Banks usually offer only their own financial products, limiting your options. Mortgage brokers, however, work with multiple lenders and can compare different loan products to find one that suits your specific needs. Brokers serve your interests and act as a bridge between you and lenders.

Mortgage brokers have deep market knowledge and tools to help you find competitive interest rates and the right loan features. They save you time, provide access to a variety of loan products, and guide you through the entire process from application to settlement.

Yes, pre-approval gives you a clear budget and signals to sellers that you are a serious buyer. It helps you move quickly when the right property appears and gives you an edge in competitive markets.

The comparison rate reflects the true cost of a loan, incorporating both the interest rate and most fees and charges. It helps borrowers accurately compare loan products by presenting a single percentage figure.

Yes, most property purchases in Australia require payment of stamp duty, which varies by state or territory, property price, and whether you are a first home buyer. Some exemptions or concessions may apply.

The FHOG is a government incentive offered to eligible first home buyers, usually applied towards the purchase or construction of a new home. Grant amounts and criteria vary across states.

A fixed rate loan keeps your interest rate constant for a set period, offering stability. A variable rate loan can change over time, often offering flexibility and additional features like redraws and extra repayments. A line of credit lets you borrow against the equity in your property and only pay interest on the amount used.

Bridging finance helps you purchase a new property before selling your existing one. It usually involves interest-only repayments during the bridging period and is paid off once your old home is sold.

Yes. Each lender has its own assessment criteria based on risk appetite, income type, expenses, and other financial commitments. That’s why your borrowing capacity can vary significantly between banks.

Yes, a conveyancer is crucial to handle all legal aspects of buying or selling a property. They ensure the property title is transferred correctly and manage all necessary documentation and checks.

Yes, refinancing allows you to switch to a new lender or loan product to get a better rate, access equity, or consolidate debt. It’s essential to weigh costs like exit and application fees before refinancing.

A split loan lets you divide your mortgage into both fixed and variable portions. This offers a balance of repayment certainty and flexibility to make extra payments or access features like redraws.

LMI protects the lender, not the borrower, when the loan-to-value ratio (LVR) is high (usually above 80%). It allows you to buy with a smaller deposit, but it adds an extra cost to your loan.

Yes. A guarantor, usually a family member, can use the equity in their property to reduce your LVR, potentially avoiding LMI. This option comes with financial responsibilities for the guarantor.

Pre-approval is an indication you qualify for a loan based on initial checks. Unconditional approval means the lender has fully verified your documents and approved your loan application.

Construction loans release funds in stages aligned with the building process. You only pay interest on the amount drawn down. Each stage, like slab, frame, lock-up, must be certified before funds are released.

LVR is the percentage of the property value that you’re borrowing. A higher LVR (above 80%) typically requires LMI. A lower LVR often means better interest rates and less risk to lenders.