FAQs

Mortgage brokers are experienced professionals in the finance industry, specialising in helping clients navigate their borrowing needs and objectives. At Gold Coast Lending Services, we take the time to understand your financial situation and ensure you secure a loan that’s right for you—not just any loan.

Like your solicitor, accountant, or financial planner, we are specialists in our field, committed to providing tailored finance solutions to help you achieve your goals. Working with a mortgage broker offers a personalised level of service that often exceeds what you’d receive directly from a lender.

One of the key benefits of choosing a broker is access to a wide range of lenders and loan products. This means we can compare options across the market to find a solution that fits your unique needs, streamlining the process and ensuring you get the right solution for you.
At Gold Coast Lending Services, we don’t charge you a fee for our services. Some mortgage brokers may charge a fee, but we believe in making the process transparent and accessible. When you secure a loan through us, your loan repayments remain unaffected because brokers are paid a commission by the lender for introducing new business.

If a broker does charge a fee, they are required to disclose it upfront, so there are no surprises. At Gold Coast Lending Services, we prioritise transparency and affordability, ensuring you receive tailored advice and solutions without additional costs.
Absolutely not. At Gold Coast Lending Services, our priority is to find a loan that best meets your needs and objectives. While lenders do pay brokers a commission, there is very little difference in commission rates across lenders. Importantly, our industry is regulated under the National Consumer Credit Protection Act (NCCP), which ensures brokers act ethically, transparently, and in the best interest of their clients.

We also disclose all commissions upfront, so you can see exactly what we earn. Our focus remains on securing a competitive loan tailored to your unique circumstances, not on which lender pays the highest commission.
Absolutely not. At Gold Coast Lending Services, our priority is to find a loan that best meets your needs and objectives. While lenders do pay brokers a commission, there is very little difference in commission rates across lenders. Importantly, our industry is regulated under the National Consumer Credit Protection Act (NCCP), which ensures brokers act ethically, transparently, and in the best interest of their clients.

We also disclose all commissions upfront, so you can see exactly what we earn. Our focus remains on securing a competitive loan tailored to your unique circumstances, not on which lender pays the highest commission.
Absolutely! While Gold Coast Lending Services is based on the Gold Coast, we work with clients across a wide range of locations. Our aim is to offer personalised, face-to-face support where possible, which includes visiting you at your home or place of work.

Even if you're outside our core service area, we can still assist you through phone calls, video chats, and email. Our goal is to provide you with the same high level of service, no matter where you are. We're here to make the process transparent and streamlined, and we'll work around your schedule to find a time and way that suits you best.

Feel free to reach out, and let's discuss how we can assist you with your home loan needs!
To secure a home loan, the typical deposit required is usually at least 20% of the property value, though this can vary. First home buyers may qualify for government schemes requiring as little as 5%. If you already own a property, you might be able to use the equity in your home as your deposit, which could eliminate the need for a cash deposit.

In some cases, lenders may offer loans with a lower deposit if you're willing to pay for lender’s mortgage insurance (LMI). Keep in mind that other costs, such as stamp duty and legal fees, may also be required.

At Gold Coast Lending Services, we can assess your financial situation and help you determine the best options, including using equity as a deposit. Contact us to discuss your loan options in detail.
To qualify for a home loan, lenders typically look at several factors to assess your ability to repay the loan. Here are the key requirements:

Income and Employment Status: Lenders will consider your income level, whether you are employed full-time, part-time, or self-employed. Consistency and stability in your income are important.

Credit History: Your credit score will play a role in determining your eligibility for a loan. A higher score generally indicates less risk for the lender.

Deposit or Equity: Most lenders require a deposit of at least 5% of the property value, but a higher deposit can improve your chances. If you have existing equity in a property, that may also be used as a deposit.

Living Expenses: Lenders assess your current living expenses to ensure you can manage loan repayments while covering your everyday costs.

Liabilities: Any outstanding debts or loans will be considered when determining how much you can afford to borrow.

By speaking with Gold Coast Lending Services, we can assess these factors and help guide you through the process, ensuring we find a solution that best fits your financial situation. Feel free to reach out for a more personalised assessment!
Pre-approval is when a lender assesses your finances and confirms how much they’re willing to lend you before you apply for a loan. It involves reviewing your income, credit history, and debts.

How it works:

You provide your financial details.

Gold Coast Lending Services/lender assesses your eligibility.

If approved, you receive a pre-approval letter, usually valid for 3-6 months.

Why get pre-approved?

Confidence: It shows sellers you're a serious buyer.

Budgeting: Helps you know your borrowing limit.

Streamlined Process: Speeds up your loan application when you're ready to buy.

At Gold Coast Lending Services, we can assist with pre-approval to ensure you’re ready when the time comes to make an offer on a property.
Lenders Mortgage Insurance (LMI) is an insurance policy that protects the lender in case the borrower defaults on their loan. It’s usually required if you borrow more than 80% of the property's value, meaning you have a deposit of less than 20%. This helps lenders mitigate the risk associated with higher loan-to-value ratios.

Although LMI is not for your benefit, it enables you to secure a loan with a smaller deposit. It’s important to note that the cost of LMI can be added to your loan amount or paid upfront, depending on the lender and loan structure.

Whether or not you’ll need LMI depends on the size of your deposit and the lender’s policies. If your deposit is less than 20%, it’s highly likely that you’ll need LMI. However, certain schemes or low-deposit home loan options may help you avoid it or reduce the cost.

At Gold Coast Lending Services, we can help you assess your options and explain the LMI process in detail to ensure you make an informed decision about your home loan.
To apply for a home loan, you'll typically need the following documents:

Proof of Identity

Income Verification

Savings Proof

Employment Details

Credit History

Assets and Liabilities

Please note that each lender may require different documents, so this is just a guide. At Gold Coast Lending Services, we’re here to assist you in gathering the right paperwork and ensuring the process runs smoothly.
Refinancing your home loan can be a smart financial move, but it depends on your situation. Common reasons to refinance include securing a lower interest rate, reducing monthly repayments, consolidating debts, or accessing equity for renovations or investments. However, you should also consider any costs involved, such as exit fees, application fees, or break costs on fixed loans.

At Gold Coast Lending Services, we can help you evaluate your options and decide if refinancing aligns with your financial goals. We’ll assess your current loan, compare it with other available products, and provide clear advice tailored to your circumstances. Reach out today for a personalised consultation!
Using equity from your home to invest in property can be an effective strategy to build wealth, but it’s important to approach it carefully. Equity is the difference between your home’s value and the amount you owe on your mortgage. Many lenders allow you to use this equity as a deposit for an investment property, potentially avoiding the need for additional savings.

While this can be a powerful tool, it’s essential to consider factors like:

Your financial stability and ability to manage repayments on multiple loans

The potential risks of property investment, including market fluctuations

Tax implications and benefits associated with property investment

At Gold Coast Lending Services, we can help you assess whether this strategy aligns with your financial goals. We’ll review your current equity position, borrowing capacity, and investment plans to ensure you make a confident and informed decision.
A construction loan is designed to finance the building or significant renovation of a property. Unlike standard home loans, funds are typically released in stages, known as progress payments, as the construction progresses. Here’s how it works:

Approval Process: You’ll need detailed plans, a fixed-price building contract, and cost estimates from your builder. These documents help the lender assess your loan application.

Progress Payments: Funds are released in stages (e.g., slab, frame, lock-up, fit-out, and completion), ensuring you only pay interest on the amount drawn down during construction.

Loan Conversion: Once construction is complete, the loan usually transitions to a standard home loan with regular repayments.

Inspections: Lenders often require inspections before releasing funds at each stage to confirm the work is progressing as planned

At Gold Coast Lending Services, we’ll guide you through every step of the construction loan process. We’ll work closely with your lender and builder to ensure smooth progress, so you can focus on bringing your dream property to life.
A bridging loan is a short-term solution designed to help you buy a new property before selling your current one. It covers the gap between these transactions, with interest usually charged on the temporary portion of the loan and often added to the balance to reduce immediate repayments. These loans typically last 6–12 months, giving you time to finalise the sale of your existing property.

At Gold Coast Lending Services, we understand that navigating bridging loans can be complex. Our team simplifies the process by providing clear explanations, tailored solutions, and assistance with loan structuring to ensure the transition is smooth and stress-free. Whether you need expert advice or a personalised plan, we’re here to support you every step of the way.
Using a guarantor for your home loan can offer several benefits, particularly for first-time buyers or borrowers who may struggle to meet standard lending criteria. Here are the key advantages:

Reduced Deposit Requirements: With a guarantor, you may not need a substantial deposit to secure a loan, as the guarantor's property can provide the equity or security needed.

Avoiding Lenders Mortgage Insurance (LMI): A guarantor's support can help you borrow up to 100% (or more in some cases) of the property’s value, potentially avoiding the cost of LMI, which is usually required when borrowing over 80% of the property value.

Improved Borrowing Power: A guarantor can strengthen your application, increasing the likelihood of loan approval and potentially allowing you to borrow more.

Quicker Path to Homeownership: By reducing upfront costs, a guarantor can help you enter the property market sooner, rather than waiting to save a larger deposit.

At Gold Coast Lending Services, we can guide you through the process of using a guarantor, helping both you and your guarantor understand the responsibilities involved while finding the best loan options to suit your needs.
Yes, you can use your Self-Managed Super Fund (SMSF) to purchase property, but it must comply with strict regulations. Here’s an overview:

Purpose: The property must meet the sole purpose test, meaning it is purchased solely to provide retirement benefits to fund members.

Types of Property: You can buy residential or commercial property, but it cannot be lived in or rented by fund members or their related parties for personal use.

Borrowing Rules: If borrowing through your SMSF, it must be done under a limited recourse borrowing arrangement (LRBA), where the loan is secured against the property only.

Costs and Compliance: Managing a property within your SMSF involves additional costs, strict compliance, and reporting obligations to meet superannuation laws.

At Gold Coast Lending Services, we can guide you through the complexities of SMSF property loans, ensuring your investment aligns with both your retirement goals and legal requirements. Whether you’re considering residential or commercial property, we’ll work with you to tailor a solution that fits your needs.
A Medical Professional Home Loan is a specialised loan product designed for medical professionals such as doctors, dentists, and specialists. These loans typically offer more favourable terms than standard home loans, considering the unique circumstances and income potential of medical professionals. Some of the benefits include:

Higher Borrowing Capacity: Lenders often offer higher borrowing limits, considering the expected future earnings of medical professionals.

No Lenders Mortgage Insurance (LMI): Many medical professionals can access loans with a low deposit (as low as 10% or less) without needing to pay LMI.

Discounted Interest Rates: Some lenders offer competitive or discounted interest rates to attract medical professionals.

Flexible Loan Options: These loans often come with flexible terms, such as the ability to refinance or access additional funds for investment purposes.

At Gold Coast Lending Services, we can help medical professionals navigate these specialised loan products and provide tailored advice, ensuring you get the most suitable finance solution for your circumstances. We understand the demands of your profession and offer flexible, face-to-face support whenever you need it.