How long does a home loan process take?

This depends on lender to lender. Some lenders are incredibly fast and some are much slower. If you have a time sensitive settlement, we take this into consideration when choosing a lender and prioritising application. The single biggest factor that you can control in this process is providing all your documentation in a timely manner, and providing it as accurately as you can. Lenders love a quality application and that doesn't always mean the highest quality applicant, it means how well we put together your loan application and present it to the bank. As local mortgage brokers, located in Noosaville, Palm Beach, Marcus Beach, Yeppoon and Springwood, we know our surrounds like the back of our hands, but we need to get to know you. Telling us everything we need to know gets your application through faster and without surprises.

Do you get paid more by some banks than others?

Generally, no. Commission rates across most lenders are broadly similar. Where small differences exist, they are irrelevant to our recommendation. We are legally obligated to act in your best interests, regardless of what any lender pays us. At The Broker Society we take a broad approach to commissions. We do not pay commissions to people who refer you to us, and we do not accept payment for referrals we make to other businesses like accountants or financial planners. It is just how we choose to do business. We love connecting our clients with other great people we trust. Business owners we know personally who will take care of you. We do it because we genuinely want you to be looked after. Not for cash.

What do you do with our information?

Your information is handled with complete care and in accordance with our Privacy Policy, which you can read in full on our website. We only collect what is necessary to assess your situation and submit your application, and your data is never shared beyond what is required to progress your loan.

Why do you offer some lenders that we have never heard of?

This is one of the real advantages of working with a broker. The Australian lending market goes well beyond the Big 4 banks, and access to the full market is something you simply cannot get by walking into a branch. There are four main categories of lenders we work across: Big 4 (or the Big 5 now) — NAB, CBA, ANZ, Westpac, Macquarie. Second Tier — well known but smaller lenders such as ING, Suncorp and Bankwest. Non Conforming — lenders who specialise in unique situations such as low doc or alt doc loans, including Bluestone, Pepper Money and Resimac. White Label — lenders who source funds from major institutions and offer them under their own brand, often at more competitive rates because they have no branch network overhead.

How much deposit do I need to buy a home?

The standard deposit requirement is 20% of the purchase price, which avoids the need for Lenders Mortgage Insurance. However, there are pathways to purchase with as little as 5% deposit — including the Federal Government's Home Guarantee Scheme, which allows eligible buyers to purchase with a 5% deposit without paying LMI. We can assess which options you qualify for during your initial consultation. There are also other options for no LMI or lower deposits such as non conforming lenders which charge a Risk Fee, or LMI waivers for specialist industries like Dentists, Lawyers and Doctors.

What is the difference between pre-approval and full approval?

Pre-approval is a conditional assessment from a lender indicating how much they are willing to lend you, based on your financial position at a point in time. It gives you confidence to make offers on properties within your budget but is not yet formally approved. Full approval is issued once a specific property has been valued and all conditions have been satisfied — this is when the lender formally commits to funding your loan.

Can I get a home loan if I am self-employed?

Yes. Self-employed borrowers have strong options across our lender panel. Requirements differ from standard PAYG applications. Most lenders want to see two years of tax returns and financial statements, though we have access to many lenders that offer alternative documentation options for those whose financials don't reflect their true income position. We work with self-employed clients regularly and know which lenders assess this type of income most favourably. Truth be told, self-employed clients are where our speciality lays.

What is refinancing and when should I consider it?

Refinancing means replacing your existing home loan with a new one. Either with your current lender or a different one. People refinance for a range of reasons: to access a more competitive interest rate, release equity for renovations or investment, consolidate debt, or restructure a loan that no longer fits their circumstances. A good time to review your loan is every two to three years, or any time your situation changes significantly.

How many lenders do you have access to?

We work with a panel of over 40 lenders including major banks, second tier lenders, non-conforming specialists and white label products. This breadth of access means we can find solutions for a wide range of financial situations, not just straightforward applications.

What happens after my loan settles?

Our relationship does not end at settlement. We stay in touch with all of our clients to ensure your loan continues to work for you as your circumstances evolve. We conduct regular loan reviews, let you know when the market shifts in a way that may benefit you, and are always available when your situation changes and you need guidance.

What areas do you service?

We are an independent mortgage brokerage based in Noosaville with brokers across Queensland — meaning we have a genuine local presence in every market we serve. Kate Sadler is based in Noosaville and services clients across the Noosa region including Noosa, Noosaville, Tewantin, Noosa Heads, Sunshine Beach, Cooroibah, Weyba Downs, Noosa North Shore and the wider Noosa Shire. Kate and Jeane also cover the Noosa Hinterland including Cooroy, Cooroy Mountain, Doonan, Eumundi, Lake Macdonald, Pomona, Tinbeerwah and Verrierdale. Jeane Hofmeyr is based in Marcus Beach and services clients across Marcus Beach, Peregian Beach, Peregian Springs, Coolum Beach, Castaways Beach, Sunrise Beach and surrounding suburbs. Belinda Gough is based in Palm Beach and services clients across the Gold Coast including Palm Beach, Burleigh Heads, Nerang, Southport, Currumbin, Elanora, Miami, Mermaid Beach, Broadbeach, Robina and surrounds. Tyler Auld is based in Loganholme and services Brisbane Southside including Springwood, Daisy Hill, Underwood, Rochedale, Calamvale and surrounding suburbs. Talia Ryan services Yeppoon, Rockhampton and the wider Central Queensland region. The Broker Society also helps clients right across Queensland and Australia, working remotely with clients in every state and territory.

When the Numbers Don't Tell the Whole Story: Alt Doc and Low Doc Home Loans Explained

5 June

Written By Kate Sadler

When the Numbers Don't Tell the Whole Story: Alt Doc and Low Doc Home Loans Explained

Business ownership is messy. If you have found yourself trying to get a home loan while your financials are out of date, not yet finalised, or just don't reflect where your business actually stands today, you are not alone and you are not out of options.

This is where alt doc and low doc lending comes in.

What Is Alt Doc / Low Doc Lending?

Alt doc and low doc home loans are designed for borrowers who cannot satisfy the standard income verification requirements that mainstream lenders rely on.

For employees, verifying income is simple. Two payslips, a group certificate, done. For Self employed business owners it is rarely that clean. Your most recent tax return might be 18 months old, your accountant might not have finalised last financial year yet, or your business might have changed enough that last year's numbers genuinely don't represent what is happening now.

Mainstream lenders are not built to account for that. Alt doc lenders are.

When Does It Make Sense?

The most common scenario we see is a business owner who is in a strong position right now but whose paperwork has not caught up yet.

Maybe income has increased but the financials that would show it are still with the accountant. Maybe trading shifted mid-year and the most recent return reflects a period that no longer represents how the business is running. In these situations, alt doc lenders can assess income using business bank statements, BAS statements, an accountant's declaration, or an income declaration rather than relying solely on tax returns.

It is a legitimate lending category, not a workaround.

The Trade-Off You Need to Understand

Alt doc lending is a solution, not a destination.

Because the lender is accepting more documentation risk, interest rates are typically higher and lender options are more limited. That is not a reason to avoid it when it is the right fit, but it is a reason to go in with a clear plan.

When we place a client in an alt doc product, we are already thinking about the exit. The goal is to get the loan over the line today and structure things so that moving back to a mainstream lender is as straightforward as possible once the documentation catches up.

Is Alt Doc the Same as a Bad Credit Loan?

No. These are completely separate things.

Alt doc is about income documentation, not credit history. A business owner with a clean credit file and strong cash flow who simply cannot produce current tax returns is a very different borrower from someone with defaults or arrears. The documentation pathway is different but the credit standards still apply.

The Bottom Line

If your financials are not where a mainstream lender needs them to be right now, that is not the end of the conversation. It might just mean a different pathway to get where you need to go.

Alt doc lending, used well and with a plan to move back to mainstream when the timing is right, is a practical tool. Not a compromise. Alt Doc and Low Doc Lending are available for Refinancing, New Home Purchases, Investment Lending and SMSF Lending and in some cases, Commercial Lending

Our Brokers are located in Noosaville, Palm Beach, Marcus Beach, Yeppoon and Springwood but we work with Alt Doc and Low Doc clients Australia wide.

If you want to know whether it makes sense for your situation, have a conversation with us. We will tell you plainly what your options look like and what the path forward is.