Frequently Asked Questions
FAQs
What does a mortgage broker do?
A mortgage broker works on your behalf to find and arrange a suitable loan from a wide range of lenders. We assess your financial situation, recommend appropriate options, and manage the entire process—from application to settlement—saving you time, stress, and potentially money.
How are you paid for your services?
For most residential home loans, we’re paid a commission by the lender, meaning our services come at no cost to you. If any fees apply—for example, for complex or commercial lending—we’ll always be transparent and upfront.
How is using a broker different from going directly to a bank?
Banks can only offer their own products. As brokers, we have access to a broad panel of lenders—major banks, mutual banks, non-bank lenders, and specialist providers—so we can help you compare and choose the loan that best suits your needs.
Will using a broker affect my credit score?
No, not when we assess your position. We use tools that don’t impact your credit file. A formal loan application will register an enquiry on your credit report, but we’ll guide you through the process to ensure your application is well-prepared and timed appropriately.
How long does the loan process take?
It depends on the loan type and lender. A standard home loan may be approved within a few days, while more complex loans—like SMSF or commercial finance—can take longer. We’ll manage the process and keep you informed at every step.
Can you help with more than just home loans?
Yes. In addition to residential lending, we assist with investment loans, construction finance, refinancing, debt consolidation, business loans, commercial property finance, vehicle and equipment finance, and SMSF loans.
Do I need a deposit to get a home loan?
Most lenders require a minimum deposit of 5% to 20% of the property value, though some low-deposit and guarantor loan options may be available. We’ll help you understand what’s possible based on your circumstances.
How much can I borrow?
Your borrowing capacity depends on your income, living expenses, debts, dependents, and financial goals. We’ll conduct a detailed assessment and give you a clear picture before you begin your property search or loan application.
What documents do I need to apply for a loan?
You’ll typically need proof of identity, income (like payslips or tax returns), assets and liabilities, and information about the property or asset being financed. We’ll provide a tailored checklist to make the process as smooth as possible.
Do you provide support after my loan is approved?
Yes. We stay in touch to make sure your loan remains competitive and continues to meet your needs. We’re also here to help if your circumstances change or you want to explore refinancing or restructuring your loan in the future.
Are there any government schemes that can help me buy a home?
Yes, there are several government initiatives for eligible buyers, including low-deposit schemes, first home buyer grants, and stamp duty concessions. We’ll help you understand your eligibility and guide you through the application process.
First Home Buyer FAQs
I’m a first home buyer—where do I start?
The first step is understanding what you can afford and how the process works. We’ll help you work out your borrowing capacity based on your income, expenses, and financial goals, and talk you through what a deposit might look like. Then we’ll help you get pre-approval, so you can start house-hunting with confidence. You’ll know your budget and be in a stronger position to make an offer when you find the right place.
How much deposit do I need to buy my first home?
It depends on the lender, the loan, and your financial situation. Generally, a deposit of 5% to 20% of the property value is required. If your deposit is under 20%, lenders mortgage insurance (LMI) may apply—but there are government schemes that can help eligible buyers avoid LMI with as little as a 5% or even 2% deposit. We’ll explain what options are available to you and help structure your loan accordingly.
What is lenders mortgage insurance (LMI), and how can I avoid it?
LMI is a one-off insurance premium that protects the lender—not you—if you default on your loan. It typically applies if your deposit is less than 20%. However, if you’re eligible for a government scheme like the First Home Guarantee, you may be able to buy with a smaller deposit and avoid paying LMI altogether. We’ll let you know if you qualify and how much you can save.
What government schemes or grants are available for first home buyers?
There are several national and state-based schemes to help first home buyers enter the market, including:
- First Home Guarantee (FHBG): Buy with just 5% deposit and no LMI.
- Family Home Guarantee: For single parents—buy with just 2% deposit.
- Regional First Home Buyer Guarantee: Supports buyers in regional areas.
- First Home Owner Grant (FHOG): A cash grant for eligible buyers, usually for new builds or substantially renovated properties.
- Stamp duty concessions or exemptions: Offered in many states for eligible first home buyers.
We’ll walk you through what’s available based on your situation and location and help with the paperwork.
Should I get pre-approval before I start house hunting?
Yes—getting pre-approval is one of the most important steps. It tells you what you can afford, shows sellers you’re serious, and helps avoid disappointment. We’ll handle the application with the lender and explain what’s required to get it over the line.
Can I still get a loan if I have a HECS/HELP debt?
Yes. Having a student loan doesn’t prevent you from getting a home loan. However, typically lenders will treat your repayments as part of your regular expenses, which can slightly reduce your borrowing power although this varies from lender to lender. We’ll factor this into your assessment and recommend lenders that are more favourable for your situation.
What costs should I expect beyond the deposit?
In addition to your deposit, you’ll need to budget for things like stamp duty (unless exempt), legal fees, building and pest inspections, moving costs, and possibly lender fees. We’ll help you estimate these upfront so there are no surprises along the way.
What happens after I make an offer on a property?
Once your offer is accepted, we’ll submit the full loan application to the lender. If you have pre-approval, things can move quickly. The lender will conduct a valuation and, if everything checks out, issue a formal approval. We’ll stay by your side through to settlement—liaising with your conveyancer, lender, and any other parties involved.
Can I use a guarantor to help me buy my first home?
Yes. A guarantor—usually a parent—can use the equity in their property to help secure your loan, which can reduce or eliminate the need for a deposit or LMI. There are risks and responsibilities involved, so we’ll help everyone understand the implications and structure the loan safely.
What if I’m buying with a partner or friend?
You can absolutely buy with another person. Some government schemes require that both applicants are first home buyers and meet income thresholds. We’ll help structure the ownership and loan correctly, and make sure any scheme applications are done properly.
Homeowners FAQs
What does it mean to be an upgrader?
An upgrader is someone who is selling their current home and buying a new one—usually because their situation has changed, they want more space, a better location, or different features. Whether you’re upsizing, downsizing, or shifting for lifestyle reasons, we can help structure your loan to suit your changing needs.
Can I buy my next home before I sell my current one?
Yes, you can. This is often done using bridging finance, which allows you to access the funds for your new home before the sale of your current one settles. It can be a useful solution if you’re concerned about missing out on your next property. We’ll help assess whether bridging finance is right for you and make sure your cash flow is managed carefully during the transition.
How does loan structuring change when upgrading?
When upgrading, you might need to restructure your existing loan or take out a new one entirely. We’ll consider whether you’re selling, keeping your current property as an investment, or using equity. We’ll help you navigate the financial strategy that supports your long-term goals.
Do I need a deposit for my next property if I already own one?
Not necessarily. Many upgraders use equity from their current home instead of cash for a deposit. We’ll calculate your available equity and explain how it can be used to reduce your upfront costs.
What happens if I don’t sell my home in time?
If you’re relying on funds from your sale, timing matters. If the sale takes longer than expected, bridging loans can give you some breathing room. We’ll help assess the risk and run through all possible scenarios so you’re not caught off guard.
Residential Property Investors FAQs
Can I use the equity in my home to invest in property?
Yes. Many property investors use the equity in their existing home or investment properties as a deposit for their next purchase. We can help calculate your usable equity and access it through a top-up or separate loan.
How does rental income affect my ability to borrow?
Most lenders will include a portion of expected rental income in their borrowing calculations. How much they count—and how they assess risk—varies. We’ll compare lenders and show you how rental income can support your investment goals.
What are the most common loan features for property investors?
Interest-only loans, offset accounts, split loans, and fixed or variable rates are all common in investment lending. We’ll help you choose the right structure based on your strategy—whether you’re focused on cash flow, capital growth, or tax efficiency.
Should I use a different lender for my investment loan?
Sometimes it makes sense to diversify your lending relationships—particularly for tax, valuation, or serviceability reasons. We’ll assess whether it’s beneficial for you to stay with your existing lender or use a different lender.
I’m a first-time investor—can you help?
Absolutely. We’ll guide you through everything from structuring your loan and estimating returns to understanding your obligations as a landlord. Whether you’re buying your first investment or growing your portfolio, we’ll make sure your finance supports your goals.
Refinance a Home Loan FAQs
Why should I consider refinancing?
Refinancing can help you get a better interest rate, reduce monthly repayments, access equity, or consolidate other debts. It’s also a good opportunity to review your loan features and make sure your finance still aligns with your needs.
How do I know if refinancing is worth it?
We’ll run the numbers with you—comparing your current loan with what’s available. We’ll consider interest savings, any refinancing costs, and long-term benefits like cash flow or flexibility. If it makes sense to refinance, we’ll take care of the process.
Are there fees involved in refinancing?
Yes, there can be discharge fees from your current lender, government charges, and new application fees. However, many lenders offer refinance rebates or special deals to offset these costs. We’ll provide a clear breakdown before you make a decision.
How long does refinancing take?
It usually takes 1–3 weeks depending on the lender, but we’ll manage the process from start to finish. We’ll keep things moving and keep you informed at every step.
Can I refinance with my current lender?
Yes. Sometimes we can negotiate a better deal with your existing lender without a full refinance. We’ll explore this option alongside others and make sure you’re getting the best outcome.
Residential Construction Loan FAQs
What is a construction loan and how does it work?
A construction loan is a specialised loan that provides funding in stages as your new home or project is built. Instead of receiving the full loan amount upfront, the lender releases funds progressively—called “drawdowns”—as each construction milestone is completed.
What are the benefits of a construction loan?
The biggest benefit is that you only pay interest on the funds that have been drawn, not the full loan. This can significantly reduce your costs during the build period. We’ll work with your builder and lender to manage the progress payments and make sure everything stays on track.
What documents do I need for a construction loan?
You’ll typically need a fixed-price building contract, council-approved plans, a copy of the builder’s insurance, and a licensed builder. We’ll guide you through the checklist and help you prepare the application.
Can I build on land I already own?
Yes. We can arrange a construction-only loan to fund the build, or refinance your land loan into one package that includes construction. We’ll explain the pros and cons of each.
Can I get a loan if I’m an owner-builder?
Some lenders allow this, but it’s a more complex process. You’ll need a solid plan, a clear budget, and often more upfront equity. We can help assess your eligibility and explore alternative structures if needed.
Consolidate Debts FAQs
What is debt consolidation and how does it work?
Debt consolidation involves combining multiple debts—like credit cards, personal loans, or car loans—into a single loan, often secured against your home. The idea is to simplify your finances and reduce your overall interest costs. We’ll help you roll your debts into one manageable repayment, ideally at a much lower interest rate.
What are the advantages of consolidating my debt?
There are a few key benefits: you’ll reduce the number of repayments you need to track, potentially lower your interest rate, and improve your monthly cash flow. It can also help reduce financial stress and keep your credit profile in good shape if you’ve been juggling repayments.
Will consolidating debt impact my credit score?
Initially, your credit file will show a new enquiry when the loan is assessed. However, over the long term, consolidating debt can actually improve your credit rating if it means you’re making regular, on-time payments and closing old accounts. We’ll help structure the loan responsibly to support your financial goals.
Can I consolidate debt and access equity at the same time?
Yes, absolutely. If you have enough equity in your home, you may be able to consolidate your debts and also release additional funds for other purposes—like home improvements or savings buffers. We’ll help you decide what’s achievable and what’s wise.
Is debt consolidation always a good idea?
Not always. If you’re rolling short-term debt into a long-term loan, the total interest over time could be higher—even at a lower rate. That’s why it’s important to assess your whole financial picture. We’ll make sure the solution actually puts you in a better position.
Self Employed Borrowers FAQs
Can I get a home loan if I’m self-employed?
Yes. Being self-employed doesn’t stop you from borrowing—it just means the documentation process is a little different. We understand how to present your income and business structure in a way that meets lender criteria.
What income evidence do lenders need?
Typically, lenders will ask for the last two years of personal and business tax returns, financial statements, and sometimes BAS statements. However, if you don’t have full financials yet, there are “alt doc” options available with some lenders. We’ll let you know what’s suitable for your situation.
My income varies throughout the year. Will that be a problem?
Not necessarily. Lenders understand that self-employed income can fluctuate. Some assess income based on an average of the last two years, while others take the lower or most recent year. We’ll find lenders that take a common-sense approach and help package your application to highlight income stability.
Are interest rates higher for self-employed borrowers?
Sometimes but not always. If you have strong documentation, you will likely get a better rate. Where documentation is limited, rates may be slightly higher—but we’ll be transparent and help you compare.
Can I still access government schemes or benefits?
Yes—if you meet the eligibility criteria. Being self-employed doesn’t disqualify you from first home buyer schemes or other support. We’ll help you document your income clearly so that you can access all relevant benefits.
Self Employed Borrowers FAQs
Can I get a home loan if I’m self-employed?
Yes. Being self-employed doesn’t stop you from borrowing—it just means the documentation process is a little different. We understand how to present your income and business structure in a way that meets lender criteria.
What income evidence do lenders need?
Typically, lenders will ask for the last two years of personal and business tax returns, financial statements, and sometimes BAS statements. However, if you don’t have full financials yet, there are “alt doc” options available with some lenders. We’ll let you know what’s suitable for your situation.
My income varies throughout the year. Will that be a problem?
Not necessarily. Lenders understand that self-employed income can fluctuate. Some assess income based on an average of the last two years, while others take the lower or most recent year. We’ll find lenders that take a common-sense approach and help package your application to highlight income stability.
Are interest rates higher for self-employed borrowers?
Sometimes but not always. If you have strong documentation, you will likely get a better rate. Where documentation is limited, rates may be slightly higher—but we’ll be transparent and help you compare.
Can I still access government schemes or benefits?
Yes—if you meet the eligibility criteria. Being self-employed doesn’t disqualify you from first home buyer schemes or other support. We’ll help you document your income clearly so that you can access all relevant benefits.
Property Development FAQs
Can you help me finance a development project?
Yes. We will work with clients on small and large-scale developments—from duplex builds and townhouses to medium-density residential and commercial projects. Whether it’s your first project or your tenth, we’ll help secure the right funding.
What types of property development finance are available?
There are different loan structures depending on your stage and strategy. These include land acquisition finance, construction funding (with staged drawdowns), and residual stock loans for completed, unsold stock. We’ll match your needs to the right lenders.
Do I need to show experience to qualify for development funding?
Not always. Some lenders require previous development experience, while others are open to first-time developers if the deal is strong. We’ll help position your project and team to meet lender requirements.
Are pre-sales always required?
Not always. Some lenders insist on a certain number of pre-sales to manage risk, while others may be more flexible depending on your loan-to-cost ratio and location. We’ll structure the funding so it works for your timeline and goals.
What do lenders assess for development projects?
They’ll look at your project feasibility, the development team (builder, architect, project manager), planning approvals, sales strategy, and your equity contribution. We can assist in preparing these materials to strengthen your application.
Commercial Property Investment FAQs
Can I get a loan to buy commercial property?
Yes. We can arrange finance for offices, warehouses, retail premises, medical suites, and more. Whether buying personally, through a company, or via an SMSF, we’ll help tailor the loan to your structure and investment strategy.
What’s the difference between residential and commercial lending?
Commercial lending often requires a larger deposit (20–30%), has shorter loan terms, and the interest rates can vary based on risk and asset type. Lenders also place more weight on lease terms and tenant quality. We’ll walk you through the key differences.
What documents will I need?
You’ll usually need financials for any business or investment entity, details of the property, lease agreements, and possibly an independent valuation. We’ll liaise with your accountant or adviser if needed.
Can I refinance my commercial loan?
Yes. We can help clients refinance for better rates, to restructure lending, or to access equity for future purchases. Commercial finance is more negotiable than residential, so it pays to have us review it regularly.
Business Finance FAQs
What types of business finance do you offer?
We can assist with a wide range of solutions—working capital loans, overdrafts, invoice finance, trade finance, business acquisition funding, and expansion capital. We’ll help identify what suits your needs best.
Do I need property as security for a business loan?
Not always. Some lenders offer unsecured loans based on your cash flow or receivables. If you have strong financials, you may be eligible for funding without needing to tie up personal or business property.
What’s the process to apply for business finance?
We’ll start by understanding the purpose of the loan and your business position. Most lenders will ask for your financial statements, tax returns, bank statements, and business plan. We’ll package the application and manage it through approval.
Can you help with finance for a new or growing business?
Yes. While options are more limited for startups, we work with lenders who understand growth-stage businesses. We can also explore government-backed loans or low-doc solutions where appropriate.
Consumer & Commercial Asset Finance FAQs
What is consumer asset finance used for?
This type of finance helps you buy personal-use items like cars, motorbikes, boats, caravans, or even household equipment. It’s often a secured loan, with the asset acting as collateral.
Can I get pre-approved before shopping?
Yes—and we strongly recommend it. Pre-approval gives you a clear budget and puts you in a stronger position to negotiate when you’re ready to buy.
How quickly can I get approved?
Most asset finance applications are processed within 24 to 48 hours once documentation is submitted. We’ll work quickly to get you the best result without delays.
Are the interest rates fixed or variable?
Most consumer asset loans are fixed rate, which means you’ll know exactly what your repayments will be over the loan term. We’ll compare rates from multiple lenders to find the most competitive offer.
What assets can I finance for my business?
Vehicles, trucks, equipment, machinery, medical devices, IT systems, agricultural tools—you name it. If it helps your business operate or grow, we can likely help finance it.
What types of finance structures are available?
You can choose from chattel mortgage, finance lease, novated lease (for employee cars), or rental agreements. We’ll help you pick the structure that suits your tax position and cash flow.
Can I finance multiple assets at once?
Yes. You can bundle multiple assets into a single loan to simplify administration and align repayments. It’s a common strategy for growing businesses.
Do I need full financials to apply?
Not always. Many lenders offer low-doc or no-financials loans for businesses with strong turnover and good credit history. We’ll help you access the most appropriate solution.