Purchasing a new home

It's important to have your finance in place, speak with us about arranging your pre-approval?

Today's Lowest Interest Rates For Home Buyers

Purchasing FAQ

How much do I need for a deposit for a home loan?

When purchasing an owner occupied property lenders will require you have a minimum 5% deposit; for investment properties the despoit most lenders will require is 10% of the property price.

What is a lenders mortgage insurance?

Lenders Mortgage Insurance ('LMI') is an insurance policy which protects the bank against any loss in the event of default by the borrower. Although the insurance policy doesn't protect the borrower, banks will usually pass the cost of the insurance policy on to the borrower.

How much is a mortgage insurance?

Lenders Mortgage Insurance ('LMI') will vary depending on your loan amount and the property value. Use our LMI quote calculator to give your idea what it could cost you.

How can I avoid paying mortgage insurance?

You can avoid the LMI premium by having a 20% deposit and not borrowing more than 80% of your properties value. For first home buyers, using a family guarantee will allow you to avoid mortgage insurance.

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Customer Reviews

Lloyd Reardon profile pic

Lloyd Reardon
Peter is an ABSOLUTE legend! He worked tirelessly to help us get our loan. Which was by no stretch of the imagination an easy or straightforward lending situation. But Peter, was helpful and hard working as well as approachable and open minded ect step of the way. He made sure we got the best results and didn’t give up where many other brokers may have done so. We weren’t lending a massive amount but, as he said it’s not the size of the loan that matters it’s the quality of service that does. That sort of service leaves a lasting impression and he will certainly get repeat business from us as well as anyone else we come across looking to lend.

Robbie profile pic

Robbie
Outstanding Mortgage Broker – Above and Beyond! Working with Peter at Get a Better Rate has been nothing short of exceptional. From our very first conversation, it was clear that they genuinely cared about finding the best possible mortgage solution for my situation. What truly stood out was their transparency, responsiveness, and deep knowledge of the market. They took the time to explain every step of the process in detail, patiently answered all of my questions (even the ones I thought were minor), and ensured I felt confident and informed at every stage. They worked tirelessly behind the scenes to secure a fantastic rate and navigate a few unexpected hurdles with total professionalism and grace. Thanks to Peter, what could have been a stressful and overwhelming process felt smooth, efficient, and even exciting. I can honestly say they went above and beyond — this wasn’t just a transaction, it was a partnership. If you’re looking for someone who is not only incredibly skilled but also genuinely invested in your success, I can’t recommend Peter highly enough.

Jameson Fahy profile pic

Jameson Fahy
As a first-home buyer, I had a million questions throughout the process and Peter answered every one and made the purchase as effortless and understandable as possible. From pre-approval to settlement, he was proactive, clear, and secured a competitive rate. Peter guided me through the process, explained what my options were, compared lenders, went above and beyond to help me and I couldn’t recommend Peter and Get A Better Rate more!

Jamie Alford profile pic

Jamie Alford
I am very happy to highly recommend Get a Better Rate. Peter is extremely helpful, knowledgeable, responsive and great at answering questions and explaining the process. We were very happy with the service provided and would use them again

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