Ask before you borrow

Curated tips, resources and  answers designed to make your home loan journey simple and enjoyable.
Helpful information for first home buyers, refinancers and construction borrowers in Perth and across Western Australia. General information only. Lending criteria, government scheme rules and personal circumstances apply.

I don’t charge you a cent! My advice and support is completely free to you. I am paid by the lenders. That way, you get expert guidance and peace of mind without any hidden costs.

A mortgage broker helps compare lenders, explain your options and guide you through the home loan process from start to finish.

Instead of going to just one bank, a broker can often compare multiple lenders and help match you with a loan that suits your situation.

That includes:

  • first home buyers
  • refinancing
  • investors
  • self-employed clients
  • debt consolidation
  • upgrading or downsizing

Avoid these pitfalls to protect your credit score:

  • It’s not all about your score. Lenders check your whole file and history.
  • Misrepresenting income or expenses: Be honest about your finances; lenders verify your information.
  • Submitting too many loan applications: Each application appears on your credit report.
  • Keeping high credit card limits: High limits reduce your borrowing power, even if unused.
  • Missing repayments or defaults: Late or missed payments damage your credit history and lower your score.

Possibly, yes.

Not every refinance requires a perfect credit score.

Different lenders have different policies and some may be more flexible depending on:

  • what caused the issue
  • how long ago it happened
  • whether repayments are now up to date
  • your overall financial position

A less-than-perfect credit history does not always mean “no.” Sometimes it simply means finding the right lender and strategy.

You may be eligible for a home loan even if you are a pensioner. Bridging finance lets you purchase a new property before selling your current home:

  • Buy before you sell: A bridging loan covers the purchase price of your new home, giving you time to sell your existing property without pressure.
  • Avoid temporary moves: It removes the need to rent or find temporary accommodation between sales.
  • Flexible terms: Bridging loans could last 6 to 24 months, allowing you to settle into retirement while you find the right buyer for your home.

A fixed rate locks in your interest rate for an agreed period, usually between one and five years. This provides more certainty because your repayments will not change during the fixed period. However, extra repayments may be limited, offset accounts may not be available and break costs can apply if you change or repay the loan early.

A variable rate can move up or down throughout the life of your loan. Variable loans generally offer greater flexibility, including extra repayments, redraw and offset options, but your repayments may increase if the rate rises.

Variable rates are more directly influenced by changes to the RBA cash rate, although each lender decides whether and how much to pass on. Fixed rates offered to new borrowers are influenced by wholesale funding costs and expectations about where rates may move in the future, so they can change before, after or independently of an RBA decision.

There is no option that is automatically better for everyone. You can also split your loan, fixing one portion for certainty while keeping the remainder variable for flexibility.
Talk to me to figure out the best solution for your situation.

First Home Buyer Tips

Make smart decisions for your future home:

  • Consider your lifestyle & plans: Think about family size, work commute, school zones, and long‑term needs such as renovation potential.
  • Know why you’re buying: Clarify your motivations and assemble a team of professionals to guide you.
  • Start early: Don’t wait for perfect market conditions; research properties and get pre‑approved to stay ahead of competition.
  • Budget wisely: Stick to a comfortable monthly payment and set aside funds for insurance, taxes, maintenance and unexpected repairs.
  • Compare lenders: I work with many banks, negotiate better rates, fees and loan features to get the best deal specifically for you.

The Australian Government 5% Deposit Scheme may allow eligible first home buyers to purchase a home with as little as a 5% deposit, without paying Lenders Mortgage Insurance. Eligibility, lender approval and property price caps still apply.

Not always. You may also need funds for stamp duty, transfer fees, settlement costs, conveyancing, inspections, moving costs and any lender requirements. The 5% deposit is only one part of the overall purchase budget.

Use the official Australian Government property price cap and postcode search tool. Always confirm the details with your broker or participating lender before making an offer.

Yes, the scheme is federal. Eligible buyers from all states, including WA, may be able to use the scheme if they meet the criteria, the lender participates, and the property is within the relevant price cap.

Some lenders may consider a 5% deposit depending on your income, savings history, credit profile and loan structure. Lenders Mortgage Insurance may apply if you are not using an eligible government guarantee.

There are other options such as using a guarantor to avoid lenders mortgage insurance.

Some lenders require genuine savings, while others may accept rent history, gifted funds or other evidence depending on the loan type and lender policy.

Often yes, but lenders may want a gift letter and evidence that the funds are non-refundable. Policy varies between lenders.

Lenders Mortgage Insurance, often called LMI, protects the lender if the borrower defaults. It is usually required when borrowing more than 80% of the property value, unless an exemption or guarantee applies.

Yes, pre-approval can help you understand your likely borrowing capacity and budget before you start making offers. It is not a full approval, but it is a helpful planning step.

Pre approval may help when talking to real estate agents and submitting an offer.

Budget for deposit, stamp duty if applicable, transfer and registration fees, conveyancing, building and pest inspections, insurance, moving costs, utility connections and possible lender fees.

Refinancing Tips

It is worth reviewing your home loan regularly, especially if your fixed rate is ending, your repayments have increased, your circumstances have changed or you have not compared your loan for a while.

Refinancing can save you money if done correctly:

  • Lower your rate & payments: Rates have a tendency to sneak up, refinancing can reduce your monthly payment and build equity faster.
  • Choose the right term: A shorter term pays off your loan sooner but increases monthly payments; a longer term lowers payments but costs more over time. We can find the right balance.
  • Switch from variable to fixed: Lock in a fixed rate if you expect interest rates to rise for peace of mind. However, keep in mind that variable allows you to pay off your loan quicker.
  • Cash‑out? Accessing equity for renovations or debt consolidation can help, but it can increase your repayments.

Refinancing means replacing your existing home loan with a new loan, either with your current lender or a different lender.

It may help reduce repayments if you secure a lower rate, extend the term, change the loan structure. Sometimes refinancing can result in higher repayments if you consolidate debts. The best option depends on your personal circumstances.

This is when it is worth having a chat!

You may be able to access equity for renovations, investment, debt consolidation or other purposes, subject to lender approval and responsible lending requirements.

Fast refinance is a process some lenders use to help refinance your loan without waiting for the outgoing lender to complete every standard discharge step first. It is lender and scenario specific.

Yes, but lenders may require tax returns, financial statements, BAS, bank statements or alternative income evidence depending on the lender and product.

Possibly. Debt consolidation can simplify repayments, but it can also stretch short-term debts over a longer loan term. You should understand the total cost before proceeding.

Construction Loan tips

First we settle on the land. Usually upon land settlement is when you start making repayment for the land portion of your loan.

A construction loan is usually paid in stages, called progress payments, as the build reaches key milestones such as slab, frame, lock-up, fixing and completion.

It depends on whether you are buying land first, building later, or arranging a house and land together. The lender will assess the full structure of the transaction.

For the 5% deposit scheme we will usually need land and construction contracts at the same time.

Progress payments are staged payments made by the lender directly to the builder as each stage of construction is completed and verified.

Usually, interest is charged only on the amount drawn down so far, not the full approved loan amount. This can vary by lender and loan structure.

Cost increases may need to be funded by you or reassessed by the lender. It is important to keep a buffer and understand variation costs before signing.

Eligible first home buyers in different states may be able to use the FHOG for a new home or build, subject to the State Government rules, caps and criteria.

You should understand your borrowing capacity and finance position before committing to a building contract. Always allow enough time for finance and valuation requirements.

Helpful Resources

* Disclaimer: External links and calculators are provided for general information only. We do not guarantee the accuracy or reliability of third-party content or tools.

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* The information on this website is general in nature and does not take into account your personal objectives, financial situation or needs. Lending criteria, fees, terms and conditions apply. You should consider whether any information or product is appropriate for your circumstances before making financial decisions.

** Liran Morris (Credit Representative 548043) is authorised under Australian Credit Licence 389328. Australian Credit Licence held by Connective Credit Services Pty Ltd.