Plain-English Answers

A mortgage broker is a licensed professional who acts as an intermediary between borrowers and lenders. Instead of going directly to a bank, a broker assesses your situation and searches across a panel of lenders to find loan options that suit your needs. Brokers are required to act in your best interests under Australian law.

Your bank can only offer their own products. Ignite accesses 40+ lenders and 1,000+ loan products, which means we can compare the market and find the right fit for your situation - not just what one institution offers. For home loans our service is free to borrowers - we're paid by the lender when the loan settles. For asset, personal, and business finance a brokerage fee may apply, always disclosed upfront.

For home loans, our service is free to you - we're paid a commission by the lender once your loan settles. For asset finance, personal loans, and business loans, a brokerage fee or commission may apply; it is disclosed before you proceed and may be included in your repayments. We're required to disclose all commissions, and our obligation is always to find the loan that's right for you - not the one that pays us the most.

It depends on the type of loan and lender. Generally, conditional approval can be obtained within a few days of submitting a complete application. Full approval and settlement timing varies. We'll give you a realistic timeline based on your specific situation.

No. We work with clients across Australia and can handle everything remotely - video calls, digital documents, and e-signatures. If you're local to Adelaide, we're happy to meet in person.

The First Home Owner Grant is a government initiative to help eligible first home buyers purchase or build their first home. Eligibility, amounts, and conditions vary by state. We can help you determine if you qualify and assist with the application as part of your loan process.

Typically, a minimum of 5% of the purchase price is required, though 20% avoids Lender's Mortgage Insurance (LMI). Some government schemes allow eligible buyers to purchase with as little as 5% without paying LMI. The right deposit depends on your situation - we'll walk you through your options.

LMI is insurance that protects the lender (not you) if you default on your loan when your deposit is less than 20%. It's a one-off cost that can be added to your loan balance. LMI can enable you to purchase sooner, but we'll help you weigh up whether it's the right move for your circumstances.

Yes. Lenders have different policies for self-employed borrowers. Some require 2 years of tax returns; others accept BAS statements, accountant declarations, or business bank statements under alternative income verification policies. We specialise in finding the right lender for your income structure.

Refinancing means replacing your existing home loan with a new one - either with the same lender or a different one. People refinance to get a lower interest rate, access equity, consolidate debt, or change their loan features. We recommend reviewing your loan every 2-3 years to ensure it still suits your needs.

Typically: proof of identity (passport or driver's licence), proof of income (recent payslips, tax returns, or bank statements), bank statements (3-6 months), details of existing debts, and information about the property you're purchasing. We'll give you a specific checklist based on your situation.

Asset finance covers lending for vehicles, equipment, and other physical assets. It includes car loans for personal use, equipment finance for businesses, and commercial vehicle finance. We access multiple lenders to find competitive rates for both personal and commercial asset purchases.

Potentially yes, depending on your situation. Some lenders specialise in loans for borrowers with impaired credit histories. The interest rate may be higher to reflect the risk, but there are options available. We'll assess your situation honestly and tell you what's realistic.

A chattel mortgage is where you take ownership of the asset immediately and the lender holds a mortgage over it as security. A finance lease means the finance company owns the asset during the lease term and you make regular payments. The best structure depends on your business use, GST situation, and accounting preferences - we can guide you to the right option.

For standard personal car loans with straightforward income, approval can sometimes be obtained within 24-48 hours. Business and equipment finance may take longer depending on the complexity. We'll give you a realistic timeframe upfront.

We assist with a range of business finance including business loans (term loans and lines of credit), commercial property finance, equipment and machinery finance, vehicle finance for fleets, invoice financing, and trade finance. We work with specialist commercial lenders as well as the major banks.

Start-ups can be more challenging because lenders generally look for trading history. However, there are options available depending on the industry, the owner's personal financial position, available security, and the strength of the business plan. We'll assess your situation and be upfront about what's achievable.

It depends on the lender, loan type, and business structure. Some business loans are secured against commercial property or business assets. Others may require a personal guarantee. We'll explain the security requirements for any loan we recommend before you commit.

The easiest way is to call us on 08 8379 3636 or email [email protected]. You can also book a free consultation online using the button on our website. There's no obligation - we'll discuss your situation, what you're trying to achieve, and whether we can help.

Conditional approval can often be obtained within a few business days once we have a complete application. Full approval and settlement timelines depend on the lender and property type. We'll give you a realistic timeline specific to your situation from our first conversation.

We stay in touch. We recommend reviewing your loan every 2-3 years, and we'll proactively reach out if we see an opportunity to improve your position. Our goal is a long-term relationship, not a one-off transaction.