Frequently Asked Questions

Your borrowing power depends on your income, expenses, debts, credit history, deposit size, and lender criteria including Loan-to-Value Ratio (LVR) rules. Banks assess whether you can manage repayments, usually tested at a higher interest rate. Use our Borrowing Power calculator for an estimate.

A Low Equity Margin (LEM) is an additional interest rate applied when your deposit is less than 20% of the property value (above 80% LVR). It compensates the lender for higher risk and may range between 0.25% to 1.5% depending on your LVR and bank policy.

Besides the deposit and purchase price, you should budget for legal fees, property valuation, building inspection, LIM report, moving costs, and possible lender fees.

Yes, refinancing allows you to switch lenders or loan types to secure a better interest rate, reduce repayments, or access equity. Always compare break fees and loan terms before switching.

Pre-approval may take a few days, while full approval typically takes 5–10 working days depending on documentation and lender processing times.