Choosing a home loan can feel overwhelming, and it’s normal to have plenty of questions along the way. Our FAQs are here to give you clear, straightforward answers to the things clients ask most. From how brokers work, to what lenders look for, to what you can expect at each stage of the process. Whether you’re buying, refinancing, or just exploring your options, this is a simple place to get confident before you take your next step.

Frequently Asked Questions

  • Your borrowing power depends on income, expenses, debts, credit score, and lender policy. Each bank calculates it differently, so a broker compares multiple lenders to give you a realistic range.

  • Pre‑approval is a lender’s early confirmation that you’re likely to be approved for a loan. It strengthens your position when making offers and helps you search and negotiate for a property with confidence.

  • No. Part of a broker’s role is helping you understand what’s needed and guiding you through the document‑gathering process. You don’t need to be fully prepared before your first chat.

  • Typically: payslips, bank statements, ID, tax returns, and details of any debts. Your broker will guide you through exactly what’s needed.

  • Most home loans take 4-6 weeks from first conversation to settlement. Pre‑approval can often be obtained within 24–48 hours, depending on the lender. Complex scenarios (self‑employed, low‑doc, post‑separation refinancing) may take longer.

  • Brokers compare your situation against multiple lenders’ policies, rates, fees, and features — and must legally act in your best interests. Once the brokers research and comparison is completed, a lender recommendation will be presented that is suitable to your situation and requirements.

  • Best Interests Duty is a legal requirement that mortgage brokers must act in your best interests when providing credit assistance. They must recommend the loan option that is most suitable for your circumstances and clearly explain why.

  • Your broker guides you through signing loan documents, settlement timelines, and coordinating with your conveyancer until the keys are in your hand.

  • Stamp duty (if applicable), conveyancing, building/pest inspections, loan fees (including LMI), and moving costs. Your broker can help you estimate these based on your state and property type.

  • Banks can only offer their own products. Brokers compare dozens of lenders, understand complex lending policies, and know which lenders suit different borrower types (self‑employed, investors, first‑home buyers, etc.). They save you time, improve your approval chances, and often secure better outcomes.

  • Lenders Mortgage Insurance (LMI) protects the lender when your deposit is under 20%. It doesn’t protect you, but it can help you buy sooner with a smaller deposit.

  • A fixed rate stays the same for a set period. A variable rate can move up or down with the market. Your broker can help you understand which suits your budget and risk comfort.

  • Yes. Most lenders require two years of tax returns and financials, but low‑doc and alt‑doc options exist. Brokers understand how different lenders assess self‑employed income and can guide you through the documentation.

  • Yes. Many investors use equity as a deposit for their next purchase. You can typically access up to 80% of your property’s value, depending on the lender and your financial position.

  • Yes, each application leaves an enquiry. Brokers help minimise unnecessary applications by matching you to lenders that is suitable and fits your profile.

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