Why Choose Us?
We understand that our customers like choices and prefer to sometimes research and interact digitally. BYS mortgage combines the power of technology and excellent customer service to help customers find and apply for home loans that suit their specific needs across our panel of 20+ quality lenders.
No matter how you wish to interact with us, we believe that all Australians deserve access to quality and reliable mortgage solutions. So, we’re here to provide meaningful services, from the purchase of your first home right up to an invest property to support you in retirement.
Popular Services
Refinance Service
Refinancing involves paying out your current loan with a new one. Our refinance service can give you more flexibility with your money and let you adapt your loan to your changing life circumstances. We provide you with alternatives that better suit your circumstances and values.
Property Purchase Service
If you are buying any residential or commercial property, you will most likely have to pay land transfer duty. Our service will escort your house purchase process. We will guide you through all the steps, your serviceability and documentation so as to help you obtain a loan smoothly.
Bridging Loan Service
Bridge loans can help homeowners purchase a new home while they wait for their current home to sell. A bridge loan gives the homeowner some extra time and, more often than not, some peace of mind while they wait. We will help you apply the bridge loan.
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Common Questions
Why I need off set account?
If you are a saver, you may find that an offset account is more beneficial than a savings account, as you may earn less interest on a savings account than what you would save on your home loan. You also won’t be paying tax on the interest that you earn — instead, you will be building up valuable equity.
How much deposit required to buy a property?
Typically, 20% of the total home value is a good deposit target. You can avoid paying lenders mortgage insurance. If you have a small deposit, you can still get a loan, but you may need to take out Lender’s Mortgage Insurance (LMI), which will increase the cost of your loan. It also takes longer to pay off.
Buying property on Auction?
If you are bidding at an auction, you must be ready to exchange contracts and complete the sale. Otherwise, you will lose your deposit and may be liable for any damages suffered by the vendor. Buying property at auction generally means you have to face a high amount of competition for properties in high demand.
What is Comparison rate?
A comparison rate includes the interest rate as well as certain fees and charges relating to a loan. It is presented as a percentage and is calculated using a standard formula set by the government. The aim of the it is to help you identify the true cost of a loan and compare loans and services offered by financial institutions and mortgage providers.
How we get the best rates?
- Shop around. Contact several lenders.
- Improve your credit score
- Choose your loan term carefully
- Make a larger down payment.
- Buy mortgage points
- Rate locks.
- Refinance your mortgage
What is lender mortgage insurance?
Lender Mortgage Insurance (LMI) protects the lender when a borrower has a high loan-to-value ratio. It allows borrowers with smaller deposits to access home loans. LMI is a one-time payment, added to the loan, and is known as mortgage protection insurance. It is an important consideration for those buying a house with a small deposit.