Frequently asked questions

A mortgage broker assesses your objectives and financial position, compares suitable options from the lenders available to them, explains the costs and features, recommends a lending strategy, prepares the application and manages it through approval and settlement.

A bank can generally discuss only its own products and policies. A broker can compare multiple lenders and identify differences in borrowing capacity, credit policy, valuation, loan structure, features and total cost. A broker does not cover every lender in the market, so you should ask which lenders are on their panel.

Lenders generally pay brokers an upfront commission and an ongoing trail commission after a loan settles. Any commission and any direct fee payable by you must be disclosed. If we propose a client-paid fee for a particular service or complex transaction, we explain it in writing before proceeding.

Yes. When providing credit assistance to a consumer, Australian mortgage brokers are required to act in the consumer's best interests and prioritise the consumer's interests where a conflict exists. The recommendation must still be based on your documented needs, objectives and circumstances.

Borrowing capacity depends on income, living expenses, existing debts and credit limits, dependants, the proposed loan term, deposit, property, interest-rate buffers and each lender's policy. Online estimates are useful starting points, but a policy-based assessment is more reliable before you make an offer.

A 20% deposit plus purchase costs can avoid lenders mortgage insurance in many standard applications, but some borrowers may qualify with a smaller contribution. Profession-based policies, guarantor arrangements and government schemes may change the amount required. You should also retain funds for duties, legal costs, inspections and a cash buffer.

LMI generally protects the lender—not the borrower—if a loan is not repaid and the property sale does not clear the debt. It commonly applies at higher loan-to-value ratios. The premium varies and may be payable upfront or added to the loan, subject to lender approval.

Pre-approval is a conditional indication that a lender may lend up to a stated amount based on the information assessed. It is not unconditional approval: the property, valuation, documents, lender policy and your circumstances must still be acceptable. Pre-approvals commonly have an expiry period.

Common requirements include identification, payslips or business financial information, bank statements, evidence of savings, details of debts and living expenses, and documents relating to the property. The exact list depends on your employment, entities, loan purpose and lender.

Timeframes vary with the lender, valuation, application complexity, document quality and current processing volumes. A straightforward, complete application may be assessed quickly, while complex income, trust or commercial structures can take longer. We confirm realistic timeframes before important contract dates.

A fixed rate can provide repayment certainty for the fixed period but may restrict extra repayments and involve break costs. A variable rate can move and often offers greater flexibility. A split loan combines elements of both. The suitable structure depends on your cash flow, plans and tolerance for rate changes.

An offset is a separate transaction account whose balance reduces the loan amount used to calculate interest. Redraw is access—subject to the loan terms—to extra repayments already made into the loan. Fees, access rules and tax outcomes can differ, particularly when a property may later become an investment.

A comparison rate combines the advertised interest rate with certain standard fees and charges using a prescribed loan amount and term. It can help identify some cost differences, but it may not reflect your actual loan size, term, package fees, features or all transaction costs.

Refinancing may be worthwhile where the expected benefit from a lower rate, better structure or useful features exceeds discharge, application, valuation, settlement and any fixed-rate break costs. It is important to calculate the break-even period and avoid extending the term in a way that increases total interest.

Potentially. Usable equity depends on the lender's valuation, permitted loan-to-value ratio, existing debt, borrowing capacity and the purpose of funds. Equity is borrowed money rather than cash profit, so repayments, risk and the proposed use should be assessed before proceeding.

It may reduce monthly repayments and interest rates, but converting short-term unsecured debt into a long home-loan term can increase total interest and places the debt against your property. A suitable strategy considers the new repayment period, costs and how further unsecured debt will be avoided.

Yes. Lenders may assess tax returns, financial statements, BAS, business bank statements, accountant information and eligible add-backs differently. The business history, income trend, entities and liabilities determine which full-document or alternative-document pathways may be available.

A formal credit application usually creates a credit enquiry on your credit report. Several unnecessary applications can complicate an assessment, so it is generally better to compare policy and likely suitability before lodging. You can obtain your own credit report free from a credit reporting body at least every three months.

Interest-only repayments can support short-term cash flow but do not reduce principal and usually cost more over time. Principal-and-interest repayments reduce debt. The choice depends on your strategy, cash flow, pricing, future borrowing needs and tax advice from a qualified adviser.

After formal approval, loan documents are issued and must be completed correctly. Your conveyancer or solicitor coordinates the property and settlement requirements while the lender verifies outstanding conditions, insurance and funds. We track those steps, assist with lender requirements and confirm when the loan is ready to settle.