Frequently Asked Questions

Discover the facts about mortgages & home loans

Frequently Asked Questions

Find the answers to your questions below.

At Wealthy Wagtail Financial, we understand that navigating the world of home loans and mortgages can raise many questions. That’s why we’ve compiled a list of Frequently Asked Questions to provide you with clear, straightforward answers. Whether you’re wondering about loan eligibility, the application process, or how interest rates impact your repayments, we’ve got you covered.

Our team is committed to ensuring you feel confident and informed every step of the way. We also address common concerns like refinancing options, first-home buyer assistance, and loan term flexibility. If you don’t find the answer you’re looking for, feel free to reach out to our friendly team, who will be happy to assist you with personalised advice and solutions tailored to your needs.

We offer a range of home loan options including fixed-rate, variable-rate, interest-only loans, and loans for first-time homebuyers.

Eligibility depends on factors like your income, credit score, employment status, and deposit size. Our team will guide you through the process.

A first-time homebuyer loan often comes with lower deposits and competitive rates. We’ll help you choose the right option for your financial situation.

Approval typically takes 2-4 weeks, depending on the complexity of your application. Our team works efficiently to ensure a smooth process.

A fixed-rate loan has a set interest rate for a period, while a variable-rate loan can change depending on market conditions. We’ll help you assess which option suits you.

Yes, refinancing allows you to potentially lower your interest rate, consolidate debt, or access equity. We can help you explore the best refinancing options.

LMI protects the lender if you default on the loan. It may apply if your deposit is less than 20% of the home’s value.

Yes, most loans require a deposit, typically 5-20% of the property value. The larger your deposit, the better the loan options available.

Common fees include application fees, valuation fees, and legal fees. We’ll provide a clear breakdown of all costs before you proceed.

It’s possible to secure a loan with a lower credit score, but the terms may vary. We’ll work with you to find the best solution for your situation.

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