About

Mortgage brokers are paid an upfront commission by banks and lenders as a percentage of a client’s loan amount. The broker is also paid a trail commission by the bank or lender, which is an ongoing percentage of the remaining balance of the loan. 

There’s no ‘right’ time to contact a mortgage broker. Whether you’re ready to buy your dream home, considering selling or looking to purchase an investment property, a mortgage broker can answer your questions and set a plan. Fill in the form here for an assessment call with Broker One.

Compared to going directly to a lender, mortgage brokers offer access to a wider variety of lenders, personalised service and flexibility to a client’s schedule. Find out more about what sets brokers apart here.

Mortgage brokers are paid an upfront commission by banks and lenders as a percentage of a client’s loan amount. The broker is also paid a trail commission by the bank or lender, which is an ongoing percentage of the remaining balance of the loan. 

Your borrowing capacity can differ between banks, and online mortgage calculators can only provide a rough estimate. By assessing your financial information and existing equity, mortgage brokers can more accurately determine your borrowing capacity. Fill in the form here for an assesment call with Broker One.

The Loan-to-Value Ratio (LVR) is the amount you’re borrowing, represented as a percentage of the value of the property you’re buying.  

Mortgage repayment calculators offered online by banks and lenders can help give an indication of your loan repayments, depending on the type of home loan you’re considering. However, these are an estimate that can be more accurately determined in consultation with a broker.

Try our Loan Repayment calculator here.

Refinancing describes the process of paying out your current home loan by taking out a new loan, either with your existing lender or through a different lender. If you’ve had your current home loan for a few years, your situation might’ve changed, or new features have become available in the market. A discussion with a broker can help determine whether refinancing is right for you.

The documents required to apply for a home loan fall into four main categories: ID (Australian driver’s licence and Australian passport), Proof of Income (recent payslips, PAYG statements, tax returns, etc.), Expenses (detailed monthly spending), and Assets and Liabilities (your already existing equity/savings and debts).

The additional cost of buying a property includes legal and conveyancing fees, government charges such as land transfer duty, and building and pest inspection fees. Find out more details at Consumer Affairs Victoria.