What our clients are saying

    "Marty was fantastic! We swore never to use a broker again after bad experiences with other brokers in the past, and our last loan we negotiated ourselves, however this time we needed a mortgage... " – Blake Millgate
    "It is impossible to exaggerate how highly I rate Mortgage Experts and my experience with Marty McDonald... " – Brendan Arlington
    "Mortgage Experts have provided a fantastic experience in an area that can be complicated and emotional. Marty was always clear and precise and always made time to discuss the matters at hand... " – Brett Parker
    "I was really impressed with Marty's services. He was responsive to emails and calls, considered a range of options, and kept me informed at every stage. He was also very patient... " – Elise Darsow
    "Marty was great to deal with. From initial contact to finding a perfect solution and strategy to our situation to then securing the funding in a tight time frame nothing was too much trouble... " – Nick and Blaise Porter
    "Great service! All the advice I've received in the past has been really helpful. Love the newsletters which keep me updated on developments in the market. Highly recommended! " – Nick Jolly
    "I have used Marty's mortgage brokerage service (Mortgage Experts). He has been professional, resourceful, gone beyond the call of duty in servicing my mortgage. He has been able to... " – Prithvi Moses
    "We’re both really happy to have been able to get this sale across the line and are particularly grateful for you finding us a way to make the finance work! Walking into our new home... " – Sarah Macdonald & Stewart Bovell
    "We found Marty McDonald from Mortgage Experts through a Google search because he had a hugely informative page about family trust loans. Choosing Marty as our broker was a huge blessing... " – Tracey Cools

85% home loans

85% home and investment loans

If you can’t quite manage to get a 20% deposit together to qualify for an 80% loan (and thus avoid mortgage insurance) the next best thing is an 85% home or investment loan.

With a 15% deposit or 15% equity in a property your application will be viewed favourably by most lenders and insurers provided you meet their other criteria.

85% loans are available for most purposes including owner occupied purchases, investment purchases and refinances.  Most lenders will allow some equity release or cash out for loans up to 85%. Some will have no restriction on the amount you can get as “cash out” while others may limit the amount to 20% of the total loan amount. All lenders will however require proof of what the funds are to be used for if the amount is above a certain figure say $40,000.

85% loans with no mortgage insurance

We used to have access to a few lenders who would waive the mortgage insurance fee for certain applicants. However at present there is only one lender in the market who will allow no mortgage insurance 85% loans. Call us or enquire online to discuss whether you would be eligible for a loan with no mortgage insurance  for your 85% loan. Generally 85% no LMI loans are only available for purchases. (This is correct as at August 2011)

This is a perfect product if you can't quite make the full 20% deposit required to avoid mortgage insurance and can literally save you thousands of dollars.

85% loans and genuine savings?

If you are purchasing a property having genuine savings or not having genuine savings will be one of the keys to determining which lenders will want your business. About half of our lenders do not require that you have 5% of the purchase price as genuine savings. Go to our dedicated genuine savings page for more details about what is and what isn’t considered genuine savings.

Which 85% loan is the best?

One of the keys to working out which loan will be best for you is the overall cost. While on the surface many loans will seem to have similar interest rates they will have different features, many will have hidden fees and whether or not you are eligible for no lenders mortgage insurance (LMI) costs can vary the cost of the loan by thousands of dollars.

At Mortgage Experts we can determine which lenders you qualify with and then recommend the loans that will best suit your needs.

Want to get a better idea where you stand?

Our Current Lender Panel

Lex Luther Enterprises Pty Ltd (ABN 58114636949) trading as “Mortgage Experts” is an Authorised Credit Representative (444479) of Martin Warren Thomas McDonald, Australian Credit Licence (391230) under s64(1) of the National Consumer Protection Act 2009.