Frequently Asked Questions

We have your interests at heart. Backed by legislation that states we must act in your best interests

We will focus on finding the right loan for you, leveraging our wide network of trusted lenders and making an informed decision based on your needs and lifestyle.

We save you time and money

Finding the right loan for your needs can save you a significant amount of money in the long-run. Only a broker will take the time to research which products will best achieve your objectives. Deciding what types of features you would like attached to your loan can be tricky, and you don’t want to end up paying for unnecessary add-ons.

Whether you’re looking for a loan with redraw and offset facilities, or something more straightforward, your broker can find a suitable loan product for you and help you structure your repayments accordingly.

We do all the leg work

Loan product comparisons can be confusing, and it can be hard to determine how the features and benefits of a loan relate to your unique situation. We will compare hundreds of loans on your behalf—saving you time and energy and finding you exactly what you’re after.

We support you all the way through

We will be with you every step of the way—providing a personalised end-to-end service from initial interview, to application, through to settlement.

GHFS & Greg are members of the MFAA and hold the following qualifications:

  • Bachelor of Business
  • Diploma in Finance & Mortgage Broking Management
  • Cert IV in Finance and Mortgage Broking
  • Australian Credit Licence 389782
  • Various other industry recognised certificates

We are members of the MFAA number 10164

MFAA members must adhere to the industry Code of Practice which requires high professional standards, fair business practices, ethical behaviour and compliance with relevant laws and regulations as set down by the industry regulators– all in the interest of you, the borrower.
MFAA sets the highest standards in the industry for its members:

  • Industry experience
  • Education standards
  • Ongoing education to maintain accreditation
  • Probity checks
  • Professional indemnity insurance
  • Membership of an external dispute resolution service

We generally do not charge a fee for standard home loans or mortgages as we are paid directly by the lenders for our services.

For more complex and structured transactions, or when we deal with a lender who does not pay commissions, we may charge an upfront fee for our services but we will always inform you of this before proceeding with any applications.

Our panel includes over 60 lenders and is constantly being updated to ensure you have access to a comprehensive range of loan types across a broad range of categories.

Our panel includes all the major lenders, as well as most second and third tier lenders, credit unions, and mutuals.

GHFS also has its own ACL which means it can use the panel of accredited lenders, but also other lenders that are off the panel to ensure you get the best deal.

All of Australia as well assist international clients with Australian loans.

We are happy to meet with you either during or outside of business hours. We can schedule a Zoom meeting or if you prefer a phone call

To ensure the quality of the service and product we deliver, we will undertake a comprehensive Client Needs Analysis (CNA). After the initial meeting with you we then provide access to a Client Centre which allows you to enter your information, upload supporting documents and tell us your needs and goals.

The information you need to provide to apply for a loan varies slightly depending on the type of finance you are seeking.  However, the basics are:

  • 100 Points of Identification such as Drivers License, Passport and Medicare
  • Source of income such as your last 2 payslips or if self-employed your last 2 years Income Statement and Notice of Assessments
  • Any liabilities such as other home loan statements, personal loans, car loans etc or credit card statements, Buy Now Pay Later statements such as Afterpay or HECS/HELP statements.
  • Savings & Transaction Account statements, you can supply the last 6 months manually or use our WealthDesk system which offers you a bank level secure process to send all of your bank statements for the last 6 months easily. Find out more about this process here.
  • Contract of Sale if you have already found a property to purchase
  • Rates Notice if refinancing

Your borrowing capacity will depend on your income, expenses, savings and any equity you have in existing property. It will also vary from lender to lender. Our online borrowing capacity calculator can give you a general idea of your borrowing capacity. Click here to view the borrowing power calculator. If you would like a more precise figure, contact us as we can provide this and also obtain a loan pre approval prior to looking at property.

First home owners grants are offered by almost every state and territory government. These are cash grants available to buyers who have never purchased a home before. The eligibility criteria and grant amounts vary a lot depending on where you live. Find out which first home owners grants may be available to you so you can pursue your dream of home ownership sooner.

If you don’t qualify for any grants but you are a first home buyer you may qualify for a stamp duty discount or exemption, which can also save you a lot of money.

The eligibility criteria for first home buyers differs slightly between the states and territories but generally, eligibility criteria includes:

  • You must be a first home buyer as a person, not as a company or trust.
  • At least one applicant must be a permanent resident or Australian citizen.
  • Each applicant must be at least 18 years old.
  • You or your spouse, partner or co-purchaser must not have previously owned an interest in land in Australia which had a residence on it, before 1 July 2000.
  • You or your spouse or partner cannot have lived in a residential property which you owned from 1 July 2000.
  • You or your spouse, partner or co-purchaser may not have claimed the grant previously.
  • You must occupy your first home as your principal place of residence within 12 months of the construction or purchase of your home and the minimum period of occupancy is 12 continuous months.

There are other state-specific conditions as well, which will depend on the state you’re buying in. Below you’ll find information about federal government support for first home buyers and then the grants and stamp duty concessions available in each state and territory. Remember there are a host of eligibility requirements for the grant and duty concessions which can vary from state to state, click here and select your state to find out your state-specific conditions.

Will need to consider additional costs such as:

  • Stamp Duty
  • Lenders Mortgage Insurance
  • Pest & Building Inspections
  • Land Title Registration
  • Building & Contents Insurance
  • Utilities
  • Council Rates

Please click here for our Glossary for further information regarding these costs. As well as refer to our Property Buying Cost calculator here.

This involves paying off an existing loan and setting up a new one with a different lender. You may choose to do this if your existing lender can’t offer you the rate or loan features you require.

If you are refinancing with a different lender, in many cases, you will be charged a discharge fee from your current lender, but the money you save on a lower interest rate could far outweigh this initial cost. Every loan product and lender have different discharge fees, and we will explain all the costs to you for your individual circumstances, allowing you to make an informed decision on the advantages and disadvantages of refinancing before you commence.

Your credit history is checked every time that you apply for a credit facility. If you are using GHFS to apply for a loan, we are happy to provide you with a copy of your credit report. If you’ve ever applied for credit or a loan, there will be a credit report about you.

You have a right to get a copy of your credit report for free every 3 months. It’s worth getting a copy at least once a year.

Your credit report also includes a credit rating. This is the ‘band’ your credit score sits in (for example, low, fair, good, very good, excellent).

To obtain your Credit Report yourself:

Usually, you can access your report online within a day or two. Or you could have to wait up to 10 days to get your report by email or mail.

Contact these credit reporting agencies for your free credit report:

Different agencies can hold different information. So you may have a credit report with more than one agency.

Negative examples include:

  • Bankruptcies. These stay on your credit rating for two years after the bankruptcy ends or five years from the date you became bankrupt.
  • Defaults. Debts worth $150 or more that are at least 60 days overdue may be reported to a credit reporting agency and stay on your file for five years.
  • Late payments. Forgot to pay a bill? It shows up on your credit rating even if you settle the debt before it becomes a default.
  • Writs, summons and court judgements. Any court appearances relating to debt and the resulting decision negatively affect your credit rating.
  • Too many credit enquiries. If you apply for credit multiple times in a short space of time, it suggests you’re desperate for cash.
  • Bad Debt. The bureaus consider certain types of loans to be indications of bad borrowing behaviour, for example quick cash loans. Even having credit cards can bring down your score.

You can view our full privacy policy here which includes details on the personal information we collect when you apply for a loan and what we do with your personal information.

No but we can refer you to someone we can highly recommend who does offer this service.

No, but we refer you to qualified advisers that we can highly recommend to assist you with your financial needs.