Your questions, answered
Everything you wanted to ask, without feeling silly for asking.
No question is too basic. Here are the things people ask us most, answered in plain English. Can't find what you're after? Just reach out, we genuinely don't mind questions.
Working with a broker, the basics
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For most loans, no. We're paid a commission by the lender when your loan settles, and we'll tell you what that is before you apply. We're not tied to any one lender, and we're legally required to act in your best interests, so if a lender is being put forward we'll explain why.
Construction loans are the exception regarding fees. Due to the additional complexity involved in managing a construction loan through the progress draw process, a broker fee may apply. We will always be upfront about this and provide you with a quote before you commit to anything, so there are no surprises.
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In short, we do the legwork of finding and comparing your options. We assess your situation, compare across dozens of lenders, explain what's on the table and why, prepare and lodge your application, and stay across it through to settlement and beyond.
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Go straight to a bank and you only see what that bank offers. We compare across many lenders, explain how the options differ, and handle the application through to settlement.
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Because we're not just brokers. Our founder is an active property investor who's built his own portfolio. We specialise in first home buyers and investors aged 21 to 40, we explain everything in plain English, and we stay in touch long after settlement. You get people who've genuinely walked the path, not just read about it.
The loan process
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From your first call to formal approval, most applications take between 3 and 6 weeks, depending on the lender and your situation. We'll give you a realistic timeline up front and keep you posted at every stage, so you're never left wondering.
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We're careful about this. We can assess your situation and get a strong read on your options before any formal application that would leave a mark on your credit file. We'll always talk you through it before lodging anything.
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This is where we're different from most brokers. We don't disappear. We stay in touch with proactive check-ins to make sure your loan still suits you as rates and your circumstances change, and we're here whenever you're ready for your next property.
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Yes. Self-employed borrowers go through a slightly different process, but it's very manageable with the right preparation. We work with lenders who understand self-employed income and know how to put your application in its strongest light.
Getting started
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Completely. Some of our most favourite conversations are with people who aren't sure where they stand. The first call is just a conversation. No obligation, no pressure, nothing to commit to. You can ask whatever you want and see where you land.
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Nothing at all. The first call is about understanding your situation and goals. If we move forward, we'll tell you exactly what documents we need, but for the first chat, just come as you are with whatever questions are on your mind.
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A lot of first home buyers can get going with as little as a 5% deposit, especially through government schemes like the Australian Government 5% Deposit Scheme, which can help eligible buyers skip Lenders Mortgage Insurance (LMI). We'll go through your options on the first call.
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Almost certainly. We're 100% online and work with clients right across Australia, Sydney, Melbourne, Brisbane, Perth, Adelaide, Canberra, Hobart, Darwin, and regional areas in between. Wherever you are, we can work together over a video call or the phone. If you are based in Sydney and want to have a face-to-face meeting, we also have an office that is located in Miranda.
First home buyers and investors
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Definitely, it's one of our specialties. We structure investment loans with your long-term portfolio in mind, not just the property in front of you. The way your first investment loan is set up flows straight through to your ability to buy your next one.
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Rentvesting is buying an investment property somewhere affordable while you keep renting where you actually want to live. It's a popular strategy for young professionals who want to get into the market without giving up their lifestyle or location.
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There are a few, including the Australian Government 5% Deposit Scheme (buy with a smaller deposit and skip LMI), the First Home Owner Grant, and various stamp duty concessions that vary by state. Eligibility depends on your circumstances, and we'll walk you through which ones apply to you.
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First, don't panic. A rejection from one lender doesn't mean you can't get a loan. It means you didn't meet that lender's criteria, and lenders don't all assess things the same way. That's one of the real advantages of using a broker. We know which lenders are likely to say yes before we lodge anything, which means we're not throwing applications at the wall and hoping. If something unexpected comes up, we'll talk you through it and find a path forward.
Compliance and trust
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Elate Lending operates as a Credit Representative (Credit Representative No. 579533) of Australian Finance Group Ltd, Australian Credit License 389087. AFG (Australian Finance Group) are one of Australia's largest mortgage aggregators. We're also a member of the MFAA (Mortgage and Finance Association of Australia) and AFCA (Australian Financial Complaints Authority).
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We take any concern seriously and aim to sort things out quickly and fairly. We're a member of AFCA (the Australian Financial Complaints Authority), which provides free, independent dispute resolution if it's ever needed. Full details are in our Credit Guide.
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We take your privacy and the security of your information seriously. We only collect what we need to help with your loan, store it securely, and never share it without your consent. Full details are in our Privacy Policy.
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We're required by law to act in your best interests under the Best Interests Duty, which is part of Australian credit law. In practice that means we document our reasoning for every recommendation we make, comparing it against other options and showing why the loan we're suggesting genuinely suits your situation better than the alternatives. You'll always receive a written credit proposal explaining our recommendation before you commit to anything.
Still have a question?
The easiest way to get a real answer is a quick conversation. Book a 30 minute discovery call and ask us anything, or send a message and we'll get back to you within one business day.
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