You may have usable equity available, depending on your property value and loan balance. Equity release lets you use that growth for your priorities without selling your home.
Our Approval Process
- Free assessment: We value your property and calculate available equity (a quick conversation)
- Lender match: We compare options to find a rate that may suit your situation
- Same-day response: we aim to reply the same day; approval timing varies by lender and how quickly your documents are ready
- Funds in hand: Funds are released at settlement, with timing depending on your lender
Ready to explore your options?
Call Mortgagefy for fast specialist lending designed for your profession in Bankstown.
0432 634 648