FAQs
Find comprehensive answers to frequently asked questions and common concerns.
Common questions and answers
In addition to offering competitive rates, we pride ourselves on being available to help with whatever questions you have throughout the life of your loan. We don’t discriminate against first-time buyers or experienced investors – no matter who you are, we’re committed to being there when you need.
What does a broker do?
A broker is a finance professional who will work with you one-on-one to discuss your borrowing goals and help you determine how much money you can qualify for. They typically provide a more personalised level of service than you would receive from a lender and also have access to loans from multiple lenders, so they can find the best loan terms for your unique situation.
Do you charge fees for home or investment loans?
There are no extra loan repayments or fees when you take out a loan through a broker. A broker is simply paid commission by the lender for introducing new business, but this doesn’t affect your interest rate or other aspects of the loan agreement.
Is it more expensive to use a broker?
Using a broker is free for you because the lender pays your broker. With access to hundreds of loan products from various lenders, brokers will find the ideal loan for you and your circumstances. In most instances, this is a combination of the lowest available rate at the time and product features that are most convenient for you.
Some brokers charge service fees, which must be disclosed before they provide their services.
How much can I borrow?
While a borrowing calculator can give you a general indication of how much you may be able to borrow, a more accurate assessment requires a detailed review of your circumstances. We recommend getting in touch with our team so we can discuss your options in detail and determine your true borrowing capacity.
Should I go for a fixed or variable rate?
Just as the name suggests, variable-rate home loans have interest rates that change over time. They are often more flexible than other types of loans, with features like redraw facility and extra payment options. However, they do not have fixed repayment amounts.
On the other hand, fixed-rate home loans come with predictable monthly repayments – you will know exactly how much you need to pay each month for the entire duration of the loan term. These kinds of loans might not be as flexible in terms of features but offer borrowers peace of mind when budgeting repayments.
In choosing which type of loan is right for you, it’s good to weigh up what’s most important to you – whether that’s flexibility or certainty around your monthly repayments.
Which lenders do you work with?
Because we are connected to a mortgage aggregator, we have the privilege of being able to source loan options from over 40 different lenders. This means that we can help you find multiple suitable options for you and your specific situation.
Why Clear Island Finance
Because good lending advice should be easy to understand and genuinely in your best interests. Clear Island Finance focuses on clear communication, responsible lending, and building long-term relationships—so you’re supported not just now, but as your needs change over time.
Clear advice, from someone who understands the local market.
Being based in Clear Island Waters means I understand the local property market and the people in it. I started Clear Island Finance to give clear, honest advice that’s easy to understand and genuinely in each client’s best interests. Every situation is different, so I take the time to explain options properly and structure lending solutions that make sense now and into the future.
Michael Reed | Founder & Director
Proudly serving Clear Island Waters and beyond
Based in Clear Island Waters, Clear Island Finance supports clients across the Gold Coast and Australia-wide.
Clear Island Waters
Mermaid Beach
Mermaid Waters
Broadbeach
Broadbeach Waters
Miami
Nobby Beach
Burleigh Waters
Burleigh Heads
Varsity Lakes
Robina
Palm Beach
Surfers Paradise
Benowa
Carrara
Southport
Ashmore
Bundall
Main Beach
Tugun
Moranbah
Dysart
Emerald
Mackay
Airlie Beach