Mortgage Broker FAQs

A broker compares loans from a panel of lenders, recommends one that suits you and manages the application to settlement. Unlike a bank, we can show you options from 50+ lenders.

Usually by the lender, not you. The lender pays an upfront commission after settlement and a smaller ongoing (trail) commission. We tell you the amounts before you apply, and our Credit Guide explains it in full. A fee may apply in some cases, such as complex commercial loans; we'll agree it with you first.

Yes. Since 2021 the Best Interests Duty in the National Consumer Credit Protection Act requires brokers to act in your best interests and put your interests first if there's a conflict.

Yes, by ASIC. Brokers must hold an Australian Credit Licence or be an authorised credit representative, and belong to the Australian Financial Complaints Authority (AFCA).

No broker does. We work with 50+ banks and non-bank lenders on our aggregator's panel and can tell you who's on it.

It depends on your income, living costs, debts and the lender's assessment rate (rate plus 3%). Use our calculator for an estimate, then ask us for a lender-by-lender figure.

Usually 5–20% of the price plus costs. Eligible first home buyers can buy with 5% and no LMI under the 5% Deposit Scheme.

LMI protects the lender, not you, if you borrow more than 80% of the property's value. It's a one-off cost, often added to the loan. Some professionals and first home buyers using government schemes can avoid it.

Pre-approval often takes 1–2 weeks and formal approval a few days to two weeks after you find a property. It depends on the lender's workload and how complete your application is.

There's no single cut-off. Major banks generally prefer a good to excellent score and a clean recent history; specialist lenders accept more. Check your report first with our online Credit Check.

Photo ID, recent payslips (or 2 years' tax returns if self-employed), 3 months of bank and savings statements, and statements for existing loans and cards.

Yes. Pre-approval usually lasts 90 days and shows sellers and agents you're ready.

Yes. Most lenders want 2 years of tax returns; some accept 1 year or alternative documents (low-doc) at a higher rate.

Sometimes, through specialist lenders, usually at a higher rate and with a larger deposit. We'll tell you honestly what's realistic.

Variable gives flexibility and offset access; fixed gives repayment certainty but can carry break costs. Many people split their loan between the two.

A transaction account linked to your loan. Its balance is subtracted from your loan balance when interest is calculated, so savings reduce your interest.

It lets you take back extra repayments you've made. Lenders may set minimums or fees, and redraw can be restricted.

The ability to move your existing loan to a new property when you sell and buy, avoiding refinancing costs.

Interest-only lowers repayments for a while but doesn't reduce the debt and usually costs more in rate. Ask your accountant about the tax side.

Generally, interest on money borrowed to buy an income-producing property is deductible. Confirm with a registered tax agent.

By structuring loans so each purchase doesn't block the next: separate loans, sensible buffers, and choosing lenders in the right order. We plan this with you.

When your rate is noticeably above what's available, your fixed term is ending, or you need features or equity your current loan can't provide — and the savings outweigh switching costs.

Typically a discharge fee, government registration fees, possibly application or valuation fees, and break costs on fixed loans. LMI may apply again above 80% of the value.

Usually 2–6 weeks.

As at October 2026: the 5% Deposit Scheme (5% deposit, no LMI, price cap $1.5m in Sydney), no transfer duty on homes up to $800,000 with a concession to $1 million, and the $10,000 First Home Owner Grant for new homes. Conditions apply.

Yes, with a gifted deposit or a family guarantee. Family guarantors should get independent legal advice first.

Lenders focus on the property's income and the business's financials, usually lend 60–70% of the value, and set shorter terms.

Yes, using a limited recourse borrowing arrangement. Get advice from a licensed financial adviser first.

Call 0402 597 375 or book online for a free 20–30 minute chat.

We talk through your goals and finances, outline options, and explain our Credit Guide. There's no obligation.

We're based in Gladesville, NSW 2111, and meet clients in person across Gladesville, Hunters Hill, Ryde, Drummoyne and the rest of Sydney, or by phone and video anywhere in Australia.

From first chat to settlement, usually 4–8 weeks for a purchase, depending on finding a property and settlement terms.