Frequently asked questions
FAQS
WHAT IS STAMP DUTY? HOW MUCH DO I HAVE TO PAY?
Stamp Duty is a state government duty payable when a property is purchased or transferred. Stamp Duty is calculated on the purchase price of the property and is paid by the buyer. The Stamp Duty payable on a property purchase depends on a number of factors including which State you purchase in, whether or not you are a first home buyer and whether or not you are going to live in the property.
Click your state below to calculate your payable Stamp Duty:
HOW LONG DOES A PRE-APPROVAL LAST?
A pre-approval is generally valid for 3 months from the date of issue and may depend on the bank.
CAN I SPLIT MY HOME LOAN BETWEEN FIXED AND VARIABLE INTEREST RATES?
Yes, minimum split amounts may apply.
HOW MUCH DEPOSIT DO I NEED?
Generally a deposit of at least 5% of the purchase price is required. If your deposit in less than 20%, you may be required to pay Lenders Mortgage Insurance (LMI). You can pay the Lenders Mortgage Insurance as one lump sum or capitalise it into your home loan.
WHAT IS AN OFFSET ACCOUNT?
An offset account is a transaction account linked to a home loan account. The account’s balance is ‘offset’ daily against your home loan balance, and as a result you’re only charged interest on the difference between the two.
HOW MUCH CAN I BORROW?
The amount you can borrow is dependent on a number of factors. For a estimate of how much you can borrow click here. If you would like to know a more accurate figure please contact us.
WHAT WILL MY REPAYMENTS BE?
To find out an estimate of what your repayments will be click here. If you like to know more please contact us.
WHAT IS THE DIFFERENCE BETWEEN FIXED AND VARIABLE INTEREST RATES?
Fixed interest rates remains unchanged, for a specified period, often a number of years, regardless of changes to interest rates. However there are terms and conditions involved with fixed rate loan products that you need to be away of before choosing a fixed rate loan product. Variable interest rates can change at any time, either up or down.
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