Brisbane buyers must navigate lender policies, serviceability tests and several government support programs. Queensland transfer duty concessions, the First Home Owner Grant and federal homebuyer schemes each have separate rules and deadlines. This guide explains the main finance options and where a local mortgage broker can help.
What a broker does and how they are paid
A mortgage broker sits between you and a panel of lenders. They collect your financial information, compare it with different lending policies and present suitable options with an explanation. Under Australian law, brokers must act in a client’s best interests. Moneysmart notes that they are usually paid by the lender through an upfront commission and an ongoing trail commission, both of which must be disclosed.
It is worth understanding this arrangement before your first meeting. Ask how many lenders are on the broker’s panel, which lenders were compared for your circumstances, why a particular loan was recommended and what the broker will be paid if you proceed. You can also check a broker’s credit licence or authorisation on ASIC’s registers. Neither a broker nor a lender can promise approval before an application is assessed.
Brisbane property finance options at a glance
Most home loans use one or more of the following features:
- Variable, fixed or split rates. Variable rates move with lender pricing. Fixed rates keep repayments more predictable for a set term but may limit extra repayments and involve break costs. A split loan divides the balance between fixed and variable portions.
- Offset and redraw. An offset account can reduce interest because the lender calculates interest on the loan balance minus the amount held in the linked account. A redraw facility provides access to eligible extra repayments. Fees and access rules vary.
- Interest-only repayments. These are used by some investors and during construction. Initial repayments are lower, but the principal does not decrease during the interest-only period, which may increase the total interest paid.
- Guarantor arrangements. A family member’s property secures part of the loan. This may reduce or remove lenders mortgage insurance, but the guarantor takes on significant financial and legal risk. Independent advice is important.
Queensland incentives and how they combine
Queensland incentives have changed in recent years, so contract dates, property values and eligibility details can affect the outcome.
Transfer duty. For contracts dated 1 May 2025 or later, eligible first-home buyers purchasing a new build can access a full transfer duty concession, reducing duty to nil regardless of price, according to the Queensland Government. For established homes, the first-home concession can save up to $24,525. It applies to properties valued under $800,000, with no duty payable on eligible homes valued at $700,000 or less.
First Home Owner Grant. Eligible buyers of new homes valued up to $750,000 may receive a grant of $15,000 or $30,000, depending on the contract date. Queensland Revenue Office material for the 2026-27 State Budget states that the $30,000 grant applies to eligible contracts signed from 1 July 2026.
Australian Government 5% Deposit Scheme. Formerly part of the Home Guarantee Scheme, this program supports eligible first-home buyers purchasing with a deposit of at least 5%. Eligible single parents may qualify with a 2% deposit. Property price caps, lending criteria and participating lender rules still apply.
Help to Buy. Applications for this Australian Government shared-equity program opened on 5 December 2025. Under a shared-equity arrangement, the government contributes part of the purchase price in exchange for an ownership share.
Queensland Housing Finance Loan. Eligible applicants may be able to buy with a 2% deposit and without lenders mortgage insurance. Initial repayments may be set at up to 35% of gross monthly household income.
Program rules and availability can change. Confirm your position with the relevant government administrator and use its official eligibility tools before signing a contract.
Building or buying new: how construction finance differs
A house-and-land package usually requires a construction loan rather than a standard home loan settled in one payment. ANZ and CommBank describe a structure in which funds are released through progress payments as each building stage is completed. Borrowers generally make interest-only repayments on the amount drawn during construction. These lenders also typically expect construction to finish within 24 months of the first drawdown, although individual policies vary.
The lender may require a fixed-price building contract, council approvals, builder invoices and inspections or valuations at different stages. Timing matters because grant and duty concession eligibility can depend on contract dates rather than settlement dates. A broker can help coordinate documents between the borrower, builder, valuer and lender, reducing the risk of avoidable delays.
Broker or straight to a bank?
Going directly to your existing bank can be practical when your income, deposit and borrowing needs are straightforward. The limitation is that one bank applies its own credit policy and offers only its own products, which matters most when you are weighing fixed against variable and how interest rate fluctuations would hit your repayments. Inovayt works across a lender panel, which can provide a broader comparison while still being subject to each lender’s rules. Because every broker panel is limited, ask which lenders were considered, which were excluded and why. In either case, approval depends on your documents and the lender’s assessment.
When a Brisbane broker may be useful
A broker may be particularly helpful for a first-home purchase involving a duty concession, grant and low-deposit scheme; self-employed or variable income that lenders assess differently; a house-and-land build with staged drawdowns; or a refinance review near the end of a fixed term. For lender comparisons and support with grant and concession paperwork, some buyers consult home loan brokers in Brisbane, including teams such as Inovayt. This support can simplify the process, but it cannot guarantee approval, eligibility or savings.
How to prepare for your first appointment
- Collect recent payslips, tax returns or business financial statements, along with statements for existing loans and credit cards.
- Document the source of your deposit, including savings, gifted funds and any proposed guarantor arrangement.
- Use official eligibility tools provided by the Queensland Government, Queensland Revenue Office and relevant federal agencies.
- Prepare questions about rates, fees, loan features, lender comparisons and the broker’s commission.
What Brisbane buyers should keep in mind
Property finance offers plenty of options, but choosing among them requires careful comparison. Verify government program eligibility, ask structured questions and pay close attention to contract dates. Whether you work with Inovayt or another licensed broker, useful support should be based on clear comparisons, accurate paperwork and realistic expectations rather than promises about the outcome.
FAQ
Can I combine the First Home Owner Grant with a transfer duty concession?
They are separate Queensland programs with different eligibility tests, so some buyers may qualify for both. Confirm your circumstances with the Queensland Government and Queensland Revenue Office.
