If you are coming from outside Australia, it is common not to be familiar with how mortgage brokers work. In many countries, this role either does not exist or is seen as an extra cost in the process. In Australia, it works differently. A key concept explains why: the Best Interest Duty. What does Best Interest Duty mean? Best Interest Duty is a legal obligation that applies to mortgage brokers in Australia. It requires brokers to act in the best interest of their client at all times, ahead...

Having your offer accepted is an exciting step, but it is only the beginning of the home buying process. From this point, there are structured stages that must be completed within specific timeframes set out in your contract. Understanding these steps will help you avoid unnecessary stress and ensure everything runs smoothly through to settlement. Why timeframes in the contract matter When your offer is accepted, the contract will include key deadlines such as: Finance approval Building and...

An offset account is one of the most effective tools available on a home loan, but it is often misunderstood. This article explains how an offset account works, how it affects repayments, and what actually happens when the offset balance equals the loan balance. What an offset account is An offset account is a transaction account linked to your home loan. The balance in this account reduces the amount of the loan on which interest is calculated. Example Loan balance: $500,000 Offset...