Liberty FAQs

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Frequently Asked Questions

Are Liberty Financial easy to get home loan with?

While Liberty Financial may not necessarily position themselves as being ‘easy’ to get a home loan with, they are one of the more flexible options on the Australia market. That is, they make getting a mortgage more accessible to those who may otherwise struggle, such as the self-employed and those with a poor credit history without a large deposit. They also offer low-doc home loans, to make it easier for small business owners who don’t have access to the documents required to obtain a traditional mortgage. Liberty Financial allow you to borrow up to 95% of your property value, which means you would only need to have a deposit of 5%. However, it’s important to remember that more lenience often means higher interest rates. So, it’s best to work with a broker to ensure a home loan with Liberty Financial is the right choice for you.

Do Liberty Financial do interest only home loans?

An interest only home loan is when you only pay the interest charged on the loan during a set period — meaning your principal balance remains the same. This generally mean your repayments will initially be lower, but once your interest-only period finishes you will still need to pay off your loan amount. As you will then have less time to pay off your mortgage, those repayments will then become far higher. Their Liberty Star Home Loan does offer the option to make interest-only repayments. You may also be able to choose an interest-only home loan in one of their custom packages.

How do I apply for a Liberty Financial mortgage?

Before you apply for a Liberty Financial home loan, you should have a good idea of the price of the property you want to purchase, which mortgage product you’re after and how much you will need to borrow. Working with a mortgage broker is the easiest way to compile all of this information and set yourself up for a successful application. Then, you can apply on their website for an indicative pre-approval amount. At this stage, you will need to provide:

  • Your name and contact details, such as your email address and phone number
  • Loan details, such as the amount you want to borrow and the value, size and location of the property
  • Financial information, such as your expenses and income
  • Employment information, such as your current work status
  • Credit background, such as any infringements

It’s important to note that this is not your official approval, but rather a guide to how much you could borrow. You will then be asked to provide all necessary documentation, including identification and payslips.

You can also start the application process for a Liberty Financial mortgage by contacting them on 13 11 33 or filling out the contact form on their website.