Frequently Asked Questions

Why should I use a Mortgage Broker?

We work for you, not the banks. Our goal is to keep more of your money in your pocket and less of your money appearing on the banks’ balance sheets at the end of the year!

With literally hundreds of banks, lenders and loan products available to us at the click of a button, we provide choice to our clients and work with our banks and lender partners to keep competition alive.

When you have a mortgage broker behind you, the banks know that if they don’t give you the best deal, we will find you another bank or lender who will.

We do the legwork for you. From negotiating with the banks and finding a product to suit your needs and financial plan, to preparing and submitting a strong application to the bank assessment teams.

We explain your loan documentation in plain English, and liaise with you, the banks and your solicitor to ensure a smooth property settlement process.

It doesn’t end there. We are here for you every step of the way. We’ll ensure that your loan products and rates continue to meet your needs into the future. It’s important that your loan remains competitive over the years.

Our mortgage brokers have many years of experience, we’ll be here for you well into the future. The chances are, if you deal with one of our brokers today, we’ll still be here for you when your next big financial event comes around.


What does it cost to use a Loanright Mortgage Broker?


On most occasions, we are a paid commission from your lender after the settlement of your new loan. Bank commission structures vary only slightly from bank to bank, meaning that these commissions do not influence which lender we place your loan with – we ALWAYS have your best interests at heart when selecting the right loan for you.

We know that by providing our clients with a positive experience and the best possible financial outcomes, our clients will become our best advocates among their friends, family and local communities.

What is the best home loan interest rate available?

We work with more than 40 lenders, so we have access to the best rates in the lending marketplace.

However, it’s not all about the rate. Of course the interest rate is very important, but it’s imperative to ensure your loan products are structured to match your ongoing financial needs and situation.

You should consider how you want to repay your mortgage and organise your cashflow. You may need an offset account or a redraw facility, both of which may not be available on a home loan product with a super low rate.

Low interest rates are often fixed terms, so you will also need to consider whether a fixed loan or variable loan would suit you.

At Loanright, we always strive to present you with multiple options, taking into consideration all aspects of the home loan products and your personal scenario. Ultimately, the choice is yours and we will guide you through the pros and cons in plain English. This ensure you are able to decide on a loan product and structure that works for you now and into the future.

Contact us today to discuss your scenario.


How much of a deposit do I need?

Most Australian lenders require you to have a minimum deposit of 5% – 10% of the purchase price, plus enough savings to cover your purchasing costs (eg. stamp duty and conveyancing).

If you’re not quite there yet, give us a call and we’d be happy to provide you with some pointers on saving more of a deposit or next steps. There are also some great resources on our blog.

How do I choose a loan that’s right for me?

There are hundreds of different loans available, that’s why we’re here. We help you to understand your options, select the right loan and prepare a strong loan application.

We’re with you from that very first discussion, until the end of your loan term.

A loan is not a ‘set and forget’ commitment. It’s important to review your loan each year to ensure it still meets your needs, particularly if your scenario has changed.

There’s no right loan for everyone. But there’s a loan that’s right for you.

How do I start the process?

It’s always best to start with a phone call with one of our friendly Mortgage Brokers. You can book an appointment online, request a call back or just give us a call right now!

Our Brokers are here to answer any questions you have. We’ll listen to your needs, discuss your options and you’ll get a feel to see if we are the right fit for you. Our client relationships are really important to us, a home loan is a big commitment so we want you to feel confident that we have your best interests in mind. We’re with you for the long run!

How long does it take to have my loan approved?

After we listen to your needs, we estimate your borrowing power and repayments. You will need to provide all of your personal and financial information to us for review.

Then we’ll match you with a lender, and prepare and submit a strong loan application on your behalf.

Loan approval can take anywhere between two to ten business days. It depends how busy the banks are, and how complex your loan application is. We follow up the lender if there is any delay to make sure your application is assessed as quickly as possible.

I have bad credit history – can you help me?

If you have a bad credit history, there are some things you can do to fix it. This is usually determined on a case by case basis – we recommend speaking with a financial adviser if you need help with this.

‘Marks’ on your credit file can be due to missing a credit card or loan payment, or not paying your bills on time.

If you’re concerned about your credit history, you’re able to get a copy of your credit file before applying for a loan to check and see if there are any ‘marks’ against your name.

I am self-employed – can you help me?

Yes! If you are self-employed and seeking to purchase a property or refinance an existing loan, then get in touch with one of our self-employed lending specialists today. Read more here.

I need a car loan, can you help me?

Yes! A lot of our home loan customers often buy a new car within three months of settling their home loan. We have asset finance specialists in our office to assist you with car loans, machinery loans, business equipment loans and more!

Is Loanright owned by a Bank?


Loanright is a 100% family owned Australian company based on the Sunshine Coast.

We actively support local Sunshine Coast businesses and community organisations and believe in the fundamental concept of ‘Locals supporting locals’.

If you are a local business or community organisation that needs our support, we would love to hear from you.

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If you’d like more information about how to use finance to grow your business, then reach out and our commercial finance team will happily assist. Whether you’re in the market for vehicle finance, or specialist equipment, we have 100+ lending partners to choose from. You’ll be tapping into Australia’s largest network of banks and lenders.

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