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Our point of difference lies in offering not only expert mortgage guidance but also direct access to a dedicated team of in-house professionals who can help bring your broader financial goals to life.
Our Mortgage Brokers will
Evaluate your needs
Calculate your borrowing power
Compare your home loan options
Get pre-approval
Offer ongoing support and advice
Home Loan Tips
Explaining the Loan Process
Sometimes the best way to get an understanding of home loans, how it all works and how to choose the right one, is to speak to a broker in person.
Checklist of Required Loan Documents
This is a general checklist and you may not need some of them. We can help show you which ones you need.
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Home Loan Guides
If it's your first home, or if it's time to renovate, refinance or invest, we're here to make it happen.
Get started with our free guides:
First Home Buyers Guide
Fixed vs Variable Loans
Interest Rate Rise
Investing Guide
Refinancing Guide
Why Use a Broker Guide
Explore our Calculators
Check out the Money Smart calculator to see how much money and time you could save on your mortgage.
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Your privacy is important to us and Coastline Advice, which is part of Akumin. You may request access to your personal information at any time by calling us on (03) 5264 7700 or contacting Akumin on 1300 157 173. Information collected will be subject to Akumin’s Privacy Policy. You can also contact us or Akumin if you do not wish to receive information about products, services or offers available from us or Akumin from time to time.
What Coastline Advice Stands For
Authenticity
We are real people that genuinely want to see you achieve the future you want.
Connection
We are locals, living and breathing where we work and sharing a passion for our local community with our clients.
Outcomes
We partner with our clients to help them achieve their ideal lifestyle, whatever that may be.
Frequently Asked Questions
Can I make an extra repayment on my loan?
Making extra repayments towards your loan is an effective way to pay off your home loan faster. Nevertheless, it’s important to be clear on what this means for your loan type.
Variable rate home loan:
If you have a variable rate home loan or loan split, you can make unlimited additional repayments into your home loan. If your home loan includes a redraw feature, you might also have the option to withdraw these surplus funds if necessary. It’s important to take into account that depositing or withdrawing funds into/from your loan account could impact the minimum monthly repayment requirement.
Fixed rate home loan:
While it’s possible to make extra repayments into your fixed rate home loan or loan, there is a limit on how much you can pay each year. Fees may be applicable if you exceed the specified limit. Additionally, it’s crucial to be aware that any supplementary payments will be locked into your loan for the duration of the fixed term, barring any withdrawals.
If you would like to make any changes to your loan repayments, contact us at 5264 7700 to explore the available alternatives
Can I make changes to my fixed loan?
Fixed rate home loans offer an assurance that the interest rate won’t change over the duration of your loan, giving you more certainty around your repayments.
If you’d like to make alterations to your loan, refinance, or sell your property prior to the conclusion of the fixed rate term, you will be required to cover a break cost fee. This fee is calculated on expenses incurred at the moment you make modifications to your home loan and can be substantial.
To know more about your options and the costs of breaking your loan, call us on 5264 7700.
Can I change from principle and interest repayments to interest only?
Interest-only payments are frequently opted for by homeowners and investors seeking to manage their cash flow and leverage potential tax benefits. This arrangement entails that you solely cover the accruing interest that is charged to your loan.
Opting for an interest-only loan entails the following:
- Your scheduled payments will not diminish the principal amount of the loan. As a result, your payments will not contribute to the increase in equity of your property during the interest-only period.
- Your loan might carry higher interest rates compared to loans that necessitate repayment of both the borrowed amount and the interest.
- Once the interest-only period concludes, you will be obligated to make principal and interest repayments. These payments will be larger than if you had been making combined principal and interest repayments right from the commencement of your loan.
Your eligibility must be assessed for you to quality for an interest only payment. Speak to our team on 5264 7700 to explore your options.
I’m refinancing, what do I need to do?
Your Coastline Advice Home Loans broker is able to assist you through the process of discharging your existing loan for a smooth experience.
Initiating the process involves filling out and signing a discharge form. Within this form, you will be required to provide the necessary contact information, which is typically the representative for your new lender. Ask your Coastline Advice Home Loans broker for help if you’re not sure who this contact might be.
The discharge process might take up to 21 days, so it’s advisable not to delay until the last minute. In instances where the details are complex, a partial discharge might require additional time.
If you’re not using a broker, we encourage you to contact us at your earliest convenience. This way, we can discuss the procedure and ensure a smooth discharge process.
Can I skip a mortgage payment and add it on at the end?
Speaking to a Coastline Advice Home Loans broker can provide you with multiple options for repaying your debt when you do not have the funds to do so. One option is to skip mortgage payments and add them to the end of your loan. This will not erase the debt but extend your loan term and assist you in the short term.
Some lenders have financial help programs that can assist you in freezing your repayments for up to 6 months. You are required to prove that you are experiencing a financial crisis and not have the funds to repay your loan.
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