FAQ
Frequently Asked Questions
A few things you might be wondering.
Every situation is different, but some questions come up more often than others. Here are a few answers to help you know what to expect.
Getting Started
-
You don’t need to wait until you’re ready to apply for a home loan.
Speaking with a mortgage broker earlier can help you understand your borrowing position, deposit requirements and the steps involved before you start making decisions.
Whether you’re planning to buy your first home, move, refinance or invest, we can start with where things are today and help you understand what to work towards.
-
We’ll start by understanding your plans, priorities and current financial position.
You can ask questions, talk through what you’re considering and get a clearer idea of what your home loan or finance journey could look like.
You don’t need to have everything figured out, and there’s no expectation that you make a decision during the first conversation.
-
You don’t need to prepare anything formal for an initial conversation.
As we move forward, we may ask for information such as your income, living expenses, savings, existing loans and other financial commitments. Depending on your circumstances, documents such as payslips, bank statements or financial statements may also be required.
We’ll let you know what’s needed and when.
-
Yes. In many cases, speaking with a mortgage broker before you’re ready to apply can be useful.
It can give you time to understand your borrowing position, consider your deposit or equity, identify anything that may need attention and plan your next steps without the pressure of an immediate application.
Sometimes the right next step is simply knowing what to work towards.
Working with Nestia
-
A bank generally offers its own lending products. A mortgage broker can consider options from a panel of lenders available to them.
At Nestia, we also help you understand the differences between suitable options, explain the trade-offs and manage the home loan application process through to settlement.
The aim isn’t simply to find a loan. It’s to help you make sense of the options in the context of your circumstances and plans.
-
Nestia has access to a panel of banks and other lenders through our approved lending arrangements.
We don’t consider every lender or home loan available in the Australian market. The lenders we consider will depend on your circumstances, borrowing needs and the products available through our lender panel.
When we recommend an option, we’ll explain why we believe it is appropriate for your circumstances.
-
In many residential lending situations, mortgage brokers are paid a commission by the lender when a loan settles, rather than charging the client directly.
However, fees may apply in some circumstances or for particular types of finance.
If a fee is payable by you, we’ll explain it before you proceed. We’ll also provide the required information about relevant commissions and remuneration.
For more information, please see our Credit Guide.
-
When the mortgage broker best interests duty applies, we are required by law to act in your best interests when providing credit assistance and to prioritise your interests where a conflict exists.
For us, that also means taking the time to understand what matters to you before looking at lending options.
Home Loans & Refinancing
-
Your home loan borrowing capacity depends on factors including your income, living expenses, existing debts, financial commitments, dependants, deposit or equity and the lender’s assessment criteria.
Different lenders can assess the same financial position differently, so there isn’t one borrowing figure that applies across every lender.
We can look at your circumstances and help you understand what may realistically be possible before you start making property decisions.
-
There isn’t one deposit amount that applies to everyone.
How much you may need will depend on your circumstances, the property you’re looking to buy, the lender and the loan options available to you. In some situations, it may be possible to purchase a home with a relatively small deposit.
There may also be government schemes, guarantees or concessions that can reduce the amount you need to contribute upfront.
We can look at your position and help you understand what may be possible, including the deposit and other upfront costs you’ll need to plan for. -
Buying your first home comes with a lot of moving parts — from understanding how much you may be able to borrow and what deposit you’ll need, to choosing a loan and navigating the approval process.
A mortgage broker can help first home buyers understand borrowing capacity, deposit requirements, loan options, pre-approval and the finance process involved in purchasing a first home. You may be eligible for first home buyer support, including the First Home Owner Grant (FHOG) and other government schemes or concessions that may be available to you.
At Nestia, we’ll help you make sense of what applies to your circumstances, explain the finance process clearly and guide you through each step towards your first home.
You don’t need to have everything figured out before you begin -
Refinancing may be worth considering if your circumstances have changed, your current loan no longer suits your needs, you want to review your interest rate or loan structure, or you’re considering accessing equity for another purpose.
But refinancing isn’t automatically better.
We can compare your current position with available alternatives and consider the interest rate, fees, features, switching costs and your broader plans before determining whether refinancing makes sense.
-
Yes. A mortgage broker can help you explore lending options for purchasing or refinancing an investment property.
Depending on your circumstances, this may involve considering borrowing capacity, available equity, loan structure and different lender policies.
At Nestia, we look at the finance in the context of your broader plans rather than treating the investment loan as an isolated transaction.
Where appropriate, you should also seek independent tax, financial or legal advice about your investment strategy.
Business & Self-Employed
-
Yes. Being self-employed doesn’t prevent you from getting a home loan, but lenders may assess your income differently from someone earning a regular PAYG salary.
Depending on the lender and your circumstances, they may consider financial statements, tax returns, business income and other supporting information when assessing your application.
We can help you understand how different lenders may view your circumstances and what information may be required.
-
Yes. Nestia can assist with a range of business and commercial lending needs, including commercial property finance, business lending and asset finance.
Business and commercial lending can work differently from residential home loans, so we start by understanding the purpose of the finance, your business circumstances and what you’re trying to achieve.
From there, we can explore appropriate finance options available through our lending arrangements.
Still have a question?
Sometimes it’s easier to talk it through.
Every financial situation has its own details. If you can’t find the answer you’re looking for, get in touch and we can start with what’s on your mind.