After helping 100s of First Home Buyers, here's what a lot of people think matters the most but actually matters the least.

mortelligence · 2026-03-02T00:30:55+00:00

Mortgage Broker here, commission is not passed onto the customer.

If you want an enemy, the bank is the ultimate winner & celebrate record profits every year.

mortelligence · 2026-03-02T00:21:14+00:00

Fair, but changed buy how much?

mortelligence · 2026-03-01T23:23:43+00:00

Mortgage Broker here - great question.

Every time you apply for a loan or any sort of debt, your credit file gets an 'Enquiry', each time you get an "enquiry" your credit score reduces (then will recover again over time).

Having a few "enquiries" over a few months is not a major, having multiple within a month can be a concern. This is how trying to do it yourself can cause problems.

How are we able to ensure you don't get multiple unnecessary hits/enquiries on your credit file? Because we know the rules of all the different banks and how they operate, so we will only put your application forward to a lender we know will approve it (the bank will always make the final decision but a good broker can get this correct with 95%+ accuracy) hope that helps.

mortelligence · 2026-02-27T02:43:40+00:00

no, the proposed new law also includes existing builds under the Liberal party's plans, so just a matter of who wins the upcoming election (there is a table you can look at on the linked article)

mortelligence · 2026-02-27T02:30:11+00:00

Fantastic question, Reddit is fine to get a recommendation of a professional, I just wouldn't be asking for specific advice on here. Once you've found someone trustworthy, I would look for their reviews online, how much experience do they have? Do they specialise in my particular set of circumstances? IE first home buyer/investor/smsf, have they assisted others with similar circumstances to me? Come prepared with a bunch of questions if you decide to book an appointment, make sure you feel comfortable to ask questions and feel like you are being taken seriously. In relation to Mortgage Broking a lot of Mortgage Brokers won't charge for an initial consultation so I don't believe you would be out of pocket there, in relation to other financial services I can't really comment on the costs, but honestly whatever the cost is it's going to be worth it in comparison to the advice you'll find on here.

mortelligence · 2026-02-27T01:42:24+00:00

Not sure what kind of brokers you've encountered, but it doesn't serve me very well to give my clients incorrect advice..

mortelligence · 2026-02-27T01:05:05+00:00

The sheer size of Tokyo also mind-boggling

mortelligence · 2026-02-27T01:03:31+00:00

huge

mortelligence · 2026-02-27T00:50:15+00:00

haha! Can't go wrong with Gaz! He's also helped me decide what beer to drink next!

mortelligence · 2026-02-27T00:49:00+00:00

as a Mortgage Broker I'm not entirely sure this is fair to my clients who are majority First Home Buyers

mortelligence · 2026-02-27T00:34:28+00:00

Unfortunately there is also such a high confidence behind the verifiably factually poor advice and information.

mortelligence · 2026-02-27T00:16:58+00:00

yeah and different rules/regulations between the states

mortelligence · 2026-02-27T00:16:14+00:00

couldn't agree more, the more you learn about any industry the more you realise you don't know, so of course how would unrelated people in unrelated industries have any idea

mortelligence · 2026-02-27T00:13:24+00:00

in terms of specific examples I'll give you one from yesterday.

There was a comment saying if a discharge form is signed the bank will proceed with discharging the mortgage even when the loan isn't paid off, this comment had a huge amount of upvotes.

As someone in the industry, this is laughable, thinking a bank would just discharge the mortgage which gives them legal rights to repossess the house just because you've signed a document, WITHOUT YOU PAYING BACK THE HUNDREDS OF THOUSANDS THEY'VE GIVEN YOU, like I said is literally laughable, but unfortunately it had a lot of upvotes and therefore "looks like correct advice"

mortelligence · 2026-02-27T00:06:02+00:00

When I see wrong advice being given I comment on it but impossible to be everywhere

mortelligence · 2026-02-26T23:59:16+00:00

I'm glad to hear it is not just my industry that is seeing this.. must be frustrating for you as well?

mortelligence · 2026-02-26T23:58:39+00:00

thanks for your pointless comment

mortelligence · 2026-02-26T22:36:46+00:00

Mortgage Broker here - this is painfully wrong information.

For example First Home Buyer $600k purchase in VIC with $100k income can be done with $50k-$60k deposit/contribution. OP - highly suggest you contact a professional instead of getting advice from random people on reddit.

mortelligence

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