Mortgage brokers plays a crucial role in helping Australians through the home loan process, and finding the lowest interest rates. Among the top mortgage brokers is Principal Mortgages, who have a loyal following thanks to their client-centred approach and comprehensive service offerings. This review delves into various aspects of Principal Mortgages, starting with the establishment of the company, highlighting their services, my personal experience with them, and reviews from verified customers, to help you decide whether you should speak to them about your own home loan needs.
Background and History of Principal Mortgages
Principal Mortgages was established in 2004 by Shaun Bettman, the director of the company. He had a vision of simplifying the home buying process for Australians by providing expert guidance and access to a wide range of mortgage products. Shaun has worked at ING and Commonwealth Bank, and brings with him over 20 years' experience in the Financial Services industry to his mortgage broking firm.
Over the last two decades, Principal Mortgages has expanded its services beyond residential mortgages to include commercial and investment property loans, reflecting its growth and adaptability in a dynamic market. Their commitment to maintaining transparency and integrity has been a significant factor in their sustained success, with thousands of customers trusting them with their home loans.
Services Offered by Principal Mortgages
Principal Mortgages works with over 40 lenders to provide their clients with a diverse range of mortgage products, catering to different needs such as first home purchases, commercial property investments, and refinancing options. Their experienced team will explain the entire mortgage and property purchase process to you, introduce you to a conveyancer if needed, calculate your borrowing capacity, help you decide on the best loan, negotiate the lowest interest rates, and guide you through the paperwork and documentation process.
If you have any questions about mortgages, from the start of your hunt for a property, through to post-settlement, their friendly staff will help you every step of the way. The best part is that their service is completely free of charge, and there is no obligation to use them even after speaking to them on the phone.
My Personal Experience
Working with Shaun Bettman and his team at Principal Mortgages was a great experience. Shaun demonstrated profound expertise and dedication throughout the mortgage broking process. His deep understanding of the intricacies involved in home loans was apparent, so I knew I was in safe hands.
From our first meeting, Shaun took the time to thoroughly understand my financial situation and what I was seeking in a home loan. He was patient in explaining the loan application process, clarifying which documents were required and why each was important. His team’s organisation was impeccable; they reviewed my documents promptly after submission, which streamlined the entire process.
Shaun presented me with several options from different banks, and highlighted the ones with the best rates and included an offset account, which I specifically requested. It was clear that Shaun was committed to finding the best possible home loan for me, and not just pushing me towards a particular lender. Additionally, Shaun offers financial planning and coaching services, which I found invaluable. These services helped me better understand my financial situation and prepare for the future.
Thanks to Shaun's guidance, I secured an excellent variable-rate loan with low rates and minimal fees. His expertise, combined with the impressive 98.5% loan approval rate at Principal Mortgages, assures me that he and his team can deliver exceptional results for all their customers.
Advantages of Choosing Principal Mortgages
Principal Mortgages has an extensive network of lender partnerships, ensuring clients have access to a wide range of mortgage products and competitive rates. It means they can cater to every client, even those with difficult circumstances, as evidenced by their high approval rate of 98.5%.
Their team is experienced and efficient, making the whole process quicker than other mortgage brokers, and certainly easier than attempting to obtain a home loan yourself.
Finally, Principal Mortgages is completely free of charge, with no upfront, ongoing, or hidden fees, and they offer 24/7 support with no obligation.
Industry Reputation and Accreditations
Principal Mortgages is well-recognised within the industry, and is ranked as #2 best mortgage broker in Sydney by the Canberra Times. All of their mortgage brokers are extremely qualified, and are Approved Credit Advisors with the Mortgage and Finance Association of Australia.
Since Principal Mortgages' establishment in 2004 they have helped over 1,000 happy customers, and approved over $500 million worth of loans, with a high approval rate of 98.5%. These numbers reflect the company’s hard work and dedication to helping their clients.
Cost and Fees
Principal Mortgages is transparent about their fee structure, which aligns with industry standards. They do not charge any fees to their clients, but instead earn a commission directly from lenders. This means that you can take advantage of their knowledge and experience without worrying about your budget.
No matter how many questions you ask, how long you spend comparing loan products, or how fast or slow the lender approval process is, you don't need to pay a cent to Principal Mortgages.
Customer Reviews
Principal Mortgages has an excellent reputation with their customers, and this is clear from the 5-star Google review rating from 130 reviews. Click here to read the reviews on Google, or have a look at a snapshot of them below. If you have used Principal Mortgages yourself, please feel free to leave your own review below.
Verified User Reviews
Shaun was extremely helpful throughout the entire process, from running preliminary scenario all the way to the end for the final settlement and even beyond.
As a first home buyer we felt we were in good hands. Shaun was always very patient and available to answer all our questions. And we had many!
I’d would not hesitate a second to recommend Shaun to my friends.
If you're looking for sound advice and a broker who will work tirelessly to get you the outcome you're looking for, Principal Mortgages should be your go-to.
Shaun was an invaluable aid in the purchase of my first property. He took the time to go through all of my finances and recommended a really thoughtful loan amount as well as explaining other options.
He handled all of the bank paperwork very efficiently and the entire process required little effort from me - allowing me to focus on house hunting! Shaun was always happy to talk through or explain concepts that I wasn't familiar with, being my first purchase.
He also recommended a great conveyancing service.
I would 100% recommend Shaun without hesitation.
Incredibly easy to work with, Shaun is very charming and made the whole process very easy and straightforward, even with the occasional issue that cropped up. I know now that there was a lot of effort and hours to work with the banks. Much happier that we didn't need to do it! I highly recommend Shaun to anyone looking for a mortgage broker.
We had a fantastic experience with Shaun from Principal Mortgages.
He was always very quick to respond/assist (even taking our calls during his family holiday) and managed to secure a great rate for our home loan.
His advice was invaluable, and he went above and beyond by recommending some ancillary services that assisted us with our purchase. Highly recommended.
Leave a Review
Conclusion
Principal Mortgages offers a comprehensive and client-friendly approach to home loans in Australia. With a strong emphasis on customer service, an extensive partnership with 40+ lenders, and a solid industry reputation, they are worth contacting regarding your mortgage needs. Whether you are a first-time homebuyer, a commercial investor, or somewhere in between, Principal Mortgages provides expert guidance and competitive financing options. For those considering using their services, jump on a free call with them, or visit their website to learn more.
