A mortgage broker assesses your needs and financial position, compares suitable options from the lenders they can access and helps manage your application. Your broker should also explain why a recommended loan may be appropriate for you.
Frequently Asked Questions
FAQs
Find clear answers by topic, or search all AAA Mortgage Solutions FAQs by keyword.
General FAQs
6 questions
Borrowing power depends on income, living expenses, existing debts, dependants, deposit or equity, loan purpose and the lender's assessment rules. A broker can calculate an initial range, but only a lender can issue formal approval.
Lenders commonly pay brokers a commission when a loan settles. Fees can apply in some circumstances. AAA should explain any fees, commissions and other relevant costs before you proceed.
Yes. Depending on the lender and loan type, income may be assessed using tax returns, financial statements, business activity statements, account statements or other acceptable evidence.
No. Pre-approval is conditional and may change if your finances, the property, interest rates or lender policy change. Final approval is still required before settlement.
Speak with a broker before you commit to a property or new finance. Bring a summary of your income, expenses, debts, savings or equity and what you want to achieve.
First Home Buyer
17 questions
It depends on your income, expenses, existing debts, dependants, deposit, credit history and the lender's assessment rate. A borrowing-power estimate is useful for planning, but it is not loan approval.
Borrowing power depends on income, living expenses, existing debts, dependants, deposit or equity, loan purpose and the lender's assessment rules. A broker can calculate an initial range, but only a lender can issue formal approval.
Many buyers aim for a 20% deposit plus purchase costs because this can avoid LMI, but eligible borrowers may be able to buy with less. Your actual requirement depends on the lender, property, government support and source of funds.
Compare the rate, comparison rate, fees, repayment type, features and flexibility against your goals. A low rate is valuable, but so is a loan that supports extra repayments, offset savings or future changes without unnecessary cost.
Potentially. Some lenders allow a parent or close family member to provide a limited guarantee supported by equity in their property. The arrangement affects the guarantor's finances and property, so independent advice is important.
LMI is insurance that protects the lender if the borrower cannot repay the loan and a loss remains after the property is sold. It is commonly associated with higher loan-to-value ratios and does not protect the borrower.
Useful features may include an offset account, redraw, extra repayments, repayment flexibility, a split fixed/variable option and the ability to change products. Features can carry fees, so value them according to how you will actually use them.
Allow for the deposit, conveyancing or legal work, building and pest inspections, government charges, loan fees, insurance, moving costs and an emergency buffer. Eligible first-home-buyer relief may reduce some costs but should be confirmed before purchase.
The usual stages are fact-finding, document collection, option comparison, application, lender assessment, valuation, conditional or formal approval, document signing and settlement. Timing varies by lender and by the complexity of the application.
You can bid with pre-approval, but it does not guarantee final approval. Auction contracts are usually unconditional, so have the contract and property reviewed, confirm your bidding limit and understand the finance risk before bidding.
Start early, keep a savings buffer, reduce unnecessary debts, avoid new credit applications, set a firm property budget and get professional contract advice. Do not treat the maximum a lender may offer as the amount you must spend.
Yes, but lenders generally include compulsory student-loan repayments when assessing your available income. The balance and repayment impact may affect borrowing power differently across lenders.
Some lenders require part of the deposit to be held or accumulated as genuine savings over a set period. Other acceptable evidence or exceptions may apply, particularly for rent history, gifts, guarantees or eligible schemes.
Some lenders accept a genuine, non-repayable gift, often with a signed gift letter and evidence of the funds. If the money must be repaid, it is a debt and needs to be disclosed.
Possibilities include the Australian Government 5% Deposit Scheme, Help to Buy, the First Home Super Saver Scheme and South Australian first-home-buyer assistance. Each program has separate eligibility, property and application rules.
Yes. An early conversation can clarify a sensible price range, repayment comfort, deposit options and potential approval issues before emotion and deadlines enter the decision.
Common issues include insufficient income or deposit, high living expenses, existing debts, poor account conduct, undisclosed liabilities, credit problems, unsuitable property security or a change in circumstances after pre-approval.
Next Home Buyer
7 questions
Yes, if you can fund the deposit and meet the lender's requirements for the peak debt. Options may include savings, equity release or bridging finance.
Allow for selling-agent and marketing fees, conveyancing, discharge and new-loan costs, inspections, government charges, removalists, insurance and possible temporary accommodation or overlapping interest.
Bridging finance temporarily covers the gap between purchasing the new home and selling the existing one. The lender assesses the highest combined debt and the expected debt remaining after sale.
Potentially. Equity is the property's value less the debt secured against it, but lenders generally allow access only up to their acceptable loan-to-value ratio and subject to serviceability.
Sell first for greater price and funding certainty; buy first for greater control over finding the next home. The better choice depends on cash reserves, serviceability, market conditions and your tolerance for timing risk.
Yes, some loan structures use both the current and new properties as security. Understand how this affects flexibility, sale proceeds and the process for releasing the old property after settlement.
Options may include negotiating a simultaneous or extended settlement, using short-term bridging finance or arranging temporary accommodation. These arrangements should be planned before contracts become unconditional.
Investment Loans
6 questions
Interest-only can suit some strategies and cash-flow needs, but it increases the time before principal reduces and may cost more overall. Compare the repayment change at the end of the interest-only period.
There is no universal best rate. The available rate depends on the lender, loan-to-value ratio, repayment type, loan size, property and borrower profile. Compare the comparison rate, fees and features as well as the advertised rate.
Start with your strategy, expected holding period, cash flow and future borrowing plans. Then compare total cost, repayment type, offset or redraw rules, fixed/variable structure and lender policy.
Refinancing may reduce costs, change the loan structure, add useful features or release equity. Benefits should be measured after discharge, application, valuation, break and ongoing costs.
It depends on the property price, purchase costs, lender's maximum loan-to-value ratio and your serviceability. Usable equity is usually less than total equity because lenders keep a valuation buffer.
This is a legal, tax and investment decision rather than a lending-only decision. Obtain advice before signing a contract because the ownership entity can affect finance options, costs, obligations and future flexibility.
Construction Loans
9 questions
Land usually settles in one payment, while construction funds are released in stages. The lender assesses the combined project, your contribution and the expected value when the home is complete.
The lender reviews your financial position and project documents, orders a valuation based on the plans and contract, confirms conditions and issues loan documents before building funds can be drawn.
Progress payments are staged payments to the builder after agreed milestones, such as slab, frame, lock-up, fixing and completion. The lender may require invoices, inspections or other evidence before releasing funds.
Include land, site works, demolition if relevant, design and engineering, approvals, connections, landscaping, floor coverings, window treatments, variations, interest during construction and contingency funds.
You can discuss borrowing capacity earlier, but formal construction approval normally requires the plans, specifications and relevant approvals or evidence acceptable to the lender.
Common requirements include a signed building contract, plans, specifications, progress-payment schedule, builder licence and insurance details. Requirements vary by project and lender.
Yes. A fixed-price contract is commonly required, but check exclusions, provisional sums, prime-cost items and variation clauses because the final amount can still change.
You may need to use your own funds, revise the project or apply for additional lending. Extra finance is not guaranteed, so keep a contingency and approve variations carefully.
Potentially. Once completion requirements are met, you can review the ongoing loan and compare other options. Consider valuation, discharge costs and whether any fixed-rate or lender conditions apply.
Self Employed Home Loans
7 questions
A low-doc loan uses approved alternative evidence when standard income documents are not available. It is not a no-document loan, and the borrower must still satisfy responsible lending, credit and verification requirements that apply.
They may review taxable income, business profit, wages, drawings, ownership share, business liabilities, trading history and recent performance. The exact method varies by lender and entity type.
Offset accounts, redraw, extra repayments and split loans may help manage variable cash flow, but compare fees and access rules. Keep business and personal transactions organised for easier recordkeeping.
Yes. Depending on the lender and loan type, income may be assessed using tax returns, financial statements, business activity statements, account statements or other acceptable evidence.
Possibly. Some lenders accept one year's figures for established businesses or where their policy is otherwise met. They may also request BAS, account statements, an accountant's explanation or earlier information.
Potentially, but the lender will want to understand why it changed and whether the new level is sustainable. Recent growth, a new contract, an industry change or a restructure may need supporting evidence.
Some lenders may add back acceptable non-cash or one-off expenses, such as certain depreciation, interest or extraordinary costs. Treatment varies, and every adjustment must be supported and allowed by policy.
Low Deposit Home Loans
9 questions
Potentially. The minimum depends on the lender, property, purchase costs and whether LMI, a family guarantee or government support is used.
Some lenders accept a limited family guarantee. The guarantor's property may be at risk if the borrower defaults, so independent legal and financial advice is strongly recommended.
LMI is often required above a lender's preferred loan-to-value ratio, but it may be avoided through a larger deposit, eligible government scheme, family guarantee or certain professional lending policies.
Calculate the deposit together with government charges, legal work, inspections, loan costs and a safety buffer. A quoted percentage alone does not show the full amount needed for settlement.
Some eligible buyers may have pathways starting from a small percentage of the purchase price, but lender and scheme criteria differ. The lowest possible deposit is not always the safest budget.
Eligible buyers under the Australian Government 5% Deposit Scheme can avoid LMI because the government guarantees part of the loan to the participating lender. All scheme and lender requirements still apply.
The former First Home Guarantee now sits under the Australian Government 5% Deposit Scheme. Ask about the current rules and property price cap for the location where you plan to buy.
Possibly, through a genuine gift, family guarantee or another documented arrangement. The lender must understand whether the funds are repayable and may require evidence of their source.
Compare the benefit of a larger deposit and lower loan against property prices, rent, time and your readiness for repayments and ownership costs. Keep a buffer whichever path you choose.
Family Guarantee Home Loans
7 questions
Policies vary. Parents are common, while some lenders may consider other close family relationships. The guarantor usually needs acceptable property equity and must meet the lender's requirements.
Not necessarily. A guarantee commonly provides additional security rather than transferring money. A cash gift is a different arrangement.
Some lenders offer limited guarantees covering an agreed portion plus related costs. The legal documents determine the exposure and must be reviewed carefully.
It may reduce the lender's effective exposure enough to avoid LMI, subject to policy, valuation and approval.
Removal may be possible after repayments and/or property growth reduce the loan-to-value ratio to an acceptable level. A new valuation and lender approval are usually required.
Yes. Lenders may consider the guarantee when assessing the guarantor's future credit applications, and the secured property can be affected until the guarantee is released.
Independent legal advice is commonly required and independent financial advice may also be appropriate. The guarantor should understand the worst-case outcome, not only the intended plan.
Home Loan Pre Approval
5 questions
It is a conditional lender assessment based on your financial information and stated loan request. Conditions, expiry and assessment depth vary by lender.
Many approvals are time limited, often around three months, but the exact period varies. Updated documents or a new assessment may be required if it expires.
It is often useful because it identifies a likely range and possible issues early. It does not replace a finance condition where one is available and appropriate.
Yes. Interest rates, lender policy, income, expenses, debts, credit enquiries, dependants or the chosen property can change the outcome.
No. Pre-approval is conditional and may change if your finances, the property, interest rates or lender policy change. Final approval is still required before settlement.
Buying At Auction
2 questions
Yes, but pre-approval does not remove the risk of an unconditional auction contract. The property and your circumstances must still satisfy the lender for final approval.
Know your absolute limit, deposit arrangements and settlement date. Obtain legal contract advice and complete property checks before bidding because there is usually no finance clause or cooling-off period.
Refinance
33 questions
Review the loan when rates change, a fixed term approaches expiry, your property value or income changes, you need different features or it has been a while since the last review. A review does not always mean you should switch.
Potentially. The rate available depends on your loan-to-value ratio, loan amount, repayment type, credit profile and lender policy. Compare fees and the comparison rate, not only the headline rate.
Possibly, if there is sufficient equity and serviceability. Use a repayment plan that clears the consolidated portion sooner and avoid rebuilding the debts that were paid out.
The lender values the property, deducts existing secured debt and applies its maximum acceptable loan-to-value ratio. You must also show the purpose and ability to repay the increased loan.
It can if the new structure reduces costs and you direct the saving or additional repayments to principal. A shorter term or offset strategy may also help, provided repayments remain affordable.
After a fact-find and comparison, the new lender assesses your application and property. If approved, loan documents are signed, the existing lender is discharged and the new lender pays out the old loan at settlement.
Compare offset accounts, redraw, extra repayment rules, fixed-rate limits, split loans, repayment frequency, package fees and the ability to change or close the loan later.
Check the first repayment, redirect salary and direct debits if using an offset, confirm the old loan is closed and review the new loan regularly against your goals.
Yes, but the current lender may charge a break cost and other exit fees. Obtain a current payout figure and compare the net benefit before deciding.
Break costs can apply when a fixed-rate loan is repaid or changed before the fixed period ends. The amount depends on the contract, timing, balance and market-rate movements and can be substantial.
Ask the current lender what it can offer, then compare it with suitable alternatives. Staying may be faster and cheaper; moving may provide better value, policy or features.
Possibly. The new lender completes a fresh assessment using current evidence. Reduced, variable or recently changed income may narrow the options even if the existing loan has been paid on time.
Usually, if the balance, term and repayment type stay the same. Fees or changes to the loan structure can affect the overall result.
It can reduce the required repayment, but interest may be charged for longer. Compare the total cost and consider making extra repayments when affordable.
An offset account usually reduces interest calculated rather than changing the contractual minimum repayment immediately. The benefit depends on the balance kept in the account and any fees.
Contact your lender's hardship team early. Free financial counselling is also available. Refinancing may not be suitable or available when financial stress is already severe.
Depending on the lender, eligible debts may include credit cards, personal loans, car loans and other liabilities. All debts and limits must be disclosed.
It may, because home-loan rates can be lower and the term may be longer. A lower monthly repayment does not automatically mean a lower total cost.
The lender applies a maximum loan-to-value ratio after adding the debts and costs to the home loan. It also checks that you can afford the new loan.
A new credit application and closure of accounts can affect a credit file. The longer-term impact depends on repayment conduct, credit limits and future applications.
The debt becomes secured against your home, the term may become much longer and cleared accounts can be used again. A disciplined repayment and account-closure plan is important.
If repayments are already unmanageable, contact the lender's hardship team and a free financial counsellor early. Do not delay urgent support while waiting for a refinance outcome.
It depends on the lender's maximum loan-to-value ratio, valuation and the total debt after release. Many borrowers cannot or should not access all their equity.
Not always. Your current lender may allow a loan increase or separate split. Refinancing can be considered if another lender or structure offers a better overall fit after costs.
Common purposes include renovations, an investment deposit, education, major purchases or debt consolidation. Lender evidence and policy requirements vary by purpose.
Potentially. Keep the equity loan separate and obtain tax advice about deductibility and recordkeeping before funds are used.
Usually, because the loan balance increases. Model repayments at both current and higher rates and keep a suitable cash buffer.
The accessible amount may reduce or the loan-to-value ratio may become too high. You can reconsider the amount, provide relevant property information or compare another lender's valuation process where appropriate.
The interest rate determines interest charged. The comparison rate combines the rate with certain fees and assumptions to support comparison, but it may not reflect your exact loan amount, term or optional costs.
Neither is always better. Fixed rates provide repayment certainty for a period but can restrict extra repayments and create break costs. Variable rates can change and often offer more flexibility.
It may offer a repricing without a full refinance. Compare the revised offer with other suitable loans and confirm whether product or package fees change.
The effect depends on the balance, remaining term and repayment behaviour. Even a small difference can matter on a large long-term loan, but switching costs determine the break-even point.
Only if the loan also suits your eligibility, features and future plans. Check comparison rates, fees, revert rates, cashback conditions and flexibility.
Specialist Loans
4 questions
No. Every lender applies eligibility, credit and verification requirements. A specialist lender may consider different evidence or risks, but approval is never guaranteed.
They can have higher rates, fees or equity requirements because of the assessed risk or complexity. Compare the total cost and whether a later refinance to a mainstream loan may be realistic.
Requirements depend on purpose and lender. Common documents include identification, income or business evidence, account statements, liabilities, contracts, valuations and details of the asset or property.
A broker can review the application and lender feedback, but a decline should not be followed by multiple rapid applications. First identify the cause and whether it can be addressed.
Commercial Loans
5 questions
It varies materially by property type, location, lease, borrower strength and lender. Allow for valuation, legal, due-diligence and government costs as well as the equity contribution.
Pricing may reflect the lender's base rate plus a risk margin, together with establishment, valuation, legal and ongoing fees. Request a complete cost summary.
Common requirements include business and personal financial statements, tax returns, bank statements, lease details, contracts, asset and liability information and a property valuation.
An SMSF may be able to acquire eligible business real property under strict superannuation and borrowing rules. Obtain specialist legal, tax and financial advice before signing or paying a deposit.
They often can be, with review dates, residual balances or different amortisation periods. Understand what happens at expiry and whether refinancing risk exists.
SMSF Loans
6 questions
It may borrow under a permitted limited recourse borrowing arrangement that meets superannuation law and lender requirements. Incorrect structuring can have serious consequences.
Requirements vary by lender and property, and the fund must also retain sufficient liquidity for costs and obligations. Residential and commercial properties can be treated differently.
Generally, a residential SMSF property cannot be used by a member or related party. Obtain specialist advice about related-party and sole-purpose rules.
Eligible business real property may sometimes be leased to a related business on arm's-length terms. Specialist advice is required before proceeding.
Construction and significant improvements can be difficult under limited recourse rules and lender policy. Confirm the legal structure and finance availability before buying land or signing a building contract.
Common requirements include the SMSF trust deed, investment strategy, holding-trust documents, financial statements, contribution history, member information, lease details and purchase contract.
Low Doc Loans
5 questions
It is generally intended for eligible self-employed borrowers with established income but without the standard up-to-date tax documents a lender would normally request.
Depending on policy, evidence may include BAS, business bank statements, GST records or an accountant's declaration. Requirements and time periods vary.
They can have higher rates or fees and may require more equity. Compare the total cost with the value of proceeding before full financials are available.
No. Legitimate lenders still require information and verification. Be cautious of any suggestion that income, liabilities or repayment ability need not be disclosed.
Potentially, when full financial documents and the application meet a standard lender's policy. Future approval and pricing cannot be guaranteed.
Bridging Loans
6 questions
It is temporary finance that covers the period when you own the new and existing properties at the same time. Sale proceeds from the existing home are then used to reduce the debt.
Potentially, through bridging finance, savings or another equity structure. The lender assesses the combined position and the expected debt after sale.
Terms vary by lender and whether the new property is established or being built. Confirm the exact maximum period and what the lender may require if the old home remains unsold.
Some lenders require repayments, while others may allow interest to be added to the balance within limits. Capitalised interest increases the debt and still needs to be affordable under the lender's assessment.
You may face higher interest, the need to reduce the asking price, refinance or meet other lender requirements. If the term expires, the lender can take action under the loan contract, so have a realistic contingency plan.
Bridging can avoid a second move and help secure a property, while renting can provide greater sale-price certainty and avoid peak debt. Compare financial cost, timing risk and practical disruption.
Asset Finance
5 questions
Depending on the lender, vehicles, trucks, plant, machinery, technology and other identifiable business equipment may be eligible.
Some applications can fund a high proportion of the purchase price, while others require a deposit or trade-in. Asset age, type, credit profile and lender policy matter.
A balloon is a larger amount due at the end of the term. It can reduce regular repayments but increases the final obligation and may increase total interest.
Some lenders consider newer businesses with additional evidence, stronger deposits, director support or suitable contracts. Options may be more limited or expensive.
Simple, well-documented applications may move quickly, but timing depends on verification, credit assessment, supplier documents and the asset.
Car Loans
5 questions
It may have a lower rate because the vehicle secures the loan, but eligibility and fees vary. The lender can take the vehicle if contractual obligations are not met.
No. A low promotional rate may be linked to the vehicle price, fees, conditions or a large balloon. Compare the complete purchase and finance cost.
Some lenders allow private sales with identity, ownership, valuation and vehicle checks. Age and type restrictions may apply.
Only if the lower regular repayment supports your plan and you have a realistic way to pay or refinance the final amount. Future vehicle value and refinancing are not guaranteed.
Many loans allow early repayment, but fees or interest rules can apply. Check the contract before proceeding.
Personal Loans
5 questions
Permitted purposes vary and may include major purchases, travel, education, medical costs or debt consolidation. The lender can request evidence.
A secured loan is supported by an acceptable asset, while an unsecured loan is not. Secured lending may have different pricing, limits and repossession risk.
The amount depends on income, expenses, debts, credit history, purpose and lender limits. Borrow only what the budget can comfortably repay.
A formal application generally creates a credit enquiry. Compare likely eligibility before making multiple applications.
Some loans allow extra or early repayments; fees and conditions vary. Check before selecting the product.
Specialist & Non-Conforming Loans
6 questions
Possibly, depending on what happened, how recent it was, the amount, current conduct, deposit or equity and ability to repay. Obtain your credit report and disclose the full history.
Some lenders may consider an application after discharge or completion, subject to time, conduct, equity and other criteria. Specialist advice and full disclosure are essential.
It often can because the lender prices for additional risk or complexity. Compare rates, fees, early-repayment costs and the feasibility of refinancing later.
Potentially, after the credit, income, equity or documentation position improves. There is no guarantee, so the initial loan must remain affordable on its own terms.
No. Multiple enquiries can weaken the application. Review policy fit first and apply to a lender with a reasoned basis for consideration.
Contact the credit provider or credit-reporting body and use the formal correction process. Be cautious of firms promising to erase accurate information.
About Us
7 questions
Yes. AAA Mortgage Solutions describes itself as an independently owned and operated South Australian company.
A mortgage broker assesses your needs and financial position, compares suitable options from the lenders they can access and helps manage your application. Your broker should also explain why a recommended loan may be appropriate for you.
AAA Mortgage Solutions was established in 1999.
Lenders commonly pay brokers a commission when a loan settles. Fees can apply in some circumstances. AAA should explain any fees, commissions and other relevant costs before you proceed.
The head office is at 112 Reservoir Road, Modbury SA 5092. Individual brokers may assist clients in other locations.
AAA Mortgage Solutions operates under Australian Credit Licence 385791. Broker profile pages should also show each broker's current authorisation and professional details where applicable.
No broker compares every product from every lender. AAA assesses relevant options from the bank and non-bank lenders on its approved panel and should disclose the scope of the comparison.
Our Brokers
4 questions
Look for appropriate authorisation, relevant experience, clear communication, access to lenders suited to your needs and a willingness to explain recommendations, costs and alternatives.
Yes. Use the broker finder to locate a broker serving your suburb or region. Phone and online appointments may also be available.
Yes. Each profile should include the broker's current direct contact details and enquiry option.
Have a summary of your goals, income, regular expenses, debts, savings or equity and any property or asset details available. The broker will confirm the exact documents needed next.
Our Process
6 questions
Timing varies by lender, application complexity, valuation and document quality. Tell the broker about contract or auction deadlines at the start.
It means the lender has approved the application subject to stated conditions. The loan is not ready to settle until all conditions and final documents are completed.
The lender may need to verify income, spending, funds, liabilities, property details or an explanation of recent transactions. Fast, complete responses help reduce delays.
A conveyancer or solicitor should advise on the contract and legal ownership matters. A mortgage broker handles credit assistance and loan coordination, not legal advice.
Confirm the loan and offset accounts are operating correctly, repayments are scheduled and the old loan is closed if refinancing. Keep documents and review the loan periodically.
Speak with a broker before you commit to a property or new finance. Bring a summary of your income, expenses, debts, savings or equity and what you want to achieve.
Reviews
4 questions
Yes every review is from a real customer. Once a loan has been settled we send out a feedback questionnaire.
No. Approval, pricing and timing depend on each applicant, lender and transaction. Reviews describe individual service experiences.
Yes. Provide direct links to the approved review channels and a contact option if the client prefers to give feedback privately.
Link clearly to AAA's Internal Dispute Resolution process and contact information. Also provide current external-dispute-resolution information as legally required.