Frequently Asked Questions
Common questions about mortgage brokers, home loans, fees, and the lending process in Australia.
A mortgage broker is a licensed professional who acts as an intermediary between you and lenders. Rather than approaching one bank, your broker compares home loan products across 30+ lenders to find the most competitive option for your situation, then manages the entire application through to settlement.
No. Our service is free for the vast majority of residential loans. The lender pays us a referral commission when your loan settles. All commissions are fully disclosed before we begin, and we are legally required to act in your best interests under Australian credit law.
A bank can only offer its own products. A mortgage broker compares options across dozens of lenders, including major banks, second-tier lenders, and specialist providers, to find the deal that genuinely suits your circumstances. We also handle the paperwork, negotiate on your behalf, and manage the process end to end.
Lenders pay brokers a commission made up of two parts: an upfront commission (a percentage of the loan amount paid at settlement) and a trailing commission (a smaller ongoing amount while the loan remains active). Brokers must disclose all commissions to you in writing before you proceed.
We start with a free, no-obligation consultation to understand your goals. We review your financial situation, explain the different loan product types, discuss current interest rates, and determine your borrowing capacity. You will leave with a clear picture of your options and next steps, no pressure to commit.
Pre-approval (also called conditional approval) is a lender's indication that they are willing to lend you a specific amount, subject to conditions such as a satisfactory property valuation. It typically takes 1–3 business days and is usually valid for 90 days. Having pre-approval gives you confidence when house hunting and shows vendors you are a serious buyer.
Most lenders require a minimum 5% deposit for first-home buyers, though a 20% deposit avoids the cost of Lenders' Mortgage Insurance (LMI). We can also explore guarantor options where a family member uses their property equity to support your application, potentially allowing you to borrow with a smaller deposit.
LMI is a one-off insurance premium that protects the lender, not the borrower, when your loan exceeds 80% of the property value (i.e. your deposit is less than 20%). The cost varies depending on the loan amount and LVR, and it is usually added to the loan. A guarantor arrangement can help you avoid LMI entirely.
Typically you will need: recent payslips (or tax returns if self-employed), bank statements for savings and transaction accounts, photo ID (passport or driver's licence), details of existing debts and credit cards, and a summary of your monthly living expenses. We provide a comprehensive checklist at your first meeting so nothing is missed.
Stamp duty is a state government tax charged on property purchases. In Victoria, the amount depends on the property's value, whether you are an owner-occupier or investor, and whether you qualify as a first-home buyer. First-home buyers in Victoria may be exempt from stamp duty on properties up to $600,000, or receive a concession on properties up to $750,000. We can estimate your stamp duty during the initial consultation.
A fixed rate locks in your interest rate and repayment for a set period (usually 1–5 years), giving you certainty. A variable rate moves up or down with the market, offering more flexibility, including the ability to make extra repayments and access offset accounts. Many borrowers choose a split loan that combines both. We help you decide which structure fits your situation.
Yes. Our relationship does not end at settlement. We conduct annual rate reviews to make sure your loan remains competitive, help with loan modifications or refinancing, and are always available to answer questions. If a better deal emerges, we will let you know.
Absolutely. We work with lenders who specialise in investment lending and can advise on structuring your loan for tax efficiency, including interest-only repayments, negative gearing strategies, and accessing equity in an existing property to fund your next purchase.
All mortgage brokers in Australia must hold an Australian Credit Licence (ACL) or be an authorised Credit Representative under a licensee. You can verify credentials by searching ASIC's Professional Registers at moneysmart.gov.au. Our ACL number is displayed in the footer of this website, and we are members of industry bodies including the FBAA.