Accelerate your journey towards financial security with a home loan that puts your future first.
THE MiQ DIFFERENCE
What Makes Us Leading Mortgage Brokers?
Finding a broker you can genuinely trust isn’t easy.
But MiQ is different.
We approach your loan holistically, assessing its impact on your current situation and your long-term financial goals.
We’re paid by commission – and our diverse lending panel means there’s no incentive for us to recommend a particular lender.
And we have access to a network of both internal and external specialists, such as buyer’s advocates, financial advisors, and solicitors, who can support your property purchase journey.
Your next step towards financial security starts right here, with us.
“I’m not one to leave reviews but my recent interaction with Kylie has been so pleasant and seamless, I could not, not share the experience. She has been prompt and transparent with me through the whole process, which has made it a lot less stressful, and I could not thank her enough for it.”
Our Home Loan Solutions
What We Do
Buying your first home is a big step, and understanding the mortgage process can be complicated.
Because it’s not just about how much you can borrow.
You need to know how your home loan affects your financial future.
How you can find a property that will appreciate in value.
How to make sure your home is protected, regardless of how life happens.
We know you need more than just a broker.
You need a holistic advisor – someone who can help you find the right loan, connect you with other property professionals, and guide you through the whole process.
Book a free 30-minute consultation to learn more about why we’re different.
When you upgrade your home, the buying process matters.
You need to be able to leverage your equity, coordinate your purchase and sale, and balance factors like family and work.
Just as importantly, your new home loan needs to be structured in a way that supports your long-term financial goals.
That’s why more than 15,000 Australians trust MiQ.
Our brokers know how to find the right loan – and we’ll support you through every step, from pre-approval to post-settlement.
Talk to us to find out more about what holistic broking looks like.
Entering Australia’s property market is hard – and getting harder.
One of the major roadblocks for new buyers: saving a deposit while renting.
But taking out a loan with a guarantor, such as a parent or spouse, can substantially increase your borrowing power.
When a loved one provides security for your mortgage, you can secure better loan terms and potentially avoid LMI.
Just as importantly, a guarantor minimises opportunity cost – the capital gains you’d lose while waiting to accrue a larger deposit.
Book a free consultation with one of our team to find out more about how a guarantor loan can benefit you.
Explore foreign investment pathways.
With fluency in Mandarin, Cantonese and Taiwanese, our foreign investment specialists can help you navigate the Treasury application process for property purchases.
Our specialist credit representatives are accredited with over 25 major banks and lenders.
Your Home Loan Questions, Answered
A traditional mortgage broker works as an intermediary between you and lenders. Because their lending panels comprise multiple lenders, they can shortcut your research process, saving you time and helping you find the best loan.
For many people, those time savings are worth paying for – even though most mortgage brokers are paid via commission from lenders, and, as such, don’t charge for their services.
A holistic broker delivers the same value, but with a greater level of focus on your long-term financial goals. Their process typically involves analysing different lending scenarios and working out which one will most effectively support your financial journey.
Some brokerages, like MiQ Finance, can also connect you with other property professionals, like conveyancers, solicitors, buyer’s advocates, and insurance brokers. Finding and acquiring the right property isn’t always easy, and getting the right advice can impact how your investment performs over time.
Mortgage brokers act as intermediaries between banks (both traditional and digital) and borrowers. They work together, not at cross-purposes.
If you’re thinking about taking out a home loan, though, you may be better off talking to a mortgage broker. Good brokers have access to dozens of different lenders, will educate you about different loan structures and their implications, and aren’t biased towards one lender’s set of products.
There are no inherent disadvantages to using a mortgage broker over going directly to a lender. All brokerages approach lending differently, though, and certain factors can negatively affect borrowers.Here’s what you should watch out for when you’re choosing a broker.
- Broker fees. Brokers that charge fees to you, the borrower, can seem less biased (because they aren’t paid by lenders). In reality, there’s a real risk that you could be charged thousands of dollars for the same loan you would have gotten if you’d gone directly to the lender in question.
- Limited lending panels. A lending panel is made up of the lenders that a broker can refer you to. Small lending panels (under 10 lenders) mean that the broker may not be able to find you the best possible loan on the market.
- Preferred products. Some lenders offer substantially higher commissions than others. If you notice your broker trying to ‘push’ you towards a specific lender without any justification, be very wary.
There is no ‘minimum deposit’ for a mortgage. If you have a deposit equivalent to 20% or more of a property’s valuation and you can service your loan, you’ll probably be able to take out a home loan from the majority of lenders.
If you have a deposit equivalent to 5–20% of a property’s valuation, you may be able to secure a mortgage, although you’ll probably have to pay lenders’ mortgage insurance (LMI).
Deposits of less than 5% normally aren’t enough for most lenders, although your broker may be able to find a digital bank willing to explore options.
A loan-to-value ratio is the amount of money you borrow divided by the purchase price of your property, expressed as a percentage.
For example, if you had a $60,000 deposit on a $600,000 property, you would have an LVR of 90%.
The higher your LVR, the harder it can be to secure a mortgage. If you have an LVR over 80%, your lender may require that you pay lenders’ mortgage insurance (LMI) to offset the added risk. Although traditional banks often have a maximum LVR of 90% or 95%, your mortgage broker may be able to connect you with digital banks that are willing to work with higher LVRs.
A split home loan is a loan that has been divided into two or more parts. Having a split structure means you can nominate one portion as a fixed-rate loan and the other as a variable-rate loan.
Because fixed-rate and variable-rate loans have different features and benefits, a split structure gives you the best of both worlds – a level of repayment certainty, combined with potential benefits from interest rate drops and the ability to make repayments faster. Depending on the lender, you might also get access to redraw facilities and offset accounts.
Of course, the nature of split home loans means that the less desirable features of both loan types are always present. The fixed-rate portion won’t benefit from interest rate drops, and the variable-rate portion could be vulnerable to interest rate rises.
So, while a split loan can be beneficial in certain circumstances, it’s important to talk through the implications with your mortgage broker before you make any decisions.
Build Your Financial Knowledge
Learn more about home loans with our easy-to-read articles and guides.
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