Skip to main contentA home loan is one of the largest financial commitments most people make, and the difference between a good loan and the wrong one plays out over decades, not months. The complication is that every lender prices, assesses and structures loans differently, so the loan that suits a friend or neighbour may not suit your situation at all.
At Loanworx, we’re a mortgage broker that compares home loans across a wide panel of banks, second-tier lenders and non-bank funders, then matches your circumstances to the lender most likely to approve at a competitive rate. Whether you’re buying your first home, upgrading, building, investing or refinancing an existing loan, we manage the comparison, the paperwork and the lender liaison from the first conversation through to settlement.
As a specialist finance broker, we work for you rather than for any single lender. That means presenting your application in its strongest form, explaining the trade-offs in plain language, and handling the back-and-forth with the lender so you don’t have to.
Thinking about buying, building or refinancing? Call us on 1300 562 696 or get in touch and we’ll be back to you shortly.
Going direct to one bank means seeing one credit policy and one set of rates. A broker compares the wider market in a single conversation and structures the application around what each lender actually wants to see. Here’s where that makes the difference.
We compare home loans from the major banks, second-tier lenders and non-bank funders in one place. Different lenders favour different borrowers, so the right match often isn’t the bank you already use. We know which lenders suit first home buyers, self-employed applicants, professionals and investors, and we point your application there from the start.
Two borrowers with the same income can qualify for very different loans depending on how the application is structured. We look at your deposit, your income type, your existing commitments and your goals, then shape the loan amount, the rate type and the features around them before anything is lodged.
From pre-approval through to settlement, you deal with us rather than a rotating call centre. We prepare the submission, liaise with the lender, coordinate with your conveyancer or solicitor, and keep you updated at each stage so you always know where things stand.
Our home loan service covers the full range of residential borrowing, from a first purchase through to building, investing and refinancing. Each scenario has its own lender appetite, its own assessment quirks and its own opportunities, which is why we treat them as distinct services rather than one generic loan.
Below you’ll find our home loan services and the borrower groups we work with most often. Select the one that fits your situation, or get in touch and we’ll point you in the right direction.
Choose a service to see how it works, what lenders look for, and how we structure the application, or browse by profession to see how we help borrowers in your line of work.
Home loan approval comes down to a handful of factors that every lender weighs, though each one weighs them slightly differently. Knowing what they assess helps you understand where your application is strong and where a structuring conversation may be worth having before lodgement.
Your deposit sets your loan-to-value ratio (LVR), the size of the loan against the value of the property. A deposit of 20% or more avoids lenders mortgage insurance (LMI) outright, while smaller deposits are still workable, often from 5%, with LMI factored in or with a guarantor.
Different lenders apply different LVR caps and LMI premiums, so the right lender choice can change what your smaller deposit actually costs you.
Lenders assess whether you can comfortably meet repayments at an assessment rate set above the actual rate, after accounting for your living expenses and existing debts. Credit cards, car loans, buy-now-pay-later facilities and HECS or HELP debt all reduce borrowing capacity.
We model serviceability across lenders before you apply, because two lenders can return borrowing limits that differ by tens of thousands of dollars on the same income.
PAYG employees with a steady salary are straightforward. Self-employed borrowers, contractors, and applicants relying on bonuses, commission or overtime need the income presented correctly, because each lender treats variable and business income differently.
This is where lender choice matters most, and where going to the wrong bank can turn an approvable application into a decline.
Lenders review your credit file, repayment history and how you’ve managed existing accounts. A clean file supports the sharpest pricing, while past defaults, missed payments or a thin credit history narrow the lender options.
If your file isn’t perfect, there are still lenders that will work with it. The key is approaching the right one rather than collecting unnecessary credit enquiries.
The property is the lender’s security, so its type, location and condition feed into the decision. Standard houses and apartments in established suburbs are straightforward, while small apartments, rural properties, off-the-plan purchases and unusual builds can attract tighter LVRs or a narrower lender panel. We flag any property that may need a specialist lender before you commit.
A home loan isn’t only about the headline rate. It’s about being matched to a lender that will approve you, structuring the loan so it still suits you in five years, and having someone manage the process so it doesn’t stall. Here’s what working with us looks like.
We compare home loans across a broad panel of banks, second-tier lenders and non-bank funders, so you see a genuine spread of options rather than one lender’s offering. We match the deal to the lender most likely to approve it at a competitive rate, which often isn’t the bank you’d have walked into yourself.
You deal with experienced brokers who shape the application before it’s lodged, not a processing line. We expect to see variable income, self-employment, professional income and investment portfolios, and we know how to present each one to the lender accurately.
For most home loans, Loanworx is paid an upfront and trail commission by the lender after settlement, and that commission typically does not change the rate or fees you pay. Where a fee for service applies to a more complex scenario, we disclose it in writing before any work begins. No surprises.
From the first conversation to the keys in your hand, we manage the moving parts so you don’t have to chase them. We prepare and lodge the submission, liaise with the lender, coordinate with your conveyancer or solicitor, and keep you updated at each stage so you always know where things stand.
A deposit of 20% of the property value lets you avoid lenders mortgage insurance (LMI), but it isn’t the minimum. Many lenders will lend with a deposit from 5%, with LMI added to cover the higher loan-to-value ratio. First home buyer schemes and guarantor arrangements can also reduce or remove the deposit hurdle. The right approach depends on your savings, your income and how the numbers compare once LMI is factored in, which is something we’ll model with you before you apply.
Lenders mortgage insurance (LMI) is a one-off cost that protects the lender, not you, when you borrow more than 80% of the property value. It can run to several thousand dollars and is usually added to the loan. You can avoid it by saving a 20% deposit, using an eligible guarantor, or qualifying for an LMI waiver. Certain professions can access waivers at higher LVRs with select lenders, which we cover on our LMI waivers page.
Your borrowing capacity depends on your income, your living expenses, your existing debts and the lender’s assessment rate, which is set above the actual loan rate as a buffer. Two lenders can return borrowing limits that differ by tens of thousands of dollars on identical income, because each treats expenses, variable income and existing commitments differently. We compare your capacity across lenders so you target the one that lends what you actually need.
Neither is universally better. A fixed rate gives certainty over your repayments for the fixed term but usually limits extra repayments and offset flexibility. A variable rate moves with the market and offers more flexibility, including offset accounts and unlimited extra repayments. Some borrowers split the loan to get a measure of both. We’ll talk through which fits your plans, your appetite for rate movement and how long you expect to hold the loan.
Your bank can only offer you its own products, assessed against its own credit policy. A broker compares the wider market, matches your situation to the lender most likely to approve it, and structures the application to present your income and position in its strongest form. If your bank says no, that’s one answer; a broker can take the same scenario to a lender whose policy actually fits it.
For most home loans, no. Loanworx is paid an upfront and trail commission by the lender after settlement, and that commission typically does not change the rate or fees you pay. For more complex scenarios a fee for service may apply, and we’ll always disclose it in writing before any work begins, so there are no surprises.
Yes. Self-employed borrowers, contractors and business owners are well catered for, provided the income is presented correctly. Full-doc lenders generally want two years of tax returns and financials, while low doc options exist for borrowers whose paperwork doesn’t yet reflect their real income. The key is matching you to a lender comfortable with your structure, which is something we do daily on our self-employed and low doc pages.
It varies by lender and scenario. A straightforward PAYG application with a clean file can move to conditional approval within a few days and settle in four to six weeks, aligned to your contract. Self-employed applications, construction loans and more complex structures can take longer. We give you a realistic timeline upfront and flag anything that could slow it down so you can plan around it.
Often, yes. If you haven’t reviewed your loan in a couple of years, there’s a reasonable chance your rate, your features or your structure can be improved, especially if your property has gained value or you’ve paid down the balance. Refinancing can lower repayments, unlock equity, consolidate debt or add an offset. We weigh any switching costs against the saving before recommending a move, and cover this in detail on our refinance page.
For PAYG applicants, recent payslips, identification, and a few months of bank statements are usually enough to start. For self-employed applicants, the last two years of tax returns and financials are typically needed. You’ll also need details of any existing debts and your living expenses. We’ll give you a precise checklist for the lender we shortlist, so you’re not gathering paperwork you don’t need.
Whether you’re buying your first home, upgrading, building, investing or refinancing, we’ll compare the market and present your application to the lender most likely to approve it on the strongest terms.
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