Resources
Guides and explainers.
Borrowing is complicated enough without jargon. These are the explainers we find ourselves giving most often, written in plain English.
Start here
First home buyer's guide
Everything from saving the deposit to settlement day — grants, schemes, guarantor options and the order things actually happen in.
ReadUnderstanding borrowing power
How lenders decide what you can borrow, why two banks can give you different answers, and how to improve your own position.
ReadLow doc and self-employed lending
What alternative income verification actually means, which documents lenders accept, and the trade-offs against full doc lending.
ReadBuying property in an SMSF
Limited recourse borrowing explained — the structure, the compliance rules, and why specialist advice up front saves money later.
ReadRefinancing: is it worth it?
How to work out whether switching genuinely saves you money once discharge fees, establishment costs and break costs are counted.
ReadInvestment property structuring
Equity release, interest-only periods and how lenders assess existing debt — and how those decisions affect your next purchase.
ReadGlossary
Lending terms, in plain English
LVR
Loan-to-value ratio — the loan amount as a percentage of the property's value. Above 80% usually attracts lenders mortgage insurance.
LMI
Lenders mortgage insurance. A one-off premium protecting the lender (not you) when your deposit is under 20%.
Offset account
A transaction account linked to your loan. Its balance reduces the interest you're charged without locking the money away.
Redraw
Extra repayments you've made that you can withdraw again. Generally more restrictive than an offset facility.
Interest only
A period where you pay only the interest, not principal. Lowers repayments short-term but costs more over the loan's life.
Serviceability
The lender's assessment of whether you can repay the loan, based on income, expenses, debts and their own buffers.
Assessment rate
A higher rate lenders use to test your ability to repay, typically around 3% above the actual rate.
Bridging finance
Short-term funding that covers the gap when you buy before your existing property sells.
Settlement
The day the property's ownership transfers and the loan funds are drawn down. Usually two to four weeks after formal approval.
Bare trust
The separate trust that holds an asset in an SMSF limited recourse borrowing arrangement.
Progress payments
Staged fund releases on a construction loan, drawn against work completed — slab, frame, lock-up and so on.
Comparison rate
A rate that bundles the interest rate with most upfront fees, giving a more realistic picture of the true cost of a loan.
Prefer a straight answer instead?
Tell us your situation and we'll skip the reading list — a broker will explain exactly how it applies to you.