Understanding the Role of a Mortgage Broker

A mortgage broker is a licensed professional who helps buyers secure home loans by connecting them with suitable lenders. Rather than going directly to a bank, a broker offers multiple loan options, negotiates on your behalf, and simplifies the complex application process with a friendly face who has done it themselves.

For New Zealanders moving to Australia, the right mortgage broker can make a huge difference in navigating the home loan landscape. Relocating comes with unique financial considerations, and working with someone who has been through the process themselves can be invaluable. They can help you anticipate challenges, guide you through every step, and ensure you get the best deal possible.

The best part? This service is completely free.

🔹 Pro Tip: Start researching mortgage brokers as early as possible. A broker familiar with Kiwi financial histories can help streamline the process and avoid delays.

The Popularity of Mortgage Brokers in Australia

Mortgage brokers have become the dominant choice for Australians seeking home loans. According to the latest industry data, more than 75% of all home loans in Australia are written by mortgage brokers (MFAA). This number has grown significantly from around 50% in the early 2010s, demonstrating the increasing trust and reliance Australians place on brokers.

Why Do Australians Prefer Mortgage Brokers?

• Access to multiple lenders – Unlike banks, which only offer their own products, mortgage brokers provide a broad range of loan options.
• Expert negotiation skills – Brokers advocate for their clients, often securing better rates and terms than borrowers could on their own.
• Guidance through the process – Especially for first-home buyers and investors, brokers simplify the mortgage application journey, handling paperwork and lender requirements.
• Support beyond the loan – Many brokers offer long-term financial advice, ensuring that clients make informed property decisions.
• Free service – Mortgage brokers in Australia are generally paid by the lender, meaning their service is free for borrowers.

🔹 Pro Tip: You can look to refinance your NZ home loan for a deposit ahead of coming over to Australia, so you will need to spend less time renting and can purchase a superior asset here.

Starting is easy and the link is here - Get ready to start your home loan journey!

Key Considerations for New Zealanders Moving to Australia

Before purchasing property in Australia, Kiwis should be aware of:

1. Visa and Residency Status – As a New Zealander, you can live and work in Australia indefinitely under the Special Category Visa (SCV). Notably, New Zealanders do not require approval from the Australian Foreign Investment Review Board (FIRB) before purchasing urban property in Australia (source).
2. Borrowing Power – Banks assess your income, employment status, and credit history. New Zealand citizens residing in Australia can borrow up to 95% of the property's value, while those living in New Zealand or elsewhere may be limited to 85% (source).
3. Government Incentives – Kiwis may be eligible for first-home buyer grants and stamp duty exemptions in some states, but conditions apply (source).‍
4. Accessing Superannuation – Kiwis may bring their kiwisaaver over to Australia and access $15k of it towards a house deposit.

🔹 Pro Tip: Self Employed individuals a minimum of six months proven income to be considered for lending. Full time employees can move faster with a signed contract and one payslip.

Case Study: James' Journey to Homeownership in Australia

Read the full case study here

James and Hayley, a New Zealand couple moving to Brisbane, faced challenges securing a mortgage due to differences in banking systems and lending policies. With the help of a Kiwi broker, he was able to navigate the process seamlessly, securing a competitive loan with a lender who understood his financial situation and got them here into the market (even when still actually in NZ).

Having access to an expert who had been through the same experience gave James confidence in his decisions. He not only secured his mortgage but also received guidance on long-term investment strategies and tax considerations, ensuring he made the most of his move to Australia.

The best part? Their recent auction win was even featured in the news!

🔹 Pro Tip: A mortgage broker with experience in Kiwi-Aussie transitions can help prevent unexpected roadblocks during your home loan approval.

More case studies here

Get the Best On Your Side - For Free

Mortgage brokers do not charge clients for their services. Instead, they receive a commission from lenders when a loan is settled. This means borrowers can access professional guidance, multiple lender options, and expert advice at no extra cost.

✅ Banks already factor commission costs into their loan products, whether you use a broker or go directly to the lender. If you bypass a broker, the bank simply retains that cost while paying their own in-house lending staff instead. Get top-tier experts on your team and in your corner.

✅ Brokers are legally required to act in their clients' best interests, ensuring they recommend the most suitable loan rather than prioritising commissions.

✅ A broker’s commission structure does not increase the loan amount or interest rate for the borrower.

🔹 Pro Tip: Work with a broker who specialises in helping Kiwis—having an expert who understands both financial systems can make a significant difference in your home-buying journey.

Calculate Your Borrowing Capacity

Frequently Asked Questions (FAQs)

1. What is the minimum deposit required for Kiwis buying property in Australia?

Deposit requirements vary by lender, but New Zealand citizens can typically borrow up to 95% of a property’s value, meaning you may only need a 5% deposit. Some lenders may have stricter requirements, so it’s best to check with a mortgage broker.

2. Will Australian banks consider my New Zealand credit history?

Most lenders focus on your Australian credit report and assume your finances in New Zealand are in good standing. If you’re newly arrived and don’t have much credit history in Australia, working with a mortgage broker can help you find lenders who consider your full financial profile.

How to Get the Best Home Loan: What Australian Lenders Look For

3. Are Kiwis eligible for first-home buyer grants in Australia?

Yes, New Zealanders with a Special Category Visa (SCV) may qualify for first-home buyer grants and stamp duty exemptions in many states. Eligibility criteria vary by location. In addition to your deposit, it’s worth exploring government schemes and grants designed to assist first-home buyers. Check out this handy resource: www.firsthome.gov.au.

4. Can I use my New Zealand home equity to buy property in Australia?

Yes! Many Kiwis refinance their New Zealand property to release equity and fund a deposit for an Australian home, helping them buy sooner. If you need assistance with this, we have a strong network of experienced brokers who can guide you through the process.

5. How does currency exchange affect my mortgage application?

If you earn or hold savings in New Zealand dollars (NZD), exchange rate fluctuations can impact your borrowing power. Some lenders accept foreign income, but it’s essential to work with a mortgage broker to ensure you secure the best loan options available.

6. Can I use my KiwiSaver to buy property in Australia?

Yes, you can withdraw up to $15,000 per applicant from your KiwiSaver for a home purchase in Australia. However, specific conditions apply, so it’s advisable to speak with a broker or financial advisor to understand the full process.

Final Thoughts

Working with a mortgage broker who understands New Zealanders makes all the difference, ensuring you receive:

✅ Expert advice
✅ Insider knowledge
✅ Personalised support at every step of your homeownership journey.

📞 Need help securing a mortgage in Australia? Get in touch today for a consultation and take the first step toward owning your home!

🔹 Pro Tip: Whether you're buying your first home or investing, an experienced Kiwi mortgage broker can provide tailored solutions that maximise your borrowing power and long-term financial security.

10 Essential Tips for New Zealanders Moving to Australia