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Mortgage Advice

Mortgage Advice

Understand how to secure a home loan that is right for you with our trusted network of mortgage brokers we can put you in touch with.

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How can we find the right home loan?

With so many home loans provided by different home loan lenders, it can be hard to know which home loan is the right one for you. To make this process easier, it might be helpful to speak to your local lender or to a mortgage broker who can offer advice and recommendations.

Do we fix part of our home loan?

Many first home buyers ask this question, and this depends on everyone’s individual situation. Fixing a part of a home loan is a commonly used strategy but whether this is the right strategy for you is best discussed with your lender or with your mortgage broker.

What are the different types of loans?

There are loans to suit everyone’s individual situation like for first home buyers there are ‘honeymoon rates’ where the interest rate is set lower than the market for the first 6 or 12 months of the loan. There are loans you can fix so you know what your repayments will be or varied to suit the changing rates of interest so if you’re not locked in on a high-interest rate term. The type of loan you need depends on your situation and what you need the loan for.

How much deposit is needed?

Depending on the type of property you purchase, this can range from 5% up to 20% of the purchase price. To understand how much deposit you actually need is best discussed with your lender or with your mortgage broker as there are different loan approval criteria to consider pending on the type of dwelling it is, and on the market price of the property.