Have a question you need answered? Here are the answers to some of the questions you may have.
How long does this all take for me?
After the initial consultation, that generally takes around 30-45 minutes, we get to work immediately and give you our recommended solution within 2 business days (depending on number of loans and existing structure in place). From there, it will depend on how long it takes you to supply the supporting loan documents for the lender to determine exactly how long the process will take.
If all is well organized, we can get you a conditional approval in as little as 4 hours, but generally it takes around 3-5 days. A formal loan approval can be secured in as little as 2 days, but generally take up to 10 days to be issued. We will give you a concise checklist of exactly what is required to ensure the process is as efficient as possible for you.
If all is well organized, we can get you a conditional approval in as little as 4 hours, but generally it takes around 3-5 days. A formal loan approval can be secured in as little as 2 days, but generally take up to 10 days to be issued. We will give you a concise checklist of exactly what is required to ensure the process is as efficient as possible for you.
What’s different about Geronimo Finance vs the other finance brokers in the market?
There are around 15,000 finance brokers in the Australian market place as at October 2018. The difference between Geronimo Finance and most other brokers is that we specialize in accessing funding for property investors with multiple properties in their portfolio, or investors who are aspiring to reach that goal. As we have been building property investment portfolios for over 20 years, we understand what you are trying to achieve and have the knowledge and skills to make that a reality for you.
We currently have access to around 50 lending options (and are always looking for more options that may help investors) and understand there are more lending options available to you outside the “big 4”.
We currently have access to around 50 lending options (and are always looking for more options that may help investors) and understand there are more lending options available to you outside the “big 4”.
How often will I hear from you?
Once our loan process begins, we will be in contact every time there is an update or each Monday, Wednesday & Friday to let you know how your application is progressing.
Do you work with People who live outside of Sydney?
We certainly do! With access to tools such as google hangouts, skype and zoom, we can schedule a video conference call no matter where you are to help you achieve your goals.
I have a default on my credit file, can you still get me a finance approval?
The answer to this is yes! We work with partners who specialize clearing credit defaults from your credit file by knowing the laws that govern credit providers who wish to "default" an individual in Australia. The credit fix companies have a 90% success rate when challenging credit defaults in Australia. See our services page for more detail on how this service can help you.
I've been to other finance brokers and been told I am unable to borrow any more money, are you able to help me secure funding?
This is our area of expertise. Many investors come to us in the same situation and more often than not, we will be able to find you a solution to help you purchase more property or extract equity from your existing portfolio to put you in a position where you are "market ready".
How is Geronimo able to get finance approvals where others can't?
Like anything in life, the more you do something the better you become at it. We have been involved in property investment and accessing funding for it for over 20 years. That has given us the experience in solving many challenges, likely the very financing/funding challenges you are experiencing now.
Should I get a fixed or variable rate?
As a property investor, you need to be aware of what fixing an IO rate limits you to (if you have no owner occupied mortgage and have a lot of surplus cash available to use in an offset account). As an investor it does make sense to fix some of your loans if you are sure that property will not be required to change lenders and you have no intention to sell in the near future. We generally recommend fixing for no longer than 2 years though, as many things can evolve and change in your investment journey in that time.
Get in touch to discuss your personal situation.
Get in touch to discuss your personal situation.
When can I refinance my property?
We recommend reviewing your loan portfolio's every 12 months at a minimum to see whether there is any equity that can be accessed for future investment or whether there are any savings that can be made within your loan portfolio (cheaper rates). Locking in equity in the form of cash savings available to you is a really important part of being market ready, so you can act on a great investment deal when one comes up rather than seeing the deal and then rushing around to get access to equity to purchase that deal.
How much will a broker (your services) cost me? - Our brokerage charges are generally free, but there may be a charge if you have a very complex loan portfolio that needs to be reviewed (greater than 5 investment properties).
Contact us to see how we can assist you in building your portfolio
How much will a broker (your services) cost me? - Our brokerage charges are generally free, but there may be a charge if you have a very complex loan portfolio that needs to be reviewed (greater than 5 investment properties).
Contact us to see how we can assist you in building your portfolio