FAQs

A mortgage broker will help guide you through your options. With many lenders and products available it is often hard to know what the best option for you is. Thats where a mortgage broker will step in to help. It is not just about interest rate and fees, it's about your borrowing capacity, the product features, the lender timeframes and your requirements. Mortgage brokers understand lender policies and how they impact your borrowing capacity. We request discounts to the advertised interest rates to lower your repayments; we understand lender approval times and how they impact a purchase or refinance.

At Haus of Loans we will shortlist your top options, advise how much deposit you will need to cover all parts of the transaction, advise you what your repayments will be and give tips on how to improve your borrowing capacity or restructure if its needed.

A good broker is about saving you time and money, but also ensuring the process is smooth, stress-free and you are informed at each step of the way.

Banks have one product, their own. A mortgage broker has multiple lenders and more options; mortgage brokers offer more choices. At Haus of Loans, we have over 70 lenders, we can look at all the lenders in one place saving you time.

Mortgage brokers must act in the best interest of the customer; this is the law. This is called Best Interest Duty. This is a legal requirement to act solely in your best interests, not the lenders' when recommending a home loan. Banks do not have to adhere to Best Interest Duty; they can prioritise their own interest even if this means the loan is not the best fit for your situation.

Over 75% of all loans in Australia are written by mortgage brokers, this is partly to the time savings and the obligations that mortgage brokers must adhere to with Best Interest Duty, ensure they put you first.

Working with a Wollongong mortgage broker gives you more than loan comparisons, it’s about insight into how the Illawarra property market really works. From navigating lender appetite for coastal suburbs to understanding local buyer competition, we combine local knowledge with smart loan strategy, so your finance aligns with your property goals.

Our service is free for most clients. We’re paid by the lender. This payment is not hidden in your loan fees or charges, it is declared upfront as part of the application and again on the loan contracts.

The real value isn’t just “a free service” it’s that you get a solution that is tailored to your needs, we can workshop multiple scenarios and give tips on how to improve your situation. We provide strategic advice, paired with education the make sure you have all the information you need to make an informed decision. Some might say mortgage brokers are solutions based, while banks are transaction based. At Haus of Loans, we ensure the advice and recommendation we make now also alight with your future goals. We look at the big picture.

If you are a first home buyer, we have access to government schemes like the First Home Guarantee that allow first home buyers to purchase without paying lenders mortgage insurance. Whilst there are many lenders who offer this scheme, only some of them offer discounted interest rates that result in lower repayments.,

If you are not a first home buyer, we guide you through the extra cost associated with a 95% loan to ensure you are not paying more than is needed, we make sure you have access to all the information required to make the best decision for you. It's not just about rate and deposit, it's about the extra costs and how this impacts your future.

We have access to more than 70 lenders from the big banks to specialist non-banks lenders. That scope matters because every lender has unique rules on things like casual income, bonuses, or self-employment earnings. Having more choice dramatically improves your chances of approval and often uncovers sharper rates or options.

Absolutely. Refinancing can mean securing a lower rate, unlocking equity, or streamlining your repayments. We make the process simple, so you know when it’s the right time to switch.

At Haus of Loans we have been investing in the property market for over two decades, we know when to loop in your other advisors, like your accountant or financial planner. We want to ensure the changes we make today align with all your future financial needs, as these decisions can impact your living expense, have tax implications or affect retirement objectives.

Yes. We know life is busy, so we offer flexible appointments including mid-week evenings, online or in person.  

Not everyone can discuss their finances during business hours, we understand the juggle of family/work/life. Our office if family friendly if you need to bring the kids or parents along, they are more than welcome.

This really does depend on the lender and their timeframes; some can be as little as 24 hours, and some can take weeks. Full approval depends on the lender and complexity of your situation. The key difference with Haus of Loans is that we package your application correctly the first time, so you avoid the delays and back-and-forth many borrowers experience when going direct.

Not at all. We work with first home buyers, investors, upgraders, refinancers, and self-employed clients. Each group has very different lending challenges, and our role is to navigate lender policies so you’re not boxed into a “standard loan” that doesn’t fit.

Yes, we do help with investment loans. Many banks will hand you a standard investment loan, but not all loans are created equal. We look beyond the basics to match you with finance that supports your broader investment plans without the guesswork of going directly to one bank. Our brokers have their own investment portfolios, we understand how important it is to get the structure and loan correct from the start to ensure your returns are maximised.

Most lenders require ID, proof of income, bank statements, and details of assets and liabilities. What’s often missed is that each lender checks these documents differently. We’ll give you a tailored checklist, flag any potential issues, and package everything so approval is smooth. Our process is streamlined for efficiency.

Yes, we do help with construction and renovation loans. Unlike a standard mortgage, construction finance is released in stages, each tied to progress on your build. That means extra paperwork, lender checks, and strict timelines. At Haus of Loans, we guide you through every step, liaise with your builder, and ensure payments are released smoothly so your project stays on track without unnecessary stress.

Our brokers have built properties so they understand how stressful this can be, your loan should not be part of the stress of building and renovating.

Yes. Being self-employed should not make it harder to get approved. Each lender has different policies and rules, we understand who the lenders are with better policies for self- employed. These may include lenders who only look at one year of your business income vs lots who look at two years, some lenders will not factor in business debts, some will.

We know what lenders who have more generous policies for self-employed, after all the owners of Haus of Loans are self-employed themselves.

Fixed rates give certainty by locking in your rate and repayments for a set period of time. Variable rates move with the market. The key isn’t just the rate, it’s which structure suits your goals. Both offer different features. Many clients benefit from splitting their loan into part fixed, part variable. We’ll guide you through the pros and cons so you’re confident in the choice.

Start by giving us a call or email to book a free strategy session. We collect all documents and information upfront so we can analyse your scenario and provide accurate information to you in the session.

Durig the strategy session we will provide you with all the information you need to move to the next stage. We can workshop multiple scenarios, advise on borrowing capacity, comparing lenders and deposits required.

With over a decade of experience and a client-first approach, we make the process seamless, efficient, and completely transparent so your property journey feels supported from day one.

It’s generally a good idea to review your home loan every 12 to 24 months, or whenever interest rates change. Regular reviews help ensure your mortgage remains competitive and aligned with your financial goals.

Loyalty tax refers to the higher interest rate some borrowers pay simply because they have stayed with the same lender for years. Banks often advertise lower rates to attract new customers, but existing customers are not always automatically moved to those more competitive rates.

You can check by comparing your current interest rate against the rate your lender is advertising to new customers. If your rate is higher, you may be paying loyalty tax. A mortgage broker can also review your loan and compare it to the wider market.

Yes. Many lenders offer discretionary discounts to retain customers. Having a strong repayment history, a good credit score and a lower loan-to-value ratio can improve your negotiating position.

With interest rates moving and lenders competing for business, refinancing in 2026 may allow you to secure a more competitive rate, improve your loan features or reduce your repayments. However, it’s important to weigh potential savings against any refinancing costs.

Refinancing involves a credit enquiry, which may cause a small temporary dip in your credit score. However, if refinancing improves your financial position, the long-term impact is typically neutral or positive.

Refinancing a home loan usually takes between two to six weeks, depending on the lender and your documentation. It is generally simpler than purchasing a property because there is no contract of sale or settlement negotiation.

The Reserve Bank of Australia increased the cash rate to 3.85% in response to inflation remaining above its 2–3% target range. Headline inflation reached 3.8% in the year to December, and underlying inflation also remained elevated, prompting the RBA to act to contain price pressures.

A 0.25% rate increase could add approximately $115 per month to repayments on an average $694,000 mortgage. The exact impact will depend on your loan size, interest rate and loan type.

If you’re a homeowner in Wollongong or the Illawarra, reviewing your repayments now can help you plan ahead.

Australia’s major banks have indicated they will pass on the full 0.25% increase to variable rate customers. However, individual lenders may apply changes differently, so it’s important to confirm how your specific loan is affected.

A rate rise can be a good time to review your loan. Even in a rising rate environment, lenders compete aggressively for new customers. Refinancing may allow you to:

• Secure a more competitive rate
• Access better loan features
• Reduce unnecessary fees
• Consolidate debts

A Wollongong mortgage broker can compare options across multiple lenders on your behalf.

From 1 February 2026, APRA introduced a limit that restricts banks to issuing no more than 20% of new loans to borrowers with a debt-to-income ratio of six or more.

This does not automatically disqualify high-income borrowers, but it may affect how lenders assess applications, particularly for investors.

Market timing depends on your personal circumstances, not just headlines. While rates have risen, competition remains moderate in some segments, and being pre-approved can place you in a strong negotiating position.

Long-term strategy often matters more than short-term rate movements.

Property investment conditions in 2026 are expected to be more measured compared to 2025. While price growth may continue, it is likely to vary by region. Investors are paying close attention to interest rate movements, lending policy changes and affordability constraints.

For buyers in Wollongong and across the Illawarra, local supply levels, rental demand and borrowing capacity will play a significant role in determining whether 2026 is the right time to invest.

Market research suggests Queensland, Western Australia and South Australia may continue to show strong performance, particularly in Perth, Adelaide and Brisbane.

However, investment decisions should consider more than headline growth. Rental demand, infrastructure investment and lending capacity are equally important factors.

Regional markets have shown resilience in recent years, often offering lower entry prices and stronger rental yields compared to some capital cities.

For investors in the Illawarra, regional NSW locations can present opportunities depending on infrastructure growth, population movement and employment drivers.

As always, research and finance structure matter just as much as location selection.

Rentvesting involves renting where you want to live while purchasing an investment property in a more affordable location.

With affordability pressures continuing in many metro areas, rentvesting remains a popular strategy for younger buyers wanting to enter the property market sooner while maintaining lifestyle flexibility.

Some first home buyers may qualify for the 5% Deposit Scheme, allowing purchase with a smaller deposit and no Lenders Mortgage Insurance (LMI). Others may aim for 20% to avoid LMI. The right deposit depends on your financial position.

Yes. Strata fees are included in lender serviceability calculations. Higher strata fees may reduce how much you can borrow.

When you apply to refinance, lenders reassess your financial position just like a new home loan application.

They typically review:

• Your income and employment stability
• Your living expenses
• Existing debts and liabilities
• Your credit score and repayment history
• The current value of your property
• Your loan-to-value ratio (LVR)
• Your debt-to-income ratio (DTI)

Even if you’ve been paying your mortgage for years, lenders must still confirm you meet current lending standards.

Most lenders will request:

• Recent payslips (usually last 2)
• Tax returns if self-employed
• Bank statements (typically 3 months)
• Current home loan statement
• Identification documents
• Details of any other debts

If you’re refinancing to access equity, additional documentation may be required.

Most refinances take between 2 to 6 weeks.

The timeframe depends on:

• How quickly documents are provided
• The lender’s processing time
• Valuation turnaround
• Discharge timing from your current lender

A mortgage broker can manage the process and minimise delays.

There can be costs, including:

• Discharge fees from your current lender
• Government registration fees
• Application or settlement fees
• Break costs (if exiting a fixed-rate loan early)

These costs should always be weighed against potential savings before proceeding.

Inflation is the increase in the cost of goods and services over time. This means your money buys less than it did before, as everyday expenses like groceries, fuel and housing become more expensive.

Inflation can rise due to several factors, including:

• Increased demand for goods and services
• Higher production and supply costs
• Global events affecting energy and supply chains
• Wage growth and economic activity

In Australia, recent inflation has been influenced by rising living costs, housing demand and global economic pressures.

When inflation rises, everyday expenses increase. This includes:

• Groceries
• Electricity and gas
• Insurance
• Fuel
• Rent and housing costs

For many households, this means budgets feel tighter even if income stays the same.

When inflation is high, the Reserve Bank of Australia (RBA) may increase the cash rate to slow spending and bring inflation under control.

This usually leads to higher home loan interest rates, which can increase mortgage repayments.

As interest rates rise in response to inflation, lenders often increase variable home loan rates.

This can result in:

• Higher monthly repayments
• Increased interest paid over time
• Reduced borrowing capacity

Even small rate increases can have a noticeable impact on your loan.

Yes, inflation can influence property prices.

Higher interest rates may reduce borrowing capacity and slow demand, while limited housing supply can keep prices stable or rising in certain areas like Wollongong.

Property markets often respond differently depending on location and economic conditions.

Inflation can make it harder for first home buyers by:

• Increasing living costs and reducing savings
• Lowering borrowing capacity due to higher rates
• Affecting property affordability

This makes planning, budgeting and understanding finance options even more important.

Yes. When inflation leads to higher interest rates, reviewing your home loan can help ensure you’re not paying more than necessary.

A home loan review may identify opportunities to reduce your rate, improve your loan structure or better manage repayments.

Mortgage brokers in Australia are paid a commission by the lender after the loan settles. This commission is not hidden in your loan fees or charges, it is declared upfront as part of the application and again on the loan contracts.

This commission isn’t payable by you and is not added onto your home loan, nor does it impact your interest rate.

Some brokers charge an upfront fee to clients, we do not.

Our service is free for clients.

The real value isn’t just “a free service” it’s that you get a solution that is tailored to your needs, we can workshop multiple scenarios and give tips on how to improve your situation. We provide strategic advice, paired with education the make sure you have all the information you need to make an informed decision.

Yes, rising rates can impact your repayments and borrowing capacity. A review helps ensure your loan still suits your current financial position.

It depends on your loan structure, rate, and goals. Many borrowers review their options when rates change to improve cash flow or flexibility.

It depends on your loan structure, rate, and goals. Many borrowers review their options when rates change to improve cash flow or flexibility.

Higher rates can reduce how much you can borrow and increase repayments, which is why strategy and lender choice matter.