As the end of financial year approaches, now is the time to take stock of your finances, including your home loan. Whether you own your home or an investment property, this is the ideal time to assess your financial position, review your loan structure, and make sure your current mortgage is still fit for purpose. 

Rates shift, life changes, and alternative loan products emerge. What suited you years ago might no longer. Reviewing your loan every two to three years is crucial for maintaining good financial health. Below is some general guidance, along with helpful links, to steer you through what to check this end of financial year.  


Home loan health check: For all mortgage holders

Many borrowers lock in a loan and forget about it – but letting your home loan sit untouched for years could quietly erode your financial position. As part of your EOFY reset, ask yourself: 

  1. Do I still need the features I’m paying for?
    Offset accounts, redraws, cheque access – are you using them, or just paying for them? 
  2. Has my financial situation changed?
    Income, expenses, employment, family size – life moves fast. Your loan should reflect your current life, not a former one.
  3. When was my last property valuation?
    Rising property values may have unlocked equity you’re not using – equity that could fund renovations, reduce debt, or improve cash flow. 
  4. Am I satisfied with my lender’s service?
    Delays, indifference, or poor communication are red flags. If your lender treats your business as a burden rather than a priority, it’s time to look elsewhere. 
  5. Am I paying unnecessary fees or restricted from making extra repayments?
    Redraw fees, account-keeping charges, and limits on extra repayments can add up or hold you back. Check if your loan offers flexibility without the hidden costs. 

If you’re unsure how to answer these questions, or if the answers aren’t giving you confidence, it’s a clear sign to speak to a broker. I can review your current loan, compare rates and features across lenders, and help ensure you’re in a product that aligns with your financial needs and goals. 


EOFY checklist for property investors

If you also hold investment property, you should go a step further and prepare your portfolio for tax time. Here’s a quick EOFY checklist to help keep you on track.

1. Maximise your tax deductions

The Australian Taxation Office’s 2025 Tax Time toolkit for investors has a wealth of information about what tax deductions you can and can’t claim for your property investment.

Examples include:

2. Document your rental income and expenses

Your tax accountant will need details about your rental income and expenses to process your tax, so make sure you have these ready by the end of the financial year.

Hopefully you’ve moved away from a shoebox of faded receipts to an online platform that allows you to store and manage your records effectively. There are all sorts of record-keeping tools out there that make it easier for property investors to keep records safe in one place.

3. Consider pre-paying expenses

If you’re expecting to be in a higher tax bracket this year compared to next, it might be worth pre-paying your investment property expenses like insurance or loan interest before June 30. That way, the tax deductions will fall in the current financial year.

You can find the 2024-25 tax brackets on the ATO website.

4. Ditch bad debts

If your tenants haven’t paid their rent, you may be able to write it off as a bad debt. This can reduce your taxable income, so it’s worth speaking to your accountant about it.

5. Plan for Capital Gains Tax (CGT)

Sold an investment property this financial year? You’ll need to plan for the Capital Gains Tax (CGT) liability.

Keep in mind that if you’ve held the asset for longer than 12 months, you may be entitled to the 50% CGT discount.

6. Don’t forget depreciation deductions

You can claim a deduction in value of depreciating assets, for example a dishwasher in your rental property.

If you haven’t already done so, get a quantity surveyor to prepare a depreciation schedule report for your investment property. This will outline the available deductions for the depreciation of the building and its fixtures and fittings. It’s another great way to save on tax.

7. Review your property’s performance and plan ahead

How did your property perform over the past 12 months? What was the rental income compared to previous years? What were the occupancy rates and maintenance costs comparatively?

If you have multiple investment properties, this may help you weed out the high-performing investments and draw your attention to those that need restructuring or further review.

Next, consider what your goals are moving forward? Maybe you want to get a second investment property, or renovate your current one to boost its rental return? If so, talk to us about your finance options.

8. Get an investment loan health check

With two cash rate cuts so far this year and a lot of interest rate movement, it’s a good time to get an investment loan health check.

The information discussed in this article is general in nature and you should always seek professional advice in relation to your individual tax circumstances. I can assist with your finance options. If you’d like help reviewing your current loan or lining up finance for a future purchase, I’m just a call away. Reach out to discuss your options and make the most of the new financial year. 

When it comes to taking out a home loan, all the options can be overwhelming. Should you go with a Big Four bank or a lender that’s less known? Is it best to choose a variable home loan or a fixed-rate loan in today’s lending environment?

With so many questions to ponder, it’s little wonder why more Australians than ever are choosing to use a mortgage broker.

The mortgage broker market share hit a record high of 76 per cent in the December quarter. That’s right – three in four borrowers now use a mortgage broker to help them navigate the home loan application and approval process.

Here are some compelling reasons why Aussies are placing their trust in the expertise of their brokers, rather than going direct to a lender.

Maximise your borrowing power

Different lenders have different lending criteria, so the amount one bank will lend you may vary considerably compared to a competitor. Mortgage brokers understand the nuances between lenders and their home loan products.

If you want to maximise your borrowing power or you have a complex financial situation (for example, you’re self-employed), a mortgage broker can help get you over the line with finance.

Options that work for you

Mortgage brokers work with a wide range of lenders, giving you access to many different home loan products. A broker will take the time to understand your specific financial situation and goals, then recommend a home loan that suits your needs.

A bank, on the other hand, is solely interested in getting your business.

Access to special offers

Some lenders offer special home loans or products based on your profession. If you’re a teacher or a doctor or you’re self-employed, for example, your broker could line you up with a lender that may have special offers for you.

Brokers may also be able to negotiate a more competitive interest rate or loan terms on your behalf. However, if you went direct to the bank yourself, you’d be the one doing the negotiating.

Brokers have your back

A broker is bound by a Best Interests Duty, meaning they are legally obliged to put your interests first. That means providing home loan options that are based on your unique circumstances and goals.

Someone to do the legwork for you

For many borrowers, having someone to walk them through the pre-approval and home loan application process is invaluable. Your broker will take care of the paperwork and optimise your chances of a successful home loan application.

A mortgage broker can also answer questions at any point in the home loan journey – whether you’re curious to know what your borrowing capacity is, or you want to evaluate your home loan 12 months after settlement.

Ready to chat about your finance needs?

For most people, buying a property is the biggest financial decision of their life. You want to get it right.

Using a mortgage broker makes the process smoother and more efficient, while also potentially saving you time and money.

To explore your borrowing capacity, organise pre-approval or to review your current home loan, get in touch today and discover why three in four Aussies use a broker.

If you’re looking to buy a property, it’s important to remember that your gambling habits could be taken into account when you apply for a home loan.

Your lender will look at any track record of gambling when assessing your financial situation and ability to repay the mortgage.

Not only could gambling jeopardise your chances of being approved for a loan, but it could also impact your ability to refinance down the track.

Understanding the process

When you apply for a home loan, your lender will do an affordability assessment. As part of this, they’ll assess your income (from all sources) against your outgoings (your regular expenses). They’ll also likely check your credit score.

If a lender sees evidence of regular gambling transactions as part of your expenses, it may be a red flag. They’ll look at how much money you’re gambling, how frequently you’re betting and what type of gambling you’re participating in.

If it’s a small amount you’re gambling relatively infrequently for leisure, it probably won’t raise any alarm bells with the lender. The occasional Powerball ticket, for example, will be considered harmless. However, if it’s an ongoing habit that’s getting out of control, it could limit your ability to secure finance.

How to turn things around

There are steps you can take to try to maximise your chances of getting approved for a home loan if you do have a history of gambling.

Seeking help

There are many resources available to help you tackle a gambling addiction. GambleAware offers tools and support for those who are looking to stop gambling. The site includes a gambling assessment to see how the habit may be impacting your life, as well as research and links to gambling support groups.

You can also get immediate support from Gambling Help Online on 1800 858 858. It’s free and confidential. Other options can be found on the Health Direct website.

Like to talk through your finance options?

If you’d like to know more about how your gambling habit may affect your home loan application, we’re here to answer your questions.

Talk to us confidentially about your financial situation and we’ll help you work towards getting the finance you need.

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