Our values and philosophy

We understand

We understand that the lending process can be complicated and often daunting. Our consultants take the time to listen and understand your unique circumstances and long-term property aspirations, working closely with you to get you into a property sooner than anticipated.

We solve problems

We don’t take a cookie-cutter approach to lending. Instead we focus on the individual and find solutions that address challenges. We’re upfront, transparent and here to answer any questions with straightforward information to help you navigate the lending playing field.

We’re innovative

We’re here to shake up the industry and offer you the personal service and care that the big banks and other lenders can’t. Because we’re a boutique business, we have the agility to adapt our products to the market, meaning greater responsiveness and benefits to our clients.

We’re flexible

We understand your time is valuable and we want to make life easy for you. You can drop into our offices for a chat, arrange a Skype or FaceTime consultation or speak to one of our helpful consultants over the phone, even after hours.

Our philosophy

Our primary objective is to provide valueable mortgage capital solutions combined with hands-on customer service to ensure a positive lending experience. To achieve this goal we seek to understand our clients' needs and individual financial situation and tailor our financing package to help them meet their long-term mortgage capital requirements. With direct access to our loan officers, we ensure that each and every client understands the options available to them and the steps for loan approval and a timely closing.

Our approach of being a responsible mortgage lender and operating with integrity, respect, and disciplined underwriting practices is fully integrated into our business model. Our intention is to maintain and act upon a long-term view in the way we conduct our business and serve our clients. Our goal to continuously improve and expand our business rests on our adherence to this code of conduct and its guiding principles.

Popular questions

+ How long does the approval process generally take?

From the time you have submitted your application and all of the necessary supporting documentation, it generally takes 4 to 6 weeks before approval.

+ How much deposit do I need?

We offer loans with a minimum of just 5% deposit provided you meet all of the necessary criteria.

+ Can I get pre-approved for a loan?

Yes, we can pre-approve you for a loan so that you know how much you’re eligible to borrow and make sure you’re ready and able to purchase as soon as you find a property you like. We evaluate your financial situation and assess your ability repay a loan, then grant conditional pre-approval to borrow up to a certain amount.

+ What documents do I need to provide?

Requirements differ slightly from loan to loan, with lo-doc loans requiring less documentation than full-doc loans, however you can expect to need proof of the following: your primary income (in the form of payslips, PAYG summaries, bank statements showing direct salary credits and employment contract), proof of any additional income, evidence of your savings history, details of your existing credit commitments and any purchase documents (such as a Contract of Sale) if you are being approved for a specific property. On top of this you will need original certified copies of your ID (drivers license or passport). Your consultant will provide more specific details on the documentation required for your chosen loan product.

+ What does LVR mean?

LVR stands for Loan to Value Ratio, and is a measure of your loan amount against the value of your property. A loan amount of $640,000 on a $800,000 home value would represent an 80% LVR.

+ What is a High LVR Home Loan and Investment Loan?

Most Banks and Lenders allow loans of up to 80% LVR, so you can borrow 80% of the value of your home. Most Banks and Lenders, will allow you to borrow up to 90% LVR, however you will need to meet further lending criteria and pay a Lenders’ Mortgage Insurance. A high LVR loan is a loan that allows you to borrow between 90% - 100% of the value of the property. These loans are very rare and not available by many Banks and Lenders.

+ What is Lenders’ Mortgage Insurance?

Lenders’ Mortgage Insurance, known as LMI, is an Insurance policy that is taken out by the bank or Lender to protect them in the scenario that a borrower defaults on a loan and the sale of the property is insufficient to cover the loan balance owing. LMI is generally mandated when a loan exceeds 80% LVR , that is when the loan amount is greater than 80% of the value of the property, and the premium is paid by the borrower, even though the borrower is not protected by the policy. LMI is expensive and can cost between 1.2% and 4% of the value of the loan, so on a $600,000 LMI can cost around $20,000.

+ Why do your loans have no Lenders mortgage insurance?

Piety Money offer some High LVR Loan that do not have, Lenders’ Mortgage Insurance (LMI) as the loan portion above 80% LVR is funded by Piety Money, and we do not require LMI, nor do we impose stricter lending criteria. This innovative loan offering will save a home buyer between $15,000 - $40,000.

+ What is the maximum I can borrow on a Home Loan and Investment Loan?

The maximum single loan that Piety Money can offer is between $1,500,000 and $3,000,000. The actual maximum loan amount will be dependant on your personal circumstances, the property you are buying and the LVR you are borrowing. Speak to one of our loan consultants at money@piety.com.au and they can discuss your options.

+ I am a foreign resident can I borrow to buy a property

Yes, of course. Piety Money has specialist loan product for non-residents requiring to borrow to buy a property. Speak to one of our loan consultants at money@piety.com.au and they can discuss your options.