Frequently asked questions

A mortgage broker gives you access to multiple lenders and products, not just one. At Hayes Financial we compare options, explain the differences, and negotiate on your behalf so you get the right loan, not just the easiest one.

In most cases, no. Our service is paid for by the lender through commission. If there are any fees payable, we’ll always tell you upfront before you proceed.

There are several including the First Home Guarantee, First Home Super Saver Scheme, and state-based stamp duty concessions. These can reduce deposit requirements and upfront costs significantly.

From 1 October 2025, income caps have been removed and property price caps increased, including up to $1m in the ACT. This makes the scheme more accessible to a wider range of buyers.

With the First Home Guarantee or a guarantor, you may only need 5% deposit, and in some cases none. Without these, most lenders require at least 10–20% of the purchase price.

Borrowing power is how much the bank will lend based on your income and expenses. Purchasing power combines borrowing power with your deposit and any scheme eligibility to show your maximum property price.

Yes, through the First Home Guarantee, guarantor loans, or certain professions (like doctors, registered nurses, and other AHPRA-registered professionals) where lenders may waive LMI.

This is where a family member offers equity in their property as security for your loan. It can mean no deposit is needed and you avoid LMI, but it’s a big commitment for the guarantor and should be considered carefully. Check out Guarantor Home Loans for more information.

No, while we specialise in helping first home buyers, we also assist with refinances, investment loans, debt consolidation, and complex lending scenarios.

Yes, some lenders like Westpac, CBA, Newcastle Permanent, and HSBC are offering fixed rates under or just above 5%, depending on deposit size and loan type.

It depends on your goals. Fixed offers certainty, variable moves with the market, and a split can give you the best of both. Get in touch with us and we’ll talk through your situation and help you decide.

Savings depend on your loan size and current rate. For example, refinancing a $600,000 loan from 6.2% to 4.89% fixed could save around $360 a month. Get in touch with us to find out how much you could save every month.

Common mistakes include skipping pre-approval, underestimating costs, stretching the budget too far, overlooking schemes, and letting emotions lead decisions. We guide you through these pitfalls.

Typically, you’ll need ID, payslips, bank statements, details of savings, liabilities, and evidence of deposit. We provide a full checklist to make it easy.

HELP/HECS debt reduces your borrowing power because lenders factor in the repayments. Some lenders are reviewing how they assess this, and we’ll match you with the most favourable policy.

Pre-approval can be achieved within a few days if documents are ready. Full approval depends on the lender and property but usually takes 1–2 weeks.

Debt recycling is when you use extra repayments on your home loan to invest while redrawing funds back out. It’s a wealth-building strategy that requires careful planning.

Yes. We work with lenders who specialise in self-employed applicants. You’ll usually need 2 years of tax returns, but there are low doc options too.

On settlement day, your lender transfers funds to the seller, the property title is transferred to your name, and you get the keys. We guide you right up to and beyond settlement.

While we’re based in Manuka, Canberra, we work with clients all across Australia. Technology makes the process seamless no matter where you are.