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. If you have a sensitive timeline and the speed of your application is the most important thing,. 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 a 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. Here is a full breakdown of the areas we cover:

Sunshine Coast — Noosa Region 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.

Sunshine Coast — Noosa Hinterland Kate and Jeane also cover the beautiful Noosa Hinterland including Cooroy, Cooroy Mountain, Doonan,Eumundi, Lake Macdonald, Pomona, Tinbeerwah and Verrierdale.

Northern Sunshine Coast 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 Northern Sunshine Coast suburbs.

Gold Coast 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.

Brisbane Southside Tyler Auld is based in Loganholme and services clients across Brisbane's Southside including Springwood, Daisy Hill, Underwood, Rochedale, Calamvale and surrounding suburbs.

Central Queensland — Yeppoon We also have a broker, Talia Ryan servicing Yeppoon, Rockhampton and the wider Central Queensland region.

Not in One of These Areas?

No problem at all. The Broker Society helps clients right across Queensland and Australia. We work remotely with clients in every state and territory — and our process is designed to be completely seamless whether we are meeting face to face or working with you online.

If you are not sure whether we service your area, simply call Kate Sadler on 0418 828 766 or book a consultation online and we will connect you with the right broker for your location and your needs.