Question 1

What services does FGS Finance provide?

Accepted Answer

FGS Finance is a full-service finance brokerage based in Brisbane. We specialize in Home Loans, Car Loans, Business Finance, Commercial Lending, and Personal Loans. We compare options from over 40 lenders to find the best solution for your needs.

Question 2

Do you charge a fee for your services?

Accepted Answer

In most cases, our service is free to you. We are paid a commission by the lender you choose for settling the loan. If a fee is ever applicable for complex commercial scenarios, we will disclose this upfront.

Question 3

How are you different from a bank?

Accepted Answer

A bank can only offer you their own products. As brokers, we have access to over 40 lenders, including major banks, second-tier lenders, and specialist funders. This allows us to shop around and find the policy and rate that best fits your unique situation.

Question 4

Where are you located?

Accepted Answer

We are located at Taigum, QLD 4018. However, we service clients across Brisbane and Australia via phone, video call, and email.

Question 5

How much deposit do I need for a house?

Accepted Answer

Generally, lenders prefer a 20% deposit to avoid Lenders Mortgage Insurance (LMI). However, many lenders allow deposits as low as 5% with LMI. There are also government schemes available for first home buyers that can help with lower deposits.

Question 6

What is Lenders Mortgage Insurance (LMI)?

Accepted Answer

LMI is an insurance policy that protects the lender (not you) if you default on your loan. It is usually required if you borrow more than 80% of the property's value. The cost is a one-off fee added to your loan amount.

Question 7

Can I get a loan if I'm self-employed?

Accepted Answer

Yes! We specialize in self-employed lending. While some major banks have strict criteria, we have access to lenders who look at alternative documentation like BAS statements or business bank statements instead of just tax returns.

Question 8

How quickly can I get approved for a business loan?

Accepted Answer

For unsecured business loans and equipment finance, approval can often be achieved within 24-48 hours. Commercial property loans typically take longer, similar to home loans, usually 3-4 weeks.

Question 9

Do I need financials for a car or equipment loan?

Accepted Answer

Not always. We have 'Low Doc' and 'No Doc' options for ABN holders who have been trading for over 12-24 months and have a clear credit history. This allows you to purchase vehicles or equipment without providing extensive tax returns.

Frequently Asked Questions

General

Home Loans

Business & Commercial

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