FREQUENTLY ASKED QUESTIONS

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FREQUENTLY ASKED QUESTIONS -

General FAQ’s

  • A mortgage broker helps you find the right home loan by comparing multiple lenders. We save you time, find the best rates and terms, and guide you through the application process from start to finish.

  • Using a mortgage broker gives you expert advice, access to a wide range of lenders, and help navigating paperwork. A broker can often save you money and make the home loan process much easier.

  • Mortgage brokers are usually paid a commission by the lender once your loan settles. This means our service is free for you, with no upfront cost.

  • Yes! Brokers work with lenders who understand non-standard income, self-employment, or unique financial situations, helping you secure a loan that fits your needs.

  • From your first conversation to settlement, the process can take a few weeks to a few months, depending on your circumstances and the lender’s requirements.

  • Absolutely. Brokers can review your current loan, compare rates and features, and help you refinance to reduce repayments, access equity, or get better loan terms.

  • No. You choose the lender. A broker presents your options and provides advice, but the final decision is always yours.

  • We’ll need details about your employment, income, expenses, assets, and liabilities, along with supporting documents and an understanding of your goals. This allows us to assess your position accurately and match you with the most suitable lenders and loan products.

Finance FAQ’s

  • LMI is a one-off insurance cost that protects the lender if you borrow more than 80% of the property value. It doesn’t protect you, the borrower, but may be required for smaller deposits.

    There are ways to minimise or avoid LMI depending on your situation.

  • A fixed rate locks in your interest rate for a set period, giving predictable repayments. A variable rate can go up or down with the market, offering flexibility and the ability to make extra repayments. We can help you choose the option that suits your budget and goals.

  • An offset account is a transaction or savings account linked to your home loan. The balance in this account reduces the amount of your loan that interest is calculated on.


    For example: if your home loan is $500,000 and you have $50,000 in your offset account, you only pay interest on $450,000.

  • LVR is the percentage of the property’s value you are borrowing. For example, borrowing $400k on a $500k home is an 80% LVR. It affects interest rates, lender requirements, and LMI.

  • - Principal & interest (P&I): You pay both the loan balance and interest, reducing debt over time.
    - Interest-only (IO): You only pay interest, keeping repayments lower but the principal stays the same.


    Choice depends on strategy, budget, and investment plans.

  • Yes. Lenders usually assess your credit commitments, not just what you actually repay. Even if you pay your balance in full, lenders often assume you might only pay the minimum monthly amount when calculating your borrowing capacity.

    This means a credit card with a $10,000 limit could be counted as a $300–$400 monthly repayment obligation.

    Tip: Keeping limits low or closing unused cards can improve borrowing capacity, but we can also advise how lenders view them on a case-by-case basis.

First Home Buyers FAQ’s

  • Most first home buyers need between 5% and 20% of the property price as a deposit. You may also be eligible for other government schemes that can reduce your upfront costs. Smaller deposits may require Lenders Mortgage Insurance (LMI), which adds to your cost.

  • Buying a home comes with extra costs like:

    • Stamp duty (State Government tax)

    • Legal or conveyancing fees

    • Loan application or establishment fees

    • Building and pest inspections

    • Insurance, moving costs, and ongoing maintenance

    It’s important to plan for these so there are no surprises.

  • Your borrowing capacity depends on your income, expenses, debts, and lifestyle. A pre-approval gives an indication of how much a bank is willing to lend. We can run the numbers for you and show what repayments and contribution you’d need at different loan amounts.

  • A pre-approval tells you how much a lender is willing to loan you, based on the information you provide. It gives you confidence when making an offer on a property. Final approval is only confirmed once all documents are submitted and the bank assesses the property.

  • Yes! There are a number of programs to help first home buyers, including:

    • First Home Owner Grant (FHOG)

    • First Home Guarantee Scheme

    • Help to Buy Scheme

    • Stamp duty concessions in some states

    Eligibility varies depending on your income, property price, and location. It's worth talking to a broker to understand all options.

  • Yes - a family member can act as a guarantor to help you get into your first home with a smaller deposit and possibly avoid Lenders Mortgage Insurance, but they take on risk if you can’t make repayments.

Investor FAQ’s

  • Yes - you can extract equity from an existing property to fund a new purchase. It’s important to get up-to-date valuations to see how much equity is available and how lenders will assess it. We can guide you on the best strategy to unlock and use equity safely.

  • Yes - most lenders include rental income when calculating your borrowing capacity. However, they may apply a discount or buffer to account for periods of vacancy or expenses. We can help you structure the loan and choose a lender that treats rental income most favourably.

  • Yes - changing loan terms or consolidating debts can free up borrowing capacity. Paying down or removing obligations like HELP loans, credit cards, buy-now-pay-later accounts, or novated leases can make a big difference.


    We review your financial position and recommend restructuring strategies tailored to your investment goals.

  • It’s best to get independent valuations on all properties. Comparing the valuations lets you see which property has the highest available equity. This helps make strategic decisions about which property to leverage first.

  • It depends on your investment strategy and cash flow goals. Interest-only loans can improve short-term cash flow, while principal & interest loans reduce debt over time. We help investors choose the structure that best aligns with their tax position and long-term plans.

  • Some lenders consider the tax benefits of negative gearing when assessing your borrowing capacity. This can improve serviceability in certain scenarios. We can identify lenders that factor this in more favourably and structure your loan accordingly.

Construction FAQ’s

  • A construction loan is released in stages (progress payments) as the build is completed. Interest is only charged on the funds drawn, not the full loan amount. Each stage is paid after the builder invoices and the bank approves the work completed.

  • Yes, most lenders require a fixed-price contract before approving a construction loan. This gives the bank certainty around the total build cost and reduces risk. Variations after approval can impact your loan and may need lender sign-off.

  • The deposit is based on the total cost of land plus construction. Deposit requirements are similar to standard loans, but some lenders are stricter. We can help structure the loan to minimise upfront cash where possible.

  • Yes, lenders can use an estimated rental appraisal for investment builds. Different lenders treat this income differently during assessment.

  • Once the build is finished, the loan usually converts to a standard home or investment loan and is generally principal and interest. You can then choose features like offset accounts, redraw, or rate splits. This is also a good time to review the loan structure to ensure it suits your long-term goals.

  • For a construction loan, lenders typically require the following construction-related documents in addition to standard ID and income proofs:

    • Fixed-price building contract - a signed contract with your builder outlining all costs of the build.

    • Council-approved building plans and permits - proof that your build complies with local regulations.

    • Builder’s insurance - covering risks during construction such as fire, theft, or damage.

    • Construction schedule / progress payment schedule - detailing stages of construction and when payments will be required.

    • Land title or contract for land purchase - if the land is already owned or being purchased separately.

    • Engineer’s or architect’s reports (if required) - sometimes needed for structural, site, or soil approvals.

    • Valuation report - lenders usually require a bank-approved valuation of the land and/or completed build to assess equity and risk.

SMSF FAQ’s

  • An SMSF (Self-Managed Super Fund) is a super fund that you and your trustees control. You decide how the fund is invested, giving you more flexibility and control over your retirement savings. You are responsible for compliance, reporting, and investment decisions.

  • Any Australian resident with understanding of super rules can set one up. It’s best suited for people who want control, flexibility, and potential cost savings on larger balances.

  • Yes - SMSFs can invest in residential or commercial property, either directly or via a related trust. The property must be for retirement purposes, not personal use. Interest rates for SMSF loans are generally higher than standard home loans. We work closely with your accountant and financial planner to structure the purchase and ensure full compliance with super rules.

  • SMSFs can borrow to invest in property using a Limited Recourse Borrowing Arrangement (LRBA). Borrowing is restricted and must comply with strict superannuation rules. We guide clients through loan structures, lenders, and compliance requirements.

  • Most advisers recommend $200,000-$250,000 to make an SMSF cost-effective. This covers accounting, audit, compliance, and allows meaningful investments. Smaller balances may find the costs outweigh the benefits.

  • Costs include:

    • Establishment and ongoing accounting or audit fees

    • Legal and compliance costs

    SMSFs are generally more cost-effective for larger balances.

Commercial FAQ’s

  • Yes - banks and non-bank lenders offer loans for commercial property purchases. Lending criteria are usually stricter than for residential properties, and interest rates are generally higher. We can help identify the best lender and structure for your situation.

  • Deposits are usually 20-30% of the property value, depending on the lender, asset class and your financial position. Lenders may also consider your experience, business performance, and rental income when assessing.

  • Yes - interest rates are usually higher than residential loans. Commercial loans often have additional fees, such as:

    • Valuation costs

    • Establishment fees

    • Ongoing account-keeping fees

    We can help you compare lenders and structure the loan to minimise costs.

  • Securing a commercial loan for business expansion involves several steps. You’ll need a well-prepared business plan, detailed financial statements, and potentially collateral. Collaborating with a lender experienced in commercial finance can provide valuable guidance and improve your chances of approval.

  • Commercial loans offer flexibility and can be used for multiple purposes, including purchasing real estate, expanding operations, acquiring equipment, or managing cash flow. Assessing your business needs is crucial to determine the best way to utilise the loan for growth.

  • Yes - lenders offer commercial development loans to fund new builds, redevelopments, or refurbishments. These loans are typically higher risk, with stricter lending criteria, higher interest rates, and fees. Funding is usually released in progress payments as construction milestones are met. We can help structure the loan, manage approvals, and ensure compliance so your project runs smoothly and within budget.