Gadsden Finance Mortgage Brokers - FAQ

In most cases, no. Our service is usually at no cost to you because the lender pays us once your loan settles.

We’ll always let you know upfront if there are any circumstances where a fee may apply.

A mortgage broker acts as your personal home-loan expert. Instead of going directly to one bank, we compare loans from dozens of lenders to find the best rate, structure, and features for your situation.

As brokers based in Bendigo and Ocean Grove, we understand both regional and coastal property markets, but we also work with clients Australia wide. We handle the legwork, the paperwork, and the negotiation — making the whole process faster, easier, and often far cheaper than going it alone.

No—we help clients Australia wide. Whether you're in Melbourne, Sydney, Brisbane, Perth, Adelaide, or anywhere regional, we can assist remotely via phone, email, or video call. If you prefer a face-to-face appointment, you're welcome to visit our offices in Bendigo or Ocean Grove.

A bank will only show you their own products—but a broker compares loans across dozens of lenders to find the best fit.

And let’s be honest… would ANZ ever tell you that down the road at NAB you can get a better rate?

A broker will.

No. Banks do not increase interest rates or fees to cover a broker’s commission. Lenders pay brokers out of their existing marketing budgets — meaning you get expert home loan guidance without paying extra.

In fact, brokers often negotiate better rates than what the bank offers directly.

We assist with all types of lending, including:

• First home buyers

• Refinancing

• Investment home loans

• Construction loans

• Low-deposit and LMI-reduced options

• Self-employed and complex income applications

• Debt consolidation

• Car Loans and Personal Loans

• Commercial, Business and Asset Finance

No matter where you live, we tailor the loan to your goals and situation.

Borrowing power depends on your income, expenses, deposit, debts, and credit history—not your location. And every bank/lender will assess these variables differently depending on their individual policies!

It can be quite complex, but we can assess your borrowing capacity and provide a full breakdown of how much you can comfortably afford.

Buying a home involves several professionals who each play a specific role. Here’s a simple breakdown of who does what:

🧑‍💼 You (the Buyer)

You choose the property, make the offer, organise your finance, and ultimately sign the contract. As your broker, we guide you through the financial side so you know exactly what you can afford and what to expect.

🏦 Your Mortgage Broker (that’s us!)

We:

• Assess your borrowing power

• Compare loans from multiple lenders

• Recommend the right structure and rate

• Manage the application and paperwork

• Liaise with the bank, conveyancer, and agent

• Guide you from pre-approval to settlement

In simple terms, we quarterback the finance so everything runs smoothly.

💰 Your Lender or Bank

The lender provides the home loan. They:

• Assess your application

• Conduct a valuation

• Issue loan approval

• Prepare loan documents

• Provide funds on settlement

We communicate with the lender on your behalf at every step.

📄 Your Conveyancer or Solicitor

They handle the legal side of the purchase. Their role includes:

• Reviewing the contract and Section 32

• Checking for risks or hidden issues

• Managing the property title transfer

• Coordinating settlement

• Communicating with the seller’s conveyancer

They ensure the property is legally and safely transferred into your name.

🏠 The Real Estate Agent

Engaged by the seller, the agent helps market and sell the property. They:

• Assist with inspections

• Present offers to the vendor

• Negotiate between buyer and seller

• Facilitate communication

Remember: the agent works for the seller, not the buyer.

🔍 Building & Pest Inspector (optional but recommended)

They inspect the property for:

• Structural issues

• Pest damage

• Maintenance problems

• Safety concerns

This can protect you from unexpected costs down the track.

🧑‍🔧 The Vendor (Seller) and Their Conveyancer

The vendor is the person selling the property. Their conveyancer:

• Prepares the contract

• Provides the Section 32

• Negotiates settlement terms

• Ensures the title is transferred correctly to you

They represent the seller’s legal interests.

In Summary

Your mortgage broker handles the finance, your conveyancer handles the legal, the agent manages the sale, the lender provides the money, and inspectors help ensure the property is sound. Together, these parties help your purchase move from offer to settlement smoothly.

Yes and no. Local knowledge is definitely valuable — especially since our brokers are long-time locals in Bendigo and Ocean Grove, with a strong understanding of regional property trends, lending nuances, and local buying conditions.

But the real advantage is that we also work with specialist real estate agents, valuers, and lender contacts all over Australia. This means you get the best of both worlds:

• Local expertise when you need it

• National support when you’re buying, selling, or investing anywhere in the country

So whether you're purchasing in Bendigo, the Surf Coast, regional NSW, or inner-city Brisbane, we have the experience and connections to guide you confidently.

Yes. Many Australian homeowners use the equity in their current property to:

• Purchase an investment property

• Buy a new home

• Build or renovate

• Consolidate debts

Your mortgage broker can calculate your usable equity, assess borrowing power, and structure your loan(s) to minimise risk and maximise flexibility.

Renovations can be financed through:

• A construction loan

• Increasing your current home loan

• Using equity

• A personal loan (for smaller works)

• A line of credit

We help you compare these options, understand approvals, and choose the most cost-effective pathway for your renovation project — whether you’re refreshing a Bendigo period home or extending an Ocean Grove coastal property. Or making changes to a property elsewhere in Australia.

Absolutely!

Although we have Mortgage Brokers based in Bendigo and Ocean Grove we already have many clients Australia wide, because most of our work can be completed 100% online.

We compare lenders, negotiate rates, handle the paperwork, and guide you through every step—no matter which state you live in.

Timeframes vary between lenders, but generally:

• Pre-approval: 1–5 business days

• Full approval: 5–15 business days

Some lenders offer faster turnaround times. We’ll help you choose the options that match your timeline.

Not always.

You don’t always need a formal lender pre-approval to buy a property—some buyers choose to proceed without one, especially in private sale situations or when timing is tight.

However, it’s always a smart idea to sit down with your broker first. We’ll help you understand:

• Your true borrowing capacity

• Your comfortable purchasing budget

• What lenders are likely to approve based on your situation

• Any risks or policy issues you should be aware of

Even if you don’t go through the full pre-approval process, having a clear financial picture makes your property search more confident, realistic, and stress-free.

Typically:

• Identification (driver’s licence, passport)

• Recent payslips or income documentation

• Bank statements

• Deposit or savings evidence

• Existing loan/credit card statements

We’ll give you a personalised document checklist based on the lender you choose.

Yes. Depending on the lender and your circumstances, you may be able to buy with:

• A 5% deposit

• Government first home buyer schemes

• Reduced LMI options

• Guarantor loans

We’ll help you explore all available pathways.

We certainly do. Whether you’re investing in Bendigo, the Surf Coast, or interstate, we help structure your loan for tax efficiency, cash flow, and long-term growth.

Lenders Mortgage Insurance protects the lender, not the borrower. It’s usually charged when you borrow more than 80% of a property’s value (less than a 20% deposit).

LMI can be expensive, but sometimes paying it helps buyers enter the market sooner. There are also ways to reduce or avoid LMI, such as guarantor loans, professional packages, or government schemes. Your Gadsden Finance Mortgage Broker will guide you through the best option.

The Reserve Bank of Australia (RBA) sets the official cash rate, which influences interest rates across the country. Lenders then decide their own rates based on:

• Funding costs

• Competition

• Economic conditions

• Risk and lending appetite

Your Gadsden Finance Mortgage Broker monitors rate changes and can help you refinance or renegotiate when better options become available.

Yes — in many cases, mortgage brokers can secure better home loan rates than what you’ll find going directly to a bank. As accredited brokers, Gadsden Finance Bendigo and Gadsden Finance Ocean Grove have access to a wide panel of lenders, including major banks, non-bank lenders, and specialist providers. This allows us to compare interest rates side-by-side and find options that suit your budget and long-term goals.

Banks can only offer their own products, but a broker isn’t tied to one institution. We often have access to:

• Exclusive broker-only rates

• Special discounts and cashback offers

• Policy exceptions based on strong applications

• Lower rates negotiated directly through our broker network

And as we like to say… Would ANZ ever tell you that NAB is offering a better deal? A mortgage broker will.

Whether you’re refinancing, buying your first home, upgrading, or investing, Gadsden Finance works to ensure you’re getting the most competitive rate available — no matter where you live in Australia.

With offices in Bendigo and Ocean Grove and clients Australia-wide, we help you compare the market, save money, and structure your home loan for long-term success.