Frequently Asked Questions
Have questions about home loans, commercial lending, or asset finance? Find answers to our most frequently asked questions below — all in one place. If you still need help, our friendly team is just a call or click away.
Home Loan FAQs
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1. Should I rent or buy a home—what’s better for me?
It depends on your finances, lifestyle, and long-term goals. Buying can build equity, while renting offers flexibility. We help you weigh both based on your situation.
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2. What is an offset account and how does it benefit me?
An offset account reduces the interest charged on your home loan by offsetting your loan balance with the funds in your linked transaction account.
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3. How much deposit do I need to buy a home?
Many lenders accept as little as 5–10% with Lenders Mortgage Insurance (LMI). We’ll guide you on your deposit options and structure your loan smartly.
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4. Can I still get a loan if I’m self-employed?
Yes. We work with lenders that offer low-doc and alt-doc home loans suited for self-employed borrowers.
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5. What’s the difference between a fixed and variable home loan?
Fixed rates offer stability, while variable rates fluctuate with the market and offer more flexible features.
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6. Am I eligible for any first home buyer grants or schemes?
We’ll assess your eligibility for grants like the First Home Owner Grant (FHOG), First Home Guarantee, and stamp duty concessions.
Commercial Loan FAQs
Far far away, behind the word mountains, far from the countries Vokalia and Consonantia, there live the blind texts. Separated they live in Bookmarksgrove right at the coast
Far far away, behind the word mountains, far from the countries Vokalia and Consonantia, there live the blind texts. Separated they live in Bookmarksgrove right at the coast
Far far away, behind the word mountains, far from the countries Vokalia and Consonantia, there live the blind texts. Separated they live in Bookmarksgrove right at the coast
Far far away, behind the word mountains, far from the countries Vokalia and Consonantia, there live the blind texts. Separated they live in Bookmarksgrove right at the coast
Far far away, behind the word mountains, far from the countries Vokalia and Consonantia, there live the blind texts. Separated they live in Bookmarksgrove right at the coast
Far far away, behind the word mountains, far from the countries Vokalia and Consonantia, there live the blind texts. Separated they live in Bookmarksgrove right at the coast
Far far away, behind the word mountains, far from the countries Vokalia and Consonantia, there live the blind texts. Separated they live in Bookmarksgrove right at the coast
Far far away, behind the word mountains, far from the countries Vokalia and Consonantia, there live the blind texts. Separated they live in Bookmarksgrove right at the coast
Far far away, behind the word mountains, far from the countries Vokalia and Consonantia, there live the blind texts. Separated they live in Bookmarksgrove right at the coast
Home Loan FAQs
-
1. Should I rent or buy a home—what’s better for me?
It depends on your finances, lifestyle, and long-term goals. Buying can build equity, while renting offers flexibility. We help you weigh both based on your situation.
-
2. What is an offset account and how does it benefit me?
An offset account reduces the interest charged on your home loan by offsetting your loan balance with the funds in your linked transaction account.
-
3. How much deposit do I need to buy a home?
Many lenders accept as little as 5–10% with Lenders Mortgage Insurance (LMI). We’ll guide you on your deposit options and structure your loan smartly.
-
4. Can I still get a loan if I’m self-employed?
Yes. We work with lenders that offer low-doc and alt-doc home loans suited for self-employed borrowers.
-
5. What’s the difference between a fixed and variable home loan?
Fixed rates offer stability, while variable rates fluctuate with the market and offer more flexible features.
-
6. Am I eligible for any first home buyer grants or schemes?
We’ll assess your eligibility for grants like the First Home Owner Grant (FHOG), First Home Guarantee, and stamp duty concessions.
Commercial Loan FAQs
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1. What can I use a commercial loan for?
Use it to purchase or refinance commercial property, fund business growth, or finance office, retail, or industrial spaces.
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2. How much can I borrow?
Typically 70–80% of the property value, though higher amounts may be possible based on your financials.
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3. Do I need a business plan to apply?
Not always, but it can strengthen your application—especially for new ventures or large-scale funding.
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4. How do commercial loan rates compare to home loans?
They’re generally higher due to added risk. Your business profile and the loan structure will impact your rate.
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5. What documents do I need?
Usually tax returns, business financials, property contracts, and ID. We’ll help you compile everything required.
Asset Finance FAQs
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1. What is asset finance?
It helps you buy or lease vehicles, equipment, or machinery without paying the full cost upfront.
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2. What assets can I finance?
Vehicles, trucks, medical equipment, plant and machinery, office and IT equipment—just about anything with business use.
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3. What finance options are available?
Chattel mortgage, hire purchase, finance lease, and novated lease. We’ll guide you to the right one.
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4. Can I finance second-hand assets?
Yes—many lenders allow second-hand items, with terms depending on age and condition.
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5. How quickly can I get approved?
Many applications can be approved within 24–48 hours for standard assets and documentation.
General FAQs
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1. How is Flourish Finance different from going to a bank?
We give you access to dozens of lenders, not just one. That means more choice, better rates, and personalised advice.
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2. Are there any fees for your services?
Our services are usually free—we're paid by the lenders. Any fees are discussed upfront so there are no surprises.
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3. How long does loan approval take?
Typically 1–2 weeks for home loans. Commercial and complex loans may take longer depending on documentation.
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4. Can I apply if I’m self-employed?
Yes, you can. We specialise in self-employed lending with low-doc and alt-doc options.
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5. What is Lenders Mortgage Insurance (LMI)?
LMI protects the lender when your deposit is less than 20%. We’ll explain if and when it applies to you.
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6. How do I check my borrowing power?
Use our borrowing power calculator or book a chat with one of our brokers for a personalised estimate.
Still have questions?
We’re here to make finance simple.
