Mortgage Broker FAQ: Everything You Need to Know About Working with Ausfirst Lending

Think of us as your personal home loan detective and negotiator rolled into one. We dig through dozens of lenders to find the perfect loan for your situation, then fight for the best rates and terms on your behalf. But we don't stop there – we handle all the paperwork, liaise with banks, and guide you from application through to settlement and beyond. At Ausfirst, we're not just transaction-focused; we build long-term relationships and regularly review your loan to ensure it stays competitive.

Absolutely nothing. Zero. Zilch. Our comprehensive service – from initial consultation to ongoing loan reviews – is completely free to you. We're compensated by the lenders after your loan settles, and here's the important bit: this doesn't increase your interest rate or loan costs. We're also bound by law to act in your best interests, so you can trust our recommendations are genuinely what's best for you, not what pays us the most.

It's refreshingly simple. Give us a call, send an email, or fill out our quick online form. We'll schedule a no-obligation discovery conversation where we get to know your goals, financial situation, and what success looks like for you. No pressure, no sales pitch – just honest advice about your options and next steps.

We've refined our approach over thousands of successful applications:

1. Discovery & Strategy – We understand your goals and map out a tailored plan
2. Research & Comparison – We analyse loans from our panel of 40+ lenders
3. Application & Pre-Approval – We handle the heavy lifting while keeping you informed
4. Property & Formal Approval – We coordinate with all parties for smooth sailing
5. Settlement & Beyond – We ensure everything goes perfectly, then stay in touch for ongoing support

That's the million-dollar question (sometimes literally!). Your borrowing capacity depends on your income, existing debts, living expenses, deposit size, and the lender's assessment criteria. What many people don't realise is that every lender calculates this differently – some are more generous with overtime income, others better for self-employed borrowers. We know these nuances and will find the lender that gives you maximum borrowing power while keeping repayments comfortable.

For pre-approvals, we typically see results within 2-5 business days, depending on your situation's complexity. Once you've found a property and signed a contract, formal approval usually takes 1-2 weeks. However, we're proactive about chasing lenders and resolving any issues quickly – many of our competitors just submit and hope for the best, but we actively manage every application to avoid delays.

Here's the typical checklist:

• Recent payslips (usually last 2-3)
• Bank statements (last 3 months)
• Photo ID (driver's licence or passport)
• Details of existing debts or commitments
• Proof of deposit/savings history

For self-employed clients, we'll also need business financials, but don't worry – we work with lenders who understand business income and won't penalise you for being your own boss.

Absolutely, and here's why: it gives you genuine confidence in your budget, makes your offers more attractive to vendors, and speeds up the formal approval process once you find a property. Pre-approvals typically last 3-6 months, and we can often refresh them if needed. Think of it as your financial fitness test before the big game.

Here's the thing – the cheapest rate isn't always the best loan. Some ultra-low rates come with high fees, limited features, or poor service. We focus on finding the best overall value: competitive rates combined with features that actually benefit you, reasonable fees, and lenders known for good service. That said, we absolutely negotiate for the sharpest rates possible.

If you haven't reviewed your loan in the past 12-18 months, there's a good chance you're overpaying. We recommend refinancing when:

• You can secure a rate that's 0.5% or more below your current rate
• You want to consolidate debts or access equity
• Your current lender's service is poor
• Your loan lacks features you now need (like offset accounts)

We offer complimentary loan health checks to existing clients, so you'll always know where you stand.

Typical costs include valuation fees ($200-600), discharge fees from your old lender ($150-400), and sometimes settlement fees. However, many lenders offer cash-back deals or cover these costs to win your business. We calculate whether the potential savings outweigh the costs – and often negotiate for the lender to cover switching expenses.

Yes! Many lenders offer cash incentives to switch, typically ranging from $2,000-$4,000. But here's our approach: we don't let the cash-back tail wag the loan dog. We ensure the underlying loan is genuinely competitive first, then the cash-back becomes a nice bonus rather than the main reason to switch.

Absolutely – first home buyers are close to our hearts. We'll help you navigate:

• Government grants and schemes (First Home Owner Grant, First Home Guarantee)
• Stamp duty concessions
• Low-deposit loan options
• Budgeting for ongoing costs beyond the purchase price

We explain everything in plain English and ensure you're making informed decisions about what's likely your biggest financial commitment.

Yes, we love helping people build wealth through property. We understand investment loan structuring, tax implications, and growth strategies. Whether it's your first investment property or you're building a substantial portfolio, we'll structure loans to maximise tax benefits and set you up for long-term success.

Definitely. Self-employed lending is more complex, but we work with specialist lenders who understand business income patterns. We can often arrange loans with:

• Bank statements instead of tax returns
• Lower documentation requirements
• Faster approval times
• Competitive rates despite the perceived higher risk

Yes, we arrange bridging finance when you're buying before selling. It's a short-term solution that gives you flexibility in timing, though it does come with higher costs. We'll assess whether it makes financial sense and structure it to minimise interest and risk.

Family guarantee loans are fantastic for helping children enter the property market sooner. Parents use their property equity to guarantee part of the loan, which can eliminate LMI and reduce deposit requirements. We ensure everyone understands their obligations and structure the guarantee to protect all parties.

Yes, we work with specialist lenders who understand expat situations. Whether you're earning foreign income, returning to Australia, or investing from overseas, we can navigate the additional documentation and assessment requirements.

An offset account is like a savings account that reduces the interest charged on your home loan. Every dollar in your offset reduces the loan balance for interest calculation purposes. For example, if you have a $500,000 loan and $50,000 in your offset, you only pay interest on $450,000. It's one of the most effective ways to save on interest while maintaining access to your funds.

With some lenders, yes! This is brilliant for budgeting – you might have separate offset accounts for tax payments, holidays, emergency funds, and general savings. Each dollar still reduces your loan interest, but you can keep different purposes separate.

This is a clever strategy where you put all your income into an offset account, then use a credit card for daily expenses (paying it off in full each month). This maximises the time your money spends reducing loan interest. It requires discipline with credit card management, but the interest savings can be substantial.

Investment loan structure is crucial for tax efficiency. Generally, we recommend:

• Interest-only loans to maximise tax deductions
• Separate loans for each investment property
• Keeping investment and owner-occupied loans completely separate
• Using offset accounts strategically for tax purposes

We work with accountants to ensure your loan structure aligns with your tax strategy.

Absolutely. Life happens – job loss, illness, relationship breakdown – and lenders understand this. We work with mainstream and specialist lenders who consider applications with credit impairments. Our job is to present your story in the best possible light and find a lender willing to say yes. Often, a brief explanation and evidence of improved circumstances is all that's needed.

DTI stands for Debt-to-Income ratio – it's your total annual debt repayments divided by your gross annual income. Some lenders now use DTI limits (typically 6-8 times income) alongside traditional servicing calculations. It's another way lenders assess whether you can comfortably manage debt, and we factor this into our lender selection.

LVR is Loan-to-Value Ratio – your loan amount divided by the property value. For example, borrowing $400,000 on a $500,000 property gives you an 80% LVR. This determines things like LMI requirements, available rates, and loan features. Generally, lower LVRs mean better deals.

Yes, higher rates reduce borrowing power because lenders test your ability to service loans at higher rates (typically 3% above the actual rate). However, we can structure applications to maximise borrowing capacity and recommend lenders with more favourable assessment rates.

We receive a commission from lenders when your loan settles – typically around 0.6-0.7% of the loan amount upfront, plus a smaller ongoing commission. This doesn't increase your interest rate or loan costs. We're also bound by law to prioritise your interests over our commission, and frankly, our reputation depends on getting you great outcomes.

Competition! We've driven down rates and improved service by making lenders compete for business. Before brokers became widespread, customers were largely stuck with their bank's limited options. Now, lenders know they need to be competitive because brokers can easily move business elsewhere.

Extremely safe. We're bound by strict privacy laws and use bank-level security systems. Your information is only shared with lenders you've agreed to apply with, and we never sell or misuse your data. We're also required to have professional indemnity insurance and are regulated by ASIC.

We regularly arrange loans up to $2-3 million, and can facilitate larger amounts through specialist lenders or multiple securities. High-net-worth lending often requires different strategies and documentation, but we have the experience and lender relationships to make it happen.

Primarily yes, though we can arrange lending for some offshore investments through specialist lenders. These deals are complex and require significant equity in Australian property, but we've helped clients invest in US and UK property markets.

Absolutely! This government scheme allows eligible first home buyers to purchase with just a 5% deposit while avoiding LMI. We'll assess your eligibility, help with the application, and coordinate with participating lenders. Places are limited and allocated throughout the year, so timing matters.

Each state offers different first home buyer concessions. In Queensland, you may be eligible for stamp duty reductions or exemptions on properties up to certain values. We stay current with all state-based incentives and ensure you're claiming everything available.

This scheme lets first home buyers contribute extra to super (up to $15,000 per year, $50,000 total), then withdraw it for a house deposit at a reduced tax rate. It's essentially a tax-effective way to save for your deposit, and we can guide you through the process.