FREQUENTLY ASKED QUESTIONS
Answers to common questions about your finance journey
Find answers to some of the questions we’re commonly asked about home loans, refinancing, business lending and working with My Mortgage Hub.
Frequently asked questions and answers
Alongside our competitive rates, we take pride in being accessible to address any queries you may have throughout your loan's duration. We welcome both first-time buyers and seasoned investors alike – regardless of your experience, we are dedicated to supporting you whenever you need assistance.
What does a broker do?
A broker is a finance expert who collaborates with you individually to explore your borrowing objectives and assess how much you can borrow. They usually offer a more customised level of service compared to what a lender provides, and they have access to a variety of loans from different lenders, enabling them to secure the most suitable loan conditions for your specific needs.
Do you charge fees for home or investment loans?
There are no additional repayments or fees when you obtain a loan through a broker. A broker receives a commission from the lender for bringing in new business, but this does not influence your interest rate or any other terms of the loan agreement.
Is it more expensive to use a broker?
Engaging a broker is at no cost to you, as the lender compensates them. With access to numerous loan options from various lenders, brokers will identify the most fitting loan for your situation. Generally, this includes both the most competitive rate available and the features that best suit your needs.
Some brokers may charge service fees, which will be disclosed prior to the commencement of their services.
How much can I borrow?
While our borrowing calculator can provide a rough estimate of your potential borrowing capacity, we recommend reaching out to our team for a more accurate evaluation. We can discuss your specific options and delve into your unique circumstances.
Should I choose a fixed or variable rate?
As the name implies, variable-rate home loans feature interest rates that fluctuate over time. They typically offer greater flexibility compared to other loan types, including options like redraw facilities and the ability to make extra repayments. However, the repayment amounts can vary.
In contrast, fixed-rate home loans provide consistent monthly repayments, allowing you to know exactly what to budget for throughout the loan term. While these loans may lack some flexible features, they offer borrowers the comfort of predictable financial planning.
When deciding which loan type suits you best, consider what matters more to you: the adaptability of a variable rate or the security of fixed repayments.
Which lenders do you partner with?
Thanks to our affiliation with a mortgage aggregator, we can access loan options from over 50 different lenders. This extensive network enables us to assist you in finding several suitable choices tailored to your individual needs.