Home Loan Services

The mortgage broking process doesn’t need to be stressful. LMB will get you the perfect home loan, support you throughout the journey, and give you the confidence to know you’ve made the right choice. 

Finding a Home
Loan

We’ll help you secure the best mortgage for your first home. Our expert team will support and provide guidance at every stage of the buying process. 

Refinancing a Loan

We continuously research the market so our clients receive the best rates available. We negotiate on your behalf until we find you a loan that works.

Investment Property Advice

Looking to grow your wealth through an investment portfolio? We provide unbiased, objective advice that’s tailored to your lifestyle.

We’re proud to work with some of Australia’s best lenders.

 FAQs

  • Saving a 20% deposit when purchasing your first home will help you avoid paying LMI. It’s possible to get a home loan with as little as a 5% deposit with some lenders. Buyers should also take stamp duty and other legal fees into consideration. 

  • Many first-home buyers are eligible for a first-home buyer grant, which enables the purchase with a smaller deposit. Some states also have stamp duty concessions. 

  • Stamp duty refers to the tax the government charges when a property sells. It’s calculated as a percentage of the price of the property, and this percentage varies on the state or territory. Most governments also offer concessions for first-home buyers.

  • There are a number of extra costs to be wary of when buying. This includes: 

    — Stamp duty
    — Inspection reports
    — Conveyancing
    — Mortgage registration
    — Transfer fees
    — Settlement fees
    — Loan application fees
    — Legal fees
    — Lender’s mortgage insurance (LMI)

  • Sometimes, if you have a guarantor who provides security to support another person’s home loan, it’s possible. Being a guarantor also means they take on responsibility for the loan if the borrower defaults.

  • Pre-approval refers to an unofficial assessment of your borrowing capacity. It’s a good idea to get a pre-approval before you start looking to buy—that way, you know how much you’ll be able to spend. 

  • LMI is the fee you pay to the lender if you borrow more than 80% of the property’s value.

  • Though it depends on your loan, you could incur a penalty if you’re paying off your current mortgage early. However, this can be offset by repayment savings when you change home loans. 

  • Refinancing is the process of altering your home loan to suit your current circumstances. 

  • Equity refers to the difference in the value of a property and the borrowings on that property—and it’s often possible to use this equity as a deposit or when increasing your borrowings.