Am I eligible for a buyMyplace Finance home loan?

If you are over 18 and can meet our lending guidelines, any Australian Resident can apply for a buyMyplace Finance home loan.

How do I contact buyMyplace Finance?

If you want to apply for a home loan, call 1300 289 696 or fill in the contact form on the buyMyplace Finance website to be put in touch with a buyMyplace Finance Mortgage Broker.

What documentation do I need?

Depending on your circumstances and the home loan you have applied for, generally you need to supply the following:
o Completed and signed the Standard Application Form
o 100 Point Check (with accompanying identification) per applicant
o First Home Owner Grant application (if you’re a first home buyer)
o Signed copy of Contract of Sale (required for purchase only)
o 6 Months Home Loan Statements (required for refinance only)
o Rates Notice for existing property used as security (required for refinance/equity releases only)
o Copy of last 3 months’ loan statements for any loan to be paid out (required for loan consolidation only)
o Evidence of income – most recent payslip or letter from employer detailing conditions and most recent group certificate.

What Happens if interest rates go up or down?

If you have a variable rate loan and interest rates go up or down, we will recalculate your minimum repayment based on the new rate. We will write to you to advise your new minimum repayment. If you have a fixed rate loan, your rate and repayments will not change during the period of the fixed rate agreement.

What type of home loans do buyMyplace Finance offer?

buyMyplace Finance is a corporate credit representative of BLSSA Pty Ltd ACN 117 651 760 ACL 391237. buyMyplace Finance offers a full range of home loan products catering for most customer requirements. Compare hundreds of home loans from more than 30 lenders here.

What is the difference between a fixed and variable home loan rate?

A fixed rate loan means that the interest rate, which applies to your loan, will stay the same for the fixed rate period. For example, if you take out a 5-year fixed rate home loan, the interest rate will be the same throughout the 5-year term, which means you know exactly what your repayments will be during that term. A variable rate loan means that the interest rate will change throughout the life of the loan. At the end of your fixed rate term we switch you back to the variable interest rate for your home loan applicable at that point in time. For more information, please visit our knowledge centre on this topic.

What is lenders mortgage insurance?

Lender’s Mortgage Insurance, as the name states, protects the Lender not you as the borrower. Lender’s Mortgage Insurance (LMI) is a once off fee that normally applies to loans where the customer is borrowing more than 80% of the purchase price. LMI is scaled depending on the percentage you need to borrow (between 80 – 100%) and the amount of the loan (ie, $600,000).

What is the difference between offset and redraw?

A mortgage offset account can reduce interest on your loan. Your mortgage is linked to an account into which your salary and other cash can be deposited. You can then withdraw the funds to pay your bills. For example, if you have a loan of $200,000 and have $20,000 in your offset account, the amount of interest you pay will be calculated on only $180,000 ($200,000 – $20,000).

  • pros and cons of auctioning your home

    How It Works

  • how does real estate work

    Our Campaigns

  • how does real estate work

    Frequently Asked Questions

  • how does real estate work

    buyMyplace Difference