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Soren Financial is an independent finance brokerage, established to educate clients through the thousands of financial products on offer in the market. Tailored to suit individual requirements. Learn More
We can connect you with experts who can help facilitate the entire purchase process. This includes the following services: Conveyancers, Tax Agents, Real Estate Advisors and Independent Valuers.
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We have specialised services to help clients through every stage of the buying process, whether you are a first home buyers looking to navigate the available grants, or a professional investor looking to make a purchase via your self-managed super fund or family trust.
Whether you are a new home buyer or a seasoned investor, we will recommend the best products and lenders to suit your unique situation. You will always have regular updates from our team, and we will liaise with your advisors (accountants/solicitors/real estate agents/conveyancers) to make sure that everything is moving in the forward direction.
Traditionally business owners have to jump through more hoops to get their finance deal across the line and although many lenders offer products to you, we want to make sure you have the correct documentation and can get your approval first go this is one of the services that we specialise in. You will be provided with a fact sheet to complete and we will align your expectations with the right lender and the product that suits you and your situation.
At a time when lenders are adverse to risk, your development needs to be a solid project and a great track record. Get in touch so we can discuss your project and the different products to suit.
Short term business loans can provide your business with a much needed cash flow boost especially during these challenging times. One of the main advantages are that short term business loans are traditionally from non-bank lenders and hence they are often far easier to secure and more importantly the turn around time is much faster.
Asset finance enables you to access business assets such as equipment, machinery and vehicles without having to invest/lock up your own business capital. It can also allow you to release cash from the value in assets you already own or use your existing assets as security against a business loan from an asset finance lender. We have access to a wide range of products that will suit your business needs.
A construction home loan is a type of home loan designed for people who are building a home or doing major renovations, as opposed to buying an established property. It has a different loan structure to home loans designed for people buying an existing home.
A construction loan most commonly has a progressive drawdown. That is, you receive instalments of the loan amount at various stages of construction, rather than receiving it all at once at the start. You generally only pay interest on the amount that is drawn down, as opposed to on the whole loan amount.
We source financial products from over 40 different lenders and we are accredited by the following lenders
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Frequently Asked Questions
A good mortgage broker will do allot more for you than simply acquire a mortgage/loan for a borrower. You could search for loans or a mortgage online yourself but this process will not give you the expertise/knowledge required to navigate the best option for you. This is where allot of people make a critical mistake, there is allot more to a mortgage than interest rates.
Of course, part of a brokers job is to minimise the time, money/cost/fees that you would be required to pay for a loan or mortgage, they also assess which lender will loan you the money you require to facilitate your purchase however that is not the full scope of services.
A mortgage broker will run an assessment on your specific scenario, search across all the banks/lenders in Australia to see what the best option is for you. Your mortgage broker will act in your best interests, organise a pre approval, compare rates and negotiate with the bank to get your application to formal approval and eventually to settlement of your home loan.
Navigating the 45 different lending institutions on our panel and the multiple mortgage products that each of these lenders offer, can be daunting and this is before you consider the application process. Our mortgage brokers act in best interests of our clients, to find the right lender and the right home loan.
Mortgage brokers know the ins and outs of home loans and the mortgages/loans industry. Things such as how to reduce fees such as establishment fees or lenders mortgage insurance (LMI).
Our mortgage brokers will provide expert advice that will guide you through the process and provide you with loan options to help you towards getting the best deal possible for your situation.
The mortgage brokers at Soren Financial will handle the entire home loan process starting with your assessment/ pre approval. Your broker will then work with you to obtain your formal approval and get your home loan to the final stage of loan settlement.
Interest rates are not the only consideration when you compare mortgages/home loans. The role of our mortgage brokers is to assist you with picking the right financial institution and negotiate mortgage terms on your behalf.
Items such as the loan amount, a lower interest rate, lender fees, monthly repayments, as well as providing ongoing support even after your home loan has settled is all part of our business/broker service.
Items such as negotiating a better deal, the interest rate and fees paid once your fixed period has expired with lenders, or looking for ways to save on fees/cost moving forward and to make sure you are on a good deal as a home buyer, is all part of the service of a mortgage broker at Soren Financial.
Consumers need to recognise that a loan officer in lending institution will only offer you their suite of loans and products usually around 7 products, a broker will have access to hundreds of different loan products.
This is the main reason why walking into a bank is not the best course of action as they may have loan products that may not suit your exact loan scenario.
It is our job as your mortgage broker to find you the right home loan/particular product that will provide you with across all 45 lending institutions.
At Soren Financial we start with a preliminary assessment to check if you are applicable for a mortgage/loan and the type of loan and lender that suits your particular scenario. Our mortgage brokers will make sure that all 45 lenders are part of your assessment, you are given full transparency of the assessment process and you are placed in the right loan.
Once the mortgage brokers assessment is completed, they will present back the top 5 options out of 45 lenders we have access to. Our mortgage broker will give our recommendations and arm you with the information required so you can make the right decision and choose the best loan/lender for you.
· No, if compare rates provided by the banks VS what a Soren Financial mortgage broker can offer and they are exactly the same. The money or borrowing capacity is also the same as well as any bank fee/cost you need to pay.
70% of home loans written in the Australian market are written by mortgage brokers. In fact in some cases, it is more financially beneficial to go via a mortgage broker, as we can have certain fees waived when we are negotiating your mortgage/home loans on behalf of borrowers.
Even though a mortgage broker acts in your best interests, we are paid upfront fees by the lenders/banks of your choosing.
Some mortgage brokers will also charge upfront fees for advice to their client. Soren Financial only do so for complex matters such as property purchases within companies/trust structures with multiple directors or home grant applications. Reach out to us for clarification.
As a borrower, there are multiple ways you can do your research when it comes to choosing a mortgage broker. Any advice that we provide will be viewed as biased so we believe in letting past customers do the talking:
- Have a look at your mortgage broker online reviews. Soren Financial use google and rate my agent which shows feedback from real customers proving real time experiences they had with us through their mortgage/lender experience.
- Ask the mortgage broker for references of past clients that the brokers have, any good business will have past clients who will vouch for their service
Ask the broker how many lenders they have on their panel and if you as the borrower need to pay any fees for their services to acquire a loan/mortgage. If yes, what are these costs and also what does this fee cover.
Your dedicated mortgage broker will give you expert advice around the best way to obtain/access a mortgage and which lender/loan is best suited to your needs.
Even if you are not ready now, a Soren Financial mortgage broker will give you guidance around the best way to prepare for your mortgage application and which lender or lenders we should be aiming to access credit/money from.
A Soren Financial mortgage broker will always be upfront and honest with you, we will never place you in a loan/mortgage or lender that does not suit your current situation at the time of your loan/mortgage application.
If you need to pay a fee/money or if there is an applicable fee, we will be upfront with you. That way you as the borrower, will be notified by your mortgage broker prior to your loan application.
A Soren Financial mortgage broker will always act in the best interest or interests of our clients and take this into account as your represented mortgage broker.
For mortgage brokers to give credit/mortgage advice as well as recommendations regarding interest rates and which lender/loans suit borrowers in Australia, they have to carry an Australian credit licence or work under a mortgage and finance association that does or they need to have a credit representative number.
Borrowers can rest assured that if the mortgage broker belongs to one of these associations, they as the borrower and their respective mortgages are covered under compliance and legislation.
The mortgage broker compliance sits under their accreditation and their membership to a mortgage and finance association. Many brokers in Australia will belong to the main organisations which are Finance Brokers Association of Australia (FBAA) or Mortgage and Finance Association of Australia (MFAA).
Soren Financial aggregate through Finsure and are a member of the FBAA.
The reason this is important to you as customers is because you want to make sure that your mortgage broker is carrying out his compliance responsibilities as this does affect you if you ever have an issue that you wish to dispute.
As part of our compliance, Soren Financial is a member of the FBAA and our credit license details can be found at the bottom of our website.