Frequently Asked Questions
Whether you are buying your first home, building an investment portfolio or arranging finance for a business, you will have questions along the way. We are here to answer them throughout the life of your loan, not only at settlement. The answers below cover the questions we hear most often. If yours is not here, get in touch and we will talk it through with you.
What does a broker do?
A broker is a finance professional who works with you one-on-one to understand your goals, your circumstances and what you may be able to borrow. Rather than presenting a single lender’s products, a broker compares suitable options from many lenders and helps you identify those aligned with your requirements. A broker also prepares and lodges your application and stays with you through to settlement and beyond. Any loan remains subject to lender assessment.
Do you charge fees for home or investment loans?
For many residential loans, Oakwood Finance is remunerated by the lender and there may be no separate brokerage fee payable by you. Some transactions or services may attract fees. Any applicable fee will be disclosed to you before you proceed, so you can decide with the full picture in front of you.
Is it more expensive to use a broker?
For many residential loans, Oakwood Finance is remunerated by the lender rather than by you, so there may be no separate brokerage fee payable. With access to 70+ lending partners, we compare suitable options and help you identify those aligned with your requirements, weighing rate, fees and product features together rather than looking at rate alone. Some transactions or services may attract fees, and any applicable fee will be disclosed to you before proceeding.
How much can I borrow?
Our borrowing calculator can give you a general indication of what you may be able to borrow. Lenders commonly take different approaches to assessing income, expenses, liabilities and deposit, so for a clearer picture get in touch and we will work through your circumstances with you. Any borrowing figure remains subject to lender assessment.
Should I go for a fixed or variable rate?
Variable-rate home loans have an interest rate that can move over time, so your repayments can rise or fall. They commonly offer more flexibility, with features such as redraw and the ability to make extra repayments, but they do not give you a set repayment amount.
Fixed-rate home loans fix your rate for an agreed period, so your repayments generally stay the same during that fixed term. They can be less flexible, commonly with limits on extra repayments and the possibility of break costs if you exit the fixed term early, but many borrowers value the certainty when budgeting.
Many lenders also allow you to split a loan between fixed and variable portions. The right structure depends on whether flexibility or certainty matters more to you, and we can talk through the options with you.
Which lenders do you work with?
Through our aggregator, we have access to 70+ lending partners. That breadth means we can compare suitable options from across that panel and identify those aligned with your requirements, rather than being limited to a single lender’s range. Any loan remains subject to lender assessment.