Question 1

What does a mortgage broker do?

Accepted Answer

A mortgage broker acts as an intermediary between you and lenders. We assess your financial situation, compare hundreds of loan options across 40+ lenders, and negotiate on your behalf to secure the most suitable home loan, saving you time and often getting you better rates than going directly to a bank.

Question 2

How much does it cost to use WYN Finance?

Accepted Answer

Our service is completely free to you. We are paid a commission by the lender once your loan settles. We are legally required to act in your best interests (Best Interests Duty), and we will always disclose any commissions received.

Question 3

How many lenders do you work with?

Accepted Answer

We work with 40+ lenders including the major banks (CBA, NAB, Westpac, ANZ), as well as specialist lenders and non-bank lenders. This breadth means we can find solutions for a wide range of situations, including complex income structures and credit histories.

Question 4

How long does the home loan process take?

Accepted Answer

Pre-approval can often be arranged within 24–48 hours. Full formal approval typically takes 3–5 business days once all documentation is submitted. Settlement timelines depend on the lender and your contract terms, but we guide you through every step.

Question 5

Can I refinance with WYN Finance?

Accepted Answer

Absolutely. Refinancing is one of our most popular services. Whether you're looking to reduce your interest rate, access equity, consolidate debt, or switch loan features, we will analyse your current loan and compare it against the market to see if there is a better option for you.

Question 6

What is the minimum deposit for a home loan?

Accepted Answer

Most lenders require a minimum deposit of 5–10% of the property value. With a deposit below 20%, Lenders Mortgage Insurance (LMI) typically applies. We can also explore options such as the First Home Guarantee scheme, which allows eligible buyers to purchase with as little as 5% deposit with no LMI.

Question 7

Do you help first home buyers?

Accepted Answer

Yes, we specialise in guiding first home buyers from start to finish. We explain the entire process, help you understand government grants and incentive schemes (including the First Home Owner Grant and stamp duty concessions), and make sure you feel confident at every step.

Question 8

What documents do I need to apply?

Accepted Answer

Typically you will need: proof of identity (passport or driver's licence), recent payslips or tax returns (last 2 years for self-employed), 3–6 months of bank statements, details of existing debts and assets, and a copy of the Contract of Sale if you have found a property. We will give you a personalised checklist when we speak.

Question 9

Can I get pre-approval before finding a property?

Accepted Answer

Yes, and we strongly recommend it. Pre-approval (also called conditional approval) gives you a clear budget, makes you a more attractive buyer to vendors, and speeds up the formal approval process once you find the right property. Pre-approval is typically valid for 90 days.

Question 10

What is the difference between fixed and variable rates?

Accepted Answer

A fixed rate locks in your interest rate for a set period (usually 1–5 years), giving you certainty over repayments. A variable rate moves with the market: it can go down (saving you money) or up (increasing repayments). Many borrowers choose a split loan: part fixed for certainty, part variable for flexibility. We will help you weigh the pros and cons based on your situation.

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