Can I borrow to renovate?
Basic home improvements are different from adding another room. Both are possible but require a different strategy
When do I switch to principal & interest?
Most loans revert from interest‑only during construction to your standard repayments on completion.
Can I act as an owner‑builder?
Specialist policy applies and LVRs are often lower. We’ll outline viable lenders and alternatives.
Do I need a bigger deposit for construction?
Often similar to standard lending, but lenders look closely at contingencies, builder credentials and valuations.
Fixed‑price vs cost‑plus contracts — which do lenders prefer?
Most lenders prefer fixed‑price contracts to reduce cost‑overrun risk. We’ll match lender policy to your build type.
How do progress‑payment (construction) loans work?
Funds are drawn in stages (slab, frame, lock‑up, etc.). You usually pay interest only on funds drawn during the build.
Fixed or variable — what’s better for a first home?
It depends on cash‑flow needs, flexibility and risk tolerance. We can model splits (part fixed, part variable) and explain pros/cons in plain English.
How much can I borrow on my income?
Your borrowing power depends on income, debts, living costs and policy. We run servicing across multiple lenders, not just one calculator.
What counts as ‘genuine savings’?
Regular contributions over time usually qualify; gifted funds and tax refunds can help overall funds to complete. We’ll show you how lenders assess it.
Should I get pre‑approval before I start house‑hunting?
Yes. It clarifies your budget and strengthens offers. We’ll package your application so it’s “lender‑readyâ€.
What grants or concessions might I be eligible for?
Victoria offers several programs. We’ll confirm eligibility for your situation and keep you across any changes. Useful official links:
1. First Home Owner Grant (VIC) — State Revenue Office
2. First home buyer duty exemption/concession (VIC)
3. Off‑the‑plan duty concession (VIC) — plus a temporary off‑the‑plan concession extension (to 20 Oct 2026)
4. Home Guarantee Scheme — Housing Australia (First Home Guarantee, Regional First Home Buyer Guarantee, Family Home Guarantee) — try the Eligibility Tool
What deposit do I need?
There are pathways with less than 20% deposit (e.g., LMI‑backed loans or guarantor structures). We’ll map your options and trade‑offs.
Are you a licensed mortgage broker?
Daniel D’Mello is a credit representative (No. 448067) of BLSSA Pty Ltd (ACL 391237). We operate under Australian credit laws and Best Interests Duty (BID).
Do you charge clients a fee (test)?
For most scenarios our service is paid for by the lender via a standard broker commission. If a client‑paid fee is ever appropriate (e.g., unusually complex work), we’ll explain it upfront and get your consent before we proceed.
Do you charge clients?
For most scenarios our service is paid for by the lender via a standard broker commission. If a client‑paid fee is ever appropriate (e.g., unusually complex work), we’ll explain it upfront and get your consent before we proceed.
How many lenders do you compare?
We’re accredited with 30+ lenders, giving you a broad, up‑to‑date view of policy and price.
How long does an approval take?
Timeframes vary by lender and by how quickly documents are provided. We’ll advise current turnaround times when we start and keep you posted.
What’s your process?
1) Discovery call → 2) Document collection → 3) Strategy → 4) Lender shortlist → 5) Submission → 6) Conditional approval → 7) Unconditional approval → 8) Mortgage documents → 9) Settlement → 10) Post‑settlement care.
When are you available?
Office hours are 9am–5pm (AEST/AEDT) with after‑hours by request. You can book a time anytime; we aim to reply within 3 business hours.
How do I make a complaint if something goes wrong?
Email daniel@keyfinance.com.au with the subject “Complaintâ€. We’ll acknowledge, review and respond in writing. If you’re not satisfied, we’ll explain how to escalate to AFCA.
Do you offer SMSF loans?
Yes — we arrange limited‑recourse borrowing within superannuation through some of our 30+ lenders (specialist advice is recommended).
Do you offer car, personal or business asset finance?
Yes — alongside home lending we have an arm that specializes in asset‑finance options.
Do you have your own ‘white‑label’ home loans?
No — we remain lender‑agnostic and recommend products that fit your strategy.
What support do I get once the loan is in place?
We check in after settlement, follow up after your first repayment, and conduct annual reviews. You can book a chat with us at any time if your situation changes.
