Variable rate with offset
Our most common recommendation for owner-occupiers with surplus income or savings. Every dollar in offset reduces the interest you pay, dollar for dollar, without locking up your money.
Owner-occupier lending
A home loan that fits the way you actually earn, spend and save
The cheapest rate on a comparison website is rarely the right loan for you. Real value lies in the structure — offset vs redraw, fixed vs variable, the split between them, repayment frequency, LMI versus a smaller deposit, and whether the lender will lend you more in two years when you want to upgrade.
We sit down, map your income, expenses, deposit position and 5–10 year plan, then shortlist lenders whose policy genuinely suits your file. Many of our clients save tens of thousands across the life of the loan not from a single rate cut but from a structure that lets them park surplus cash productively and repay faster.
Whether you're buying your first home, your fourth, refinancing for a better deal or stepping up the property ladder, we treat the file with the same depth of analysis.
Loan structures
Common structures we recommend
Fixed-rate split
Lock part of the loan at a fixed rate for certainty and leave the rest variable for flexibility. Common splits: 50/50, 70/30 or 80/20 fixed/variable depending on your view on rates.
Interest-only (owner-occupier)
Less common post-APRA, but still available for specific circumstances — short-term cashflow management, parental leave or build-out periods.
Line of credit
Revolving facility against your home equity — useful for renovators, sophisticated investors and self-employed clients wanting flexible access to capital.
Bridging structures
Buy your next home before settling the current one, with peak-debt and end-debt assessed together so the lender doesn't require you to qualify on both loans simultaneously.
Family guarantee & LMI alternatives
Parental guarantee structures and First Home Guarantee scheme pathways that get you into a home with 5% or less deposit without LMI premiums.
What you'll need
Eligibility and deposit pathways
- Deposit: 5–20% depending on lender and loan type. LMI applies under 20% for most lenders.
- Income: PAYG (recent payslips + group certificate) or self-employed (2 years' returns or alt doc).
- Credit: Clear file ideal; we have lenders for impaired credit and prior defaults.
- Genuine savings: Most lenders want to see 5% of the purchase price held in savings for 3+ months.
- Employment stability: 6+ months in current role for PAYG; 12–24+ months ABN for self-employed.
- Borrowing capacity: Income, expenses, dependents and existing debts all enter the serviceability calculation.
The most common reason a home loan application gets rejected isn't the borrower — it's the wrong lender being asked. Every lender has its own credit policy, income shading rules and acceptable employment profiles. A file that gets declined at one bank can be approved within 48 hours at another, with no change to the borrower's circumstances.
Our job is to match the file to the right lender first time, so you're not eroding your credit score with multiple declined applications.
Client stories
Real outcomes for real clients
★★★★★
"The team made what felt like a daunting process completely manageable. We secured a rate the bank wouldn't touch directly and were in our first home eight weeks later."
★★★★★
"After years of being told no by the majors for our self-employed structure, MortgageHQ found a solution. Approval came within a fortnight and on competitive terms."
★★★★★
"We refinanced our commercial property and unlocked equity for a second purchase — they structured the whole deal across two lenders. Saved us hundreds of basis points."
Answers
Residential lending — frequently asked questions
What's the difference between fixed and variable rates?
A variable rate moves with the market — most commonly tracking RBA cash rate movements. A fixed rate locks your interest rate for an agreed period (typically 1–5 years), giving you certainty but removing the benefit if rates fall. We often recommend a split — for example, fixing half and leaving half variable — to balance certainty with flexibility.
Should I have an offset account or a redraw facility?
An offset account is a transaction account linked to your home loan — every dollar in offset reduces the interest calculated on your loan. Redraw lets you pull back extra repayments you've made. Offset is more tax-effective if you may later convert the property to an investment. Redraw can be cheaper. We recommend offset for most owner-occupiers with future investment plans.
How much deposit do I need to buy a home in Melbourne?
The bare minimum is 5% (with mortgage insurance or First Home Guarantee scheme), 10% is common, and 20%+ avoids LMI entirely. On a $700k Melbourne purchase that means roughly $35k, $70k or $140k respectively, plus stamp duty (waived for VIC first home buyers under $600k) and conveyancing costs.
What is Lenders Mortgage Insurance (LMI) and can I avoid it?
LMI is a one-off premium charged by lenders when your deposit is under 20% — it insures the lender (not you) against default. On a $700k loan with 10% deposit, LMI can be $10,000–$20,000. Avoid it via: 20%+ deposit, First Home Guarantee scheme, parental guarantee, or certain professional packages (doctors, lawyers, accountants get LMI waivers in many cases).
Can I borrow more than 80% of the property value?
Yes — most lenders go to 90% LVR routinely and some to 95% with LMI. Above 90% the lender review becomes more rigorous (servicing, deposit source and credit profile all need to be clean). First Home Guarantee scheme participants can borrow up to 95% without LMI.
How long does residential home loan approval take?
From submission to formal approval is typically 5–10 business days for major banks if the file is complete and clean. Conditional approval can come in 1–3 days. Construction, refinance and complex files take longer (2–4 weeks). We'll set a realistic timeline at the start based on your specific situation and the lender we're targeting.
Can I refinance my home loan to release equity?
Yes — equity release is one of the most common reasons to refinance. If your home has grown in value, you can refinance to a higher loan amount and access the difference (subject to lender LVR limits, usually 80%) for renovation, investment property deposit, business capital or debt consolidation. See our refinancing page for the full process.
Get in touch
Let's start the conversation
No obligation. Completely confidential. We'll respond within one business day to set up a no-pressure initial chat about your goals and the lending options available to you.
- Free initial consultation — no fees to talk
- Access to 60+ lender panel including major banks
- 25+ years of broker experience on every file
- We work with your accountant and advisers
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Tell us about your situation — first home, refinance, commercial, SMSF or anything in between. We'll find the right structure across 60+ lenders. No obligation, completely confidential.