Loan Market Richmond

22/12/2025

We’re pretty proud of this one.

Our in-house credit analyst/CSM/All-round guru, Shane, has been named a finalist in the LMG Awards!

Shane, if you’re reading this, hope you’re enjoying the Christmas break.
I probably should’ve mentioned this before we broke for Christmas… you were nominated for CSM of the Year, and you’re now a finalist!

If you’ve dealt with us, there’s a good chance you've spoken to Shane and if you haven't he's been quietly working in the background making sure things run smoothly and approvals stack up.

He doesn’t chase the spotlight, but this recognition is well deserved.

Congrats Shane 👏

28/11/2025

The Government has just announced the Help to Buy scheme wil be active from the 5th of December. It's a new shared-equity scheme…

Do I think it's smart or effective in helping with housing affordability? Not even a little bit. But we're here to help people so here's the info.

We’ve got Sydney price caps up to $1.3 million, which is high, but only a small group of people on the required income limits can actually get close to that number.

Here’s the simple version using real numbers.
A couple earning $80k each (so $160k combined) with a clean profile and no debts normally has borrowing power around $800,000. This scenario is almost as clean as an application could be, no debts, low living expenses, no kids etc. So not realistic for everyone.

With Help to Buy, that $800k loan goes a lot further:

🏡Existing property (Govt contributes 30%)
$800k represents 70% of the total price →
👉 Around $1.1m–$1.15m purchase price

🔨New build (Govt contributes 40%)
$800k represents 60% of the price →
👉 Up to the full $1.3m cap

Stamp duty on $1.3m is roughly $56k, plus a 2% deposit of $26k, so they’d need around $85k–$90k saved to make it work.

To use Help to Buy, you must:

🏠Be an Australian citizen
🏠Earn ≤$100k as a single OR ≤$160k as a couple/single parent
🏠Have at least a 2% deposit
🏠Be an owner-occupier (no investments) and you have to live in the property the whole time the shared equity is in place
🏠Not own any property in Australia or overseas
🏠Use a participating lender (there's currently two)
🏠Be comfortable sharing 30–40% of the equity with the Government
🏠Repay that equity share later when you sell or refinance (based on the property value at the time)

Will this shift the market?
Probably, it’ll add a bit more demand.
Even limited places still mean more eligible buyers in a market that’s already tight, and that does have an effect at the margins.

Does this scheme make Sydney magically affordable?
Nope.

But for a small number of households, it genuinely does create options that weren’t reachable before.

25/11/2025

A lot of people assume that saving more money increases their borrowing power but it doesn’t.
Savings help with your deposit, but they don’t change how much a lender will let you borrow.

Borrowing power really comes down to income vs expenses, plus a few fixed commitments lenders can’t ignore.
Things like credit card limits, repayments on existing loans, and dependants actually make a difference.
Your day-to-day spending? Not really.

Lenders already use a minimum spending benchmark (HEM) even if you say you spend under it. So cutting your lifestyle to the bone likely won’t shift the numbers.

It’s a topic that comes up regularly so I’ve broken it all down in this video in plain English.

22/11/2025

01/11/2025

🎉 Introducing LMR Rate Day 🎉

Every time the Reserve Bank meets, we’ll mark it with something for the community. A giveaway, an event, or both.

This month we’re kicking it off with a Nintendo Switch giveaway.
It’s our way of bringing a little good news to Rate Day.

All current clients are automatically entered.
If you’d like to join in, head to https://campsite.bio/loanmarket and click on the Giveaway link there.

We’ll draw the winner after Tuesday’s announcement and every RBA meeting after that, you can expect something new for LMR Rate Day.

It’s our small way of making the day a bit more interesting for everyone in Western Sydney.

Entries close at 2pm on Tuesday the 4th of November.

10/08/2025

You. Cannot. Get. Formal. Approval. Before. Buying. A. Property.

You can be pre-approved before you have an exchanged contract. This simply means the lender has assessed you as a borrower and is happy in principle to lend you up to a certain amount.

Once you’ve found a property, the lender still needs to check:

That the property meets their requirements, and that you haven’t overpaid for it.

In NSW, to get formal approval you must have either:

1️⃣ An Exchanged Contract of Sale, or
2️⃣ A Sales Advice and a Draft Contract

These documents are the starting point for the lender to order a valuation. This is a key step before they can give you formal approval.

You cannot have these before an auction, which means if you’re buying under the hammer, there’s always a risk the valuation may not come back as expected.

It’s simply not possible to get formal approval before this stage.

29/09/2024

It’s a common misconception that in order to buy a house, you must have a 20% deposit prepared. While it is generally a good idea to have as much of a deposit as you can, there are plenty of options available that could help you get into your new home with a deposit of less than 20%.

As your broker, we can analyse your situation and goals in detail to help determine any lower deposit options you may be eligible for. Let’s get you into your new home sooner.

25/09/2024

Considering a move interstate? Or perhaps you’re looking to expand your property portfolio? Data from Corelogic has revealed that the change in dwelling values across Australia’s capital cities varies significantly between locations.

When it comes to purchasing property, the property value growth that suits you will vary depending on your individual goals and future plans.

When it comes to securing the finance to make these goals happen, as your broker, we’re here to help. Reach out to us.

23/09/2024

When it comes to buying a car, there's a lot more to consider than just the cost of the vehicle itself. It's a good idea to make sure you understand the ins and outs of all costs that may be involved.

When it comes to your loan, that’s where we come in. As your broker, we can compare the market for you and help you secure pre-approval for your loan. That way, you'll know your budget and can start shopping.

20/09/2024

Whether you dream of expanding your property portfolio, buying your first home or you’re looking for a vehicle to suit your growing family, ensuring that your finances are in order before making any decisions is a good idea. But how can you make sure you're maximising your financial position to put your best loan foot forward?

From reviewing your home loan, budget, investments and insurance to ensuring you have a forward-planning mindset, we can help guide you through these steps so you can reach your goals sooner. We're here to help.

18/09/2024

Harold and his purple crayon is like a Loan Market broker and a panel of lenders. We can help find the right finance to help you achieve your dreams.

15/09/2024

Hearing “no” from a lender can feel like a set back, but it doesn’t mean the end of your homeownership dreams. Reach out for a chat - as your broker, we can sit down with you to help you explore all your available options.