Get A Better Rate for your Next
Sydney Home

Frequently Asked Questions

• I am looking to Refinance
• How often should I have my home loan reviewed?
  We recommend an annual review at minimum. The market moves quickly, and even a small rate reduction can save thousands over the life of your loan. We proactively monitor your rate and will reach out if a better opportunity arises.
• Is it difficult to switch banks?
  Refinancing is far simpler than most people expect. We handle the majority of the paperwork and lender liaison on your behalf. Most refinances complete within 4–6 weeks.
• How do I know if I'm eligible for a Refinance Cashback offer?
  Eligibility varies by lender but typically requires a minimum loan size (usually $250k+) and an owner-occupied or investment loan. We will match you to any current offers that suit your profile.
• How much can I actually save by switching lenders?
  Use our refinance calculator for an estimate. Many clients save $300–$500 per month by switching to a more competitive rate.
• Can I consolidate other debts into my mortgage?
  Yes, in many cases. We can structure a refinance that rolls high-interest debts into your home loan, reducing your overall monthly outgoings. We will assess your situation and confirm eligibility.
• I am buying my First Home
• How much deposit do I really need in the Sydney market?
  A 20% deposit avoids Lenders Mortgage Insurance (LMI). However, some lenders accept as little as 5% with LMI, and government schemes (e.g. First Home Guarantee) allow eligible buyers to purchase with as little as 5% deposit and no LMI.
• Can I calculate my Stamp Duty and LMI here?
  Yes. Use our Stamp Duty Calculator and LMI Quote Calculator to estimate your upfront costs.
• How is my borrowing power calculated?
  Lenders assess your income, existing debts, living expenses, and loan-to-value ratio. Our brokers can provide a detailed assessment and compare your capacity across multiple lenders.
• What is the benefit of an offset account or interest only loan?
  An offset account reduces the interest you pay daily by linking your savings to your loan balance. Interest Only repayments lower your initial cash outflow, which can suit first buyers managing cash flow. We will recommend what fits your goals.
• Should I choose a Fixed or Variable rate?
  Fixed rates provide repayment certainty; variable rates offer flexibility (offset, redraw, extra repayments). A split loan is often a good middle ground. We will model both options for your situation.
• Does Get a Better Rate help with the legal side of buying?
  We focus on the finance. For legal and conveyancing, we can refer you to trusted local professionals via our conveyancer directory.
• I am an Investor or Upgrader
• Can I use my current home's equity to buy another property?
  Yes. Equity release is a common strategy. We will calculate your usable equity and structure a solution that supports your next purchase without disrupting your existing loan unnecessarily.
• What are the benefits of an Interest Only loan?
  Interest Only repayments free up cash flow for investors and may be tax-effective when interest is deductible against rental income. We will walk you through the full picture, including the revert-to-principal implications.
• I am Self-Employed – is it harder to get a loan?
  It can require additional documentation (e.g. 2 years of tax returns or BAS statements), but there are competitive Low Doc and Alt Doc products on the market. Our CBD-based team specialises in self-employed applications.
• General Questions
• Does it cost me anything to use Get a Better Rate?
  No. Our service is free to you. We are paid a commission by the lender whose product you choose. We will fully disclose our remuneration in our Credit Proposal document before you proceed.
• Can I handle the process entirely online?
  Yes. We can conduct initial consultations by phone or video call and manage the entire application digitally. We also offer face-to-face meetings at our Sydney CBD office at 16/9 Castlereagh Street.