Every question worth asking about your lending needs.

A mortgage broker acts as an intermediary between you and lenders. Instead of approaching a single bank and seeing only their products, a broker has access to a panel of lenders and can compare options across the market to find what suits your situation. At McCoy Finance, we manage the process from understanding your goals through to submission and settlement, and stay in touch after the loan is in place.

In most cases, we receive a commission from the lender once your loan settles. This means our service is generally at no direct cost to you. We are required by law under the National Consumer Credit Protection Act to act in your best interests, and we will always provide you with a Credit Proposal Disclosure document that sets out exactly how we are remunerated and from which lender, before you proceed.

Going directly to your bank means you will only see that institution's products and rates. A broker provides access to a wider panel of lenders and the expertise to assess which option is likely to suit your circumstances. The right choice depends on your situation - and if we do not think we can improve on what your bank is offering, we will tell you.

McCoy Finance is a dedicated broking team operating within the MortgageWorks group, one of Australia's most respected broking firms. You work directly with Xavier and the McCoy Finance team, while benefiting from the infrastructure, lender relationships, and compliance standards of a leading national firm. MortgageWorks holds Australian Credit Licence 389328 and McCoy Finance operates as Credit Representative 557727 under that licence.

We do not run a credit check until we have identified a suitable path forward and you have provided your explicit consent to proceed. Protecting your credit profile is important - multiple credit enquiries in a short period can affect your score, which is why we assess your situation carefully before any application is submitted.

Borrowing capacity is assessed by lenders based on your income, living expenses, existing financial commitments, and the lender's own serviceability criteria. Most lenders also apply an interest rate buffer above the current rate when assessing capacity. The best way to get an accurate figure for your situation is to speak with us directly - we can give you a realistic picture and walk through the factors that affect it.

Most lenders require a minimum deposit of 5% of the purchase price, though a deposit of 20% or more avoids Lenders Mortgage Insurance. Government schemes including the First Home Guarantee allow eligible first home buyers to purchase with as little as 5% deposit without paying LMI, subject to eligibility criteria and property price caps that vary by state. We can assess which schemes may apply to your situation.

Lenders Mortgage Insurance, commonly known as LMI, is a one-off insurance premium charged by lenders when a borrower's deposit is below 20% of the purchase price. It protects the lender in the event of default - not the borrower. LMI can be paid upfront or capitalised into the loan. Depending on your circumstances, there may be options to avoid or reduce it, including government guarantee schemes or specific lender policies for certain professions.

A fixed interest rate locks your rate for a set term, typically between one and five years, giving certainty over your repayments during that period. At the end of the fixed term, the loan generally reverts to a variable rate. A variable rate moves in line with lender decisions and broader market conditions and can go up or down over time. Some borrowers choose to split their loan between both. The right structure depends on your circumstances, priorities, and the current rate environment - something we work through with every client.

A pre-approval is a conditional assessment from a lender indicating they would be prepared to lend you up to a certain amount, subject to the property being satisfactory and final verification of your details. It is not a guarantee of finance. However, having a pre-approval in place before you make an offer gives you confidence in your budget and signals to sellers and agents that you are a serious buyer. We recommend obtaining one before you begin actively inspecting properties.

There is no single answer - it depends on your current rate, remaining loan term, costs of switching, and what is available in the current market. As a starting point, if your home loan is more than two years old, it is worth a review. A brief conversation with us will tell you whether there is a genuine benefit to switching. If there is not, we will tell you that too.

Refinancing can involve discharge fees charged by your existing lender, application or establishment fees with the new lender, and occasionally valuation fees. These vary depending on your current loan and the lender you move to. We factor all costs into the analysis so you can see clearly whether the savings from a lower rate outweigh the costs of switching before you make any decision.

The refinancing process typically takes between three and six weeks from application to settlement, depending on the lender and how promptly supporting documents are provided. We manage the process on your behalf and keep you informed at each stage.

If you have built equity in your property, refinancing can provide an opportunity to access some of that equity for purposes such as renovations, investment, or other financial goals. The amount accessible and how it is structured will depend on your current loan balance, property value, and lending criteria at the time. We work through this with clients on a case by case basis.

Loan structure is one of the most important considerations for property investors. The way your lending is structured can affect your borrowing capacity for future purchases, your tax position, and your ability to access equity over time. We recommend working through structure before selecting a lender, not after. We can help you think through the right approach for your circumstances in conjunction with your accountant or financial adviser.

An interest only loan means your repayments cover only the interest charged, not the loan principal. This typically results in lower repayments and can assist cash flow, though the loan balance does not reduce during the interest only period. Principal and interest repayments reduce the loan balance over time. The right approach for an investor depends on their strategy, cash flow position, and tax circumstances. We recommend discussing this with your accountant as well as your broker.

In many cases, yes. Equity built in an existing property can potentially be used as a deposit for an investment purchase without requiring additional cash savings. The amount accessible and how it can be used will depend on your current loan balance, property value, lender assessment criteria, and your overall financial position. We model this clearly for clients so there are no surprises.

Yes. Many lenders apply different interest rates, assessment criteria, and lending policies to investment loans compared to owner-occupied lending. Some lenders are more suited to investors than others depending on your specific situation - which is one of the reasons access to a broad lender panel matters.

Yes. Being self-employed does not disqualify you from borrowing, though the documentation and assessment process differs from standard PAYG employment. Lenders want to understand your actual income, which for self-employed borrowers can look different on paper than it does in practice. We work with lenders who have experience assessing self-employed applications across a range of business structures.

Standard documentation typically includes two years of personal tax returns and notices of assessment, two years of business financial statements and tax returns, and recent business activity statements. Requirements can vary by lender and situation. In some cases, alternative documentation options may be available. We will confirm exactly what is needed based on your circumstances before any application is prepared.

A low documentation or alt doc loan is designed for borrowers who are unable to provide standard income verification through full tax returns and financials. Income may instead be evidenced through bank statements, a signed accountant's declaration, or business activity statements. These products are offered by a number of lenders and typically have specific eligibility criteria and conditions. We will assess whether this is an appropriate option for your situation.

Complex income situations are something we work through regularly. Whether you are a sole trader, contractor, company director, or operating through a trust or partnership structure, the key is finding the right lender for your specific setup and presenting your income clearly. If you have been told no elsewhere, that does not mean no across the market. We are happy to review your situation and give you an honest assessment of what is possible.

A construction loan is drawn down progressively as your build reaches agreed stages rather than as a lump sum. Progress payments are typically made at five stages - slab down, frame up, lock-up, fit-out, and practical completion. During the construction period, you generally pay interest only on the amount drawn at each stage. Once the build is complete, the loan typically converts to a standard principal and interest loan.

A house and land package bundles the land purchase and a build contract together, often through a developer. The financing typically involves a standard loan for the land component and a construction loan for the build. A standard construction loan can also be used for owner-managed builds, knock-down rebuilds, or major renovations on existing land. The appropriate structure will depend on your specific project and circumstances.

Construction cost overruns are not uncommon. It is important to understand upfront what your loan does and does not cover, and to ensure you have adequate contingency. We work through these scenarios with every construction client before the loan is structured, and we select lenders who manage the drawdown process efficiently to minimise delays on site.

We talk through your situation, your goals, and your timeframe. No forms, no credit checks, no obligation. At the end of the conversation you will have a clear picture of where things stand and what the logical next steps are.

Timeframes vary by lender and depend on the complexity of your application and how promptly supporting documents are provided. From submission to formal approval, one to four weeks is typical. Some lenders move faster than others - we factor turnaround times into our lender selection, particularly when you are working to a specific timeline.

No. We work with clients across Australia. All meetings can be conducted by phone or video, and in 2026 Xavier is also on the road making his way around Australia and available for face to face meetings along the route.

The relationship does not end at settlement. We review your loan periodically to make sure the rate and structure remain appropriate for your situation and reach out proactively if we identify an opportunity to improve your position. You are always welcome to contact us in the meantime if your circumstances change.

In most cases, nothing directly. We are remunerated by commission from the lender once your loan settles. Before you proceed, we are required to provide you with a Credit Proposal Disclosure document that details exactly how we are paid, by whom, and in what amount. We will walk you through this clearly.

In addition to your deposit, the main costs to budget for include stamp duty, legal and conveyancing fees, building and pest inspection fees, and potentially Lenders Mortgage Insurance if your deposit is below 20%. Stamp duty rates and first home buyer exemptions or concessions vary by state and territory. Government grants and schemes may also apply depending on your circumstances. We work through the full cost picture with every client before you commit to anything.

There can be. Common costs include a discharge fee from your existing lender, an application or establishment fee with the new lender, and in some cases a valuation fee. These costs vary depending on your current loan and the lender you are moving to. We factor all of them into our analysis so you can make an informed decision before proceeding.