Frequently Asked Questions

Typically, you'll need at least 5-20% of the property price. With a 20% deposit, you avoid paying Lenders Mortgage Insurance (LMI). First home buyers may qualify for government schemes that allow purchases with just 5% deposit without LMI.

In most cases, our services come at no cost to you. We receive a commission from the lender when your loan settles. We'll always be transparent about any fees before you commit to anything.

Pre-approval can take 1-3 days with most lenders. Full approval typically takes 1-2 weeks, depending on your situation and the lender. We work to expedite the process wherever possible.

Generally, you'll need: proof of identity (passport/driver's licence), proof of income (payslips, tax returns), bank statements, details of assets and liabilities, and information about the property. We'll provide a complete checklist during your consultation.

It depends on your circumstances and risk tolerance. Fixed rates offer certainty, while variable rates offer flexibility. Many clients choose a split loan with both. We'll help you understand the pros and cons of each option.

Yes, we work with a range of lenders, including some that specialize in non-conforming loans. We'll assess your situation and find options that may work for you, even if you've had credit issues in the past.

LMI is insurance that protects the lender (not you) if you default on your loan. It's typically required when your deposit is less than 20% of the property value. LMI can cost anywhere from $5,000 to $40,000+ depending on the loan amount and deposit size.

Pre-approval (conditional approval) is an indication of how much you can borrow based on your financial situation. It's usually valid for 3-6 months. Formal approval (unconditional approval) is when the lender has assessed everything including the property and confirms they will lend you the money.

We have access to over 50 lenders, including major banks (CBA, ANZ, Westpac, NAB), second-tier lenders, and specialist lenders. This allows us to compare a wide range of products to find the best fit for your situation.

Most variable rate loans allow unlimited extra repayments. Fixed rate loans often have limits (typically $10,000-$30,000 per year) before break costs apply. We'll help you find a loan with the flexibility you need.

An offset account is a transaction account linked to your home loan. The balance in this account is "offset" against your loan balance, reducing the interest you pay. For example, if you have a $500,000 loan and $50,000 in your offset account, you only pay interest on $450,000.

Consider refinancing if: you're paying a higher rate than what's currently available, your fixed rate is ending, you want different loan features, you want to access equity, or your financial situation has improved since you got your loan. We can do a quick comparison to see if refinancing makes sense for you.