5.0 from 33 Reviews
Buying a home is one of the biggest financial decisions you will ever make. Whether you are purchasing your first property, upgrading to something larger, or looking to invest, having the right home loan in place makes all the difference. At Balcombe Financial, we work with clients in Bayside, Victoria and across Australia to find home loan options that suit their circumstances, their goals, and the stage of life they are in.
Understanding Your Home Loan Options
There is no single home loan that works for everyone. The right structure depends on your income, your deposit, how much you want to borrow, and what you plan to do with the property. Balcombe Financial takes the time to understand your situation before recommending any home loan products. We compare home loan rates from banks and lenders across our panel so you can see what is available and make an informed decision.
For owner occupied home loans, most borrowers choose between a variable rate, a fixed rate, or a split rate structure. A variable interest rate moves with market conditions, which means your repayments can go up or down over time. A fixed interest rate locks in your rate for a set period, giving you certainty over your repayments. A split loan divides your borrowing between fixed and variable portions, so you get some of the benefits of both. Each structure has its own home loan features and home loan benefits depending on your priorities.
Repayment type is another important consideration. Principal and interest repayments reduce your loan balance over time and help you build equity in your property. Interest only repayments cover just the interest component for a set period, which can suit certain borrowers in specific circumstances. Your Balcombe Financial broker will explain how each option affects your loan amount and your long-term position.
Home Loan Features That Can Make a Difference
Beyond the interest rate, home loan packages often include features that can add real value. An offset account, sometimes called a linked offset, sits alongside your loan and reduces the balance on which interest is calculated. If you have savings sitting in an offset account, you pay less interest without actually reducing your loan balance. This can be a powerful tool for borrowers who want flexibility while still working to reduce their overall interest costs.
A portable loan is another feature worth understanding. This allows you to take your existing home loan with you if you sell your current property and purchase a new one, which can save you the cost and effort of refinancing from scratch. Not all lenders offer this, and the conditions vary, so it is worth discussing with your Balcombe Financial broker whether portability is important for your situation.
Lenders Mortgage Insurance, or LMI, is a cost that applies when your loan to value ratio, known as LVR, exceeds 80 per cent. In simple terms, if you are borrowing more than 80 per cent of the property's value, your lender will typically require LMI. This is an insurance policy that protects the lender, not the borrower, but the premium is paid by you. Understanding LMI and how it affects your overall costs is an important part of calculating home loan repayments and planning your purchase.
Government Schemes That May Apply to You
If you are a first home buyer, there are several government schemes that could reduce your upfront costs. The Australian Government 5% Deposit Scheme allows eligible first home buyers to purchase with a deposit of as little as 5 per cent of the property value, with the government providing a guarantee to the lender so that LMI is not required. In Victoria, the property price cap for capital cities and regional centres like Geelong is $950,000, and $650,000 in other areas. Single parents may be eligible to purchase with a deposit of as little as 2 per cent under the same scheme.
The Help to Buy scheme is another option, where the Australian Government contributes up to 40 per cent of the purchase price for a new home and up to 30 per cent for an existing home, in exchange for an equity stake. Income limits apply, and up to 10,000 places are available nationally in the 2026-27 financial year. In Victoria, first home buyers may also be eligible for a $10,000 First Home Owner Grant on new homes valued up to $750,000, along with stamp duty relief on properties up to $750,000.
Balcombe Financial can help you understand which schemes you may be eligible for and how they interact with your home loan application. Eligibility conditions vary and it is important to get clear guidance before making any commitments.
Why Home Loan Rates Comparison Matters
Home loan interest rates vary significantly between lenders, and even a small difference in your rate can have a meaningful impact on your repayments over the life of your loan. Balcombe Financial accesses home loan options from banks and lenders across Australia, which means we can conduct a genuine home loan rates comparison on your behalf. We look beyond the headline rate to assess the full cost of each product, including fees, home loan packages, and the value of features like offset accounts and rate discount opportunities.
For borrowers who already have a home loan, it is worth reviewing your current home loan rates regularly. If your circumstances have changed or rates have moved, refinancing could help you access a lower rate, reduce your repayments, or unlock equity in your property. Balcombe Financial offers a Loan Health Check to help existing borrowers understand whether their current loan is still working for them.
Helping You Achieve Home Ownership
At Balcombe Financial, we understand that buying a home is about more than just the numbers. It is about creating a secure future for yourself and your family, whether that means getting into the market for the first time, upsizing as your family grows, or building a property portfolio over time. We work with busy families and individuals across Bayside and beyond who want clear, honest guidance without the confusion that often comes with comparing home loan products on their own.
We help you understand your variable home loan rates and fixed rate options, assess your borrowing capacity, and identify home loan features that match your lifestyle. Our goal is to help you achieve home ownership with confidence, knowing that the loan structure you choose is right for your situation and your future plans.
Step 1: Initial Conversation
We start with a relaxed, no-obligation chat to understand your situation, your goals, and what you're looking to achieve. No paperwork, no pressure.
Step 2: Fact Find & Assessment
We take a closer look at your finances, including income, expenses, assets and liabilities, so we can understand your borrowing position and tailor our approach accordingly.
Step 3: Loan Strategy & Lender Selection
Drawing on our panel of over 40 lenders, we identify the most suitable options for your circumstances and present you with clear, comparable recommendations.
Step 4: Application Preparation
Once you're happy with the direction, we prepare and package your application thoroughly, making sure everything is in order before anything is submitted to a lender.
Step 5: Lodgement & Approval
We lodge your application and manage the process with the lender from start to finish, keeping you updated along the way so you're never left wondering what's happening.
Step 6: Formal Approval & Signing
Once your loan is formally approved, we walk you through the loan documents so you understand exactly what you're signing and what comes next.
Step 7: Settlement & Beyond
We stay with you through to settlement and beyond. Whether you have questions down the track or your circumstances change, we're always here to help.
Balcombe Financial has been absolutely helpful throughout the process of my construction loan. Amazingly proffesional and responsive. Michael is full of knowledge and knows his proffesion very well. Would highly recommend Balcombe Financial. Thank you Michael.
James O'Haire
We were extremely happy with the service and outcomes provided by Michael Flinos and Balcombe Financial. Michael gave us confidence early in the process as he worked with us to understand the complexity of our portfolio of loans. Michael then found solutions that best suited our needs, provided considerable savings and improved our flexibility. We are thrilled with the refinancing outcomes Michael enabled us to achieve and are we pleased to have Balcombe Financial as one of our trusted advisors. In addition to the excellent outcomes Michael was great to work with and helped us maintain momentum when the other challenges of life distracted us. In our next project with Balcombe Financial Michael is assisting us with a new project and our overall financing strategy. Very professional, client focussed, easy to work with and highly recommended.
Andrew O'Brien
Michael was fantastic to deal with and got my complicated financials sorted out and finance approved without any fuss. Would highly recommend.
Terry Wheeler
I have known Michael Flinos for more than a decade. Michael is a true Professional who is an authentic, subject matter expert in his domain and has great knowledge in the Financial services space and is extremely thorough and diligent. In all my dealings with Michael, I have been impressed with his knowledge, his ability to research products which are fit for purpose and his can do nature. He has a friendly and polite demeanor and is always prepared to go the extra nine yards to get the job done. I would not hesitate to recommend Michael's services to anyone who is looking for a commercially compelling solution to their requirements.
Bill Keramidas
The timeframe for a home loan application can vary depending on the lender, the complexity of your situation, and how quickly supporting documents are provided. In general, once a formal application is submitted, lenders may take anywhere from a few days to a few weeks to assess and provide a decision. At Balcombe Financial, we work to keep the process moving as efficiently as possible by preparing your application thoroughly from the start and staying in regular contact with the lender on your behalf. We will keep you updated throughout the process so you always know where things stand and what to expect next.
Absolutely. Buying your first home is one of the biggest financial decisions you will ever make, and it can feel overwhelming when you are not sure where to start. At Balcombe Financial, we work with first home buyers regularly and understand the questions and concerns that come with the process. We take the time to explain how home loans work, what to expect at each stage, and what government grants or schemes you may be eligible to explore. We do not make assumptions about what you already know, and we are always happy to answer questions no matter how basic they may seem. Our aim is to make sure you feel prepared and supported.
A mortgage broker acts as the link between you and a range of lenders, including banks, credit unions, and non-bank lenders. Rather than you having to approach each lender individually, a mortgage broker does the legwork on your behalf. At Balcombe Financial, we take the time to understand your personal situation, your goals, and your financial position before researching loan options that may suit your needs. We handle the paperwork, communicate with lenders, and guide you through each step of the process. Our role is to make the home loan process more manageable and to help you feel informed and confident at every stage.
While the exact documents required can vary depending on your situation and the lender, there are some common items that most applications will require. These typically include proof of identity such as a passport or driver's licence, recent payslips or tax returns to confirm your income, bank statements showing your savings and expenses, and details of any existing debts or liabilities. If you are self-employed, you may need to provide additional documentation such as business financial statements or tax assessments. At Balcombe Financial, we will walk you through exactly what is needed for your specific application so you can gather everything in an organised way and avoid unnecessary delays.
Balcombe Financial assists clients with a broad range of lending needs. This includes home loans for owner-occupiers, investment property loans, refinancing existing loans, construction loans, and loans for self-employed individuals. We also assist with commercial lending for business owners. Whether you are purchasing your first home, looking to grow a property portfolio, or exploring options for your business, we can help you understand what may be available to you. Every client's situation is different, so we always start with a conversation to understand your specific needs before exploring what options might be worth considering.
When you go directly to a bank, you only see the products that particular bank offers. At Balcombe Financial, we work with a wide range of lenders, which means we can present you with a broader selection of loan options to compare. We take the time to understand your circumstances and help you weigh up your choices in a way that makes sense for your situation. Beyond that, we handle much of the communication and administration involved in applying for a loan, which can save you a significant amount of time and effort. Our goal is to make sure you feel supported and well-informed throughout the entire process.
Not at all. While Balcombe Financial is based in Bayside, Victoria, we work with clients right across Australia. Thanks to phone, email, and video calls, we are able to provide the same level of personalised service to clients regardless of where they are located. Whether you are in regional Victoria, interstate, or anywhere else in the country, we are well-equipped to assist you with your lending needs. We believe that access to quality mortgage broking support should not be limited by geography, and we are committed to making ourselves available and accessible to clients no matter where they call home.
Refinancing means replacing your existing home loan with a new one, either with your current lender or a different one. People refinance for a variety of reasons, such as looking for a loan with different features, consolidating debt, or accessing equity in their property for renovations or other purposes. Whether refinancing makes sense for your situation depends on a number of factors, including your current loan terms, any fees involved in switching, and your financial goals. At Balcombe Financial, we can help you review your current loan and compare it against other options so you can make an informed decision. We will always be upfront about the costs and considerations involved.
A fixed rate home loan locks in your repayment amount for a set period, which means your repayments stay the same regardless of any changes in the broader lending environment during that time. This can make budgeting more predictable. A variable rate loan, on the other hand, can change over time in line with lender decisions, which means your repayments may go up or down. Some loans also offer a split option, where part of your loan is fixed and part is variable. Each option has its own advantages and trade-offs depending on your circumstances and priorities. At Balcombe Financial, we can help you understand the differences and think through which structure may suit your needs.
In most cases, our mortgage broking service comes at no direct cost to you as the client. Balcombe Financial is typically paid a commission by the lender once your loan settles. We are required by law to be transparent about how we are paid, and we will always disclose this information to you clearly before you proceed. This means you can access our knowledge, support, and lender connections without paying out of pocket for the service. If there are any situations where a fee may apply, we will always discuss this with you upfront so there are no surprises along the way.
Balcombe Financial works with clients across Bayside and Australia to compare home loan options and find a structure that fits your life. Speak with our team today to get started.
Book Appointment
