Residential Finance

If you’re a PAYG employee, we’ll generally need recent payslips, identification and details of your income, expenses, assets and liabilities. Depending on the lender and your circumstances, additional documents such as bank statements or tax returns may also be required. Self-employed applicants may be asked for recent business and personal tax returns, financial statements and supporting account information. The required period and documents vary between lenders, and alternative verification options may be available in some circumstances.

Lenders commonly assess self-employed income using business and personal tax returns, financial statements and supporting account information. The required period varies, and some lenders offer alternative income-verification options, although eligibility, trading-history requirements, interest rates and fees differ.

A range of lenders offer specific home loans for medical professionals, including reduced or waived lenders mortgage insurance for eligible doctors, dentists and other registered practitioners. Because lender eligibility criteria and concessions change, we check the policies available at the time of your application and assess whether your profession, registration, income and loan structure meet the relevant requirements.

Lenders mortgage insurance, or LMI, generally protects the lender, not the borrower, if a borrower defaults and the sale of the property does not repay the outstanding loan. It is commonly required where the loan exceeds 80% of the property’s value, although policies and exemptions vary. The premium may be payable upfront or, subject to lender approval, added to the loan. An eligible waiver may materially reduce the upfront cost of purchasing or refinancing.

Timeframes vary by lender and how complete your application is when it is submitted. A straightforward PAYG application with all documents ready can sometimes be conditionally approved within a few business days. More complex files, including self-employed applications, tend to take longer. We prepare the application thoroughly before lodgment to reduce avoidable questions and delays, although assessment timeframes remain subject to the lender.

A fixed rate stays the same for an agreed period, which is usually one to five years. A fixed rate gives you a sense of certainty over your repayments during that time. A variable rate moves with the lender's own rate changes, which can work in your favour or against it depending on whether rates move up or down during the course of your loan. Some borrowers split their loan between both. Let’s talk through which structure suits your situation and risk appetite.

A bank can only offer you its own products. A broker compares your options across a wide panel of lenders. That difference matters most when your situation is not entirely straightforward, especially when you’re self-employed or work in a profession with specific policy concessions. Access to a broad lender panel can be particularly valuable for self-employed applicants and professionals who may qualify for lender-specific policy concessions.

A decline from one lender does not necessarily mean that every lender will reach the same decision. However, it is important to understand the reason for the decline before making another application, as unnecessary applications may affect your credit profile. We review the lender’s feedback, your financial position and the relevant credit policies before determining whether another option may be appropriate.

Yes. Many homeowners use equity in their existing property to fund renovations or extensions. The most suitable structure depends on your available equity, borrowing capacity and the lender's policy. We compare lenders to help identify the option that best suits your plans.