Frequently Asked Questions

A mortgage broker acts as an intermediary between borrowers and lenders and helps apply for a mortgage loan on behalf of the borrower. Rest assured that a mortgage broker always acts in the best interest of the borrower and they help to find the best loan with the best interest rate that fits the borrower's financial situation, needs and goals.

A mortgage broker has access to more lenders and different loan options which can help a borrower get a more suitable loan and a better rate. Using a mortgage broker can also save a borrower time and effort during the application process.

We do not charge our clients, our service is free. We are paid a commission fee by the banks/lenders.

The ideal deposit is 20% of the purchase price but you can purchase a home with as little as 5% depost. Different lenders have different requirements and policies when it comes to how much deposit they require but most will charge a lenders mortgage insurance (LMI) if your deposit is below 20%.

LMI stands for Lenders Mortgage Insurance and is an premium that protects the lenders in the event that the borrower is unable to repay the loan. A borrower needs to pay LMI if their deposit is below 20% and this can be paid upfront or capitalised into (added to) the home loan.

There are different types of home loan (fixed, variable, split, construction loans, etc.) with different features such as redraw, offset account, line of credit, etc. and the type of home loan that one should choose will vary from person to person. In general, you should choose the home loan with the lowest interest rates that matches your goals, needs and current situation. Please contact us so we can find out more about you and we will recommend which home loan would suit best.