Switching Home Loans Made Easy.

There are many reasons you may be looking to refinance your home loan – maybe you’re coming off a fixed rate, looking to consolidate debts or need more flexibility in your loan. Whatever your motive, here’s what our expert consultants suggest considering before taking the plunge.

1.       What is it going to cost you?

Make sure you have clear understanding of the terms and conditions of your existing loan and the loan you’re looking to refinance to. This will allow you to factor in any fees that may come with the change, such as discharge fees, valuation fees and break costs.

If you’re not sure what terms and conditions apply to you, chat to your experienced MyChoice Home Loans consultant.

2.       What loan features would you like?

When refinancing make sure you consider the features you would like included in the home loan, such as a redraw facility or an offset account to help you pay down the loan quicker.

Your home loan consultant will help secure a home loan that is benefits your unique circumstances, whilst ensuring you benefit from the best deal available.  

3.       What are the term conditions?

Keep in mind that the home loan you are refinancing to may offer a lower interest rate but can add on another 15-30 years to pay off, ultimately increasing in the interest you’ll pay over the life of the loan.

4.       How flexible is the loan?

Make sure you discuss with your MyChoice Home Loans consultant if the new home loan you wish to apply for offers any relief or concessions, such as circumstances where the lender can provide financial relief support of your repayments if an eligible borrower, spouse, or dependant passes away or is medically certified with a terminal illness.

At MyChoice Home Loans we make refinancing your home loan easy, making the transition between loans stress free by using our relationships with some of Australia’s leading lenders to secure the best home loan tailored to meet your needs as they are today.


Optimise your home finances with a Refinance Home Loan from MyChoice Home Loans. Enquire now to talk to one of our consultants. 

Understanding Stamp Duty.

If you’re looking to buy a home, you’ve probably heard the word “stamp duty” thrown around a few times. But what is it?

To put it simply, stamp duty is a tax paid when buying a house. The exact amount depends on which state or territory you live in, the price of the property you’re buying plus, any exemptions that might apply to your situation.

On average, Australian’s pay tens of thousands of dollars in stamp duty, on top of the mortgage, deposit and other expenses that come along with buying a house.

So, let’s break it down state by state.

New South Wales:

Stamp duty is payable in NSW when you buy a home including:

·         Your first home

·         An investment property

·         A holiday home

·         A farming property

However, if you are a first home buyer, you may be entitled to a concessional rate or even an exemption from paying stamp duty under the First Home Buyers Assistance Scheme (FHBAS)*. This applies to:

·         Buying an existing home

·         Buying a new home

·         Vacant land on which you intend to build a home

Buying off-the-plan which you plan to use as a main residence? You maybe be able to defer your stamp duty payment for up to 12-months after you sign the agreement, or until the property is completed or handed over, whichever comes first.

Learn more about stamp duty in NSW.

Calculate the stamp duty you will pay on a block of land for your McDonald Jones Homes or MOJO Homes build.


Staying consistent with NSW if you purchase a first home, investment property, holiday home or farming property you are required to pay stamp duty.

Victoria offers a number of exemptions including many aimed at first home buyers. If you fall into this category, you may be entitled to a concessional rate or an exemption*.

Discover more about stamp duty in Victoria.

Calculate the stamp duty you will pay on a block of land for your Arden Homes build.

South Australia:

The South Australian Government recently announced that first home buyers may be eligible for stamp duty relief on their new home purchase.

·         Stamp duty is reduced to zero if your new home is below $650,000 or $400,000 for vacant land.

·         Stamp duty is partially reduced if your new home is below $700,000 or $450,000 for vacant land.

There is also relief for those who lost their homes in the recent Murray Riverlands region floods.

If your existing principal place of residence was destroyed or substantially damaged in the recent floors and you are looking to purchase or re-build a replacement home constructed within 3 years from date of purchase, you can receive relief up to $48,830 in stamp duty.

Find out more about stamp duty in South Australia.

Calculate the stamp duty you will pay on a block of land for your Akora Homes or Weeks Homes build.


Stamp duty in Queensland is applicable to the same dwellings as the previously mentioned states and offers a home or vacant land concession to first home buyers.

·         Home Concession: Your first home concession only applies to a home valued under $550,000 and can save you up to $15,925.

·         Vacant Land Concession: The first home vacant land concession only applies to vacant land valued under $400,000 and you can save up to $7,175.

Learn more about stamp duty in Queensland.

Calculate how much stamp duty you will have to pay on a block of land for your Brighton Homes build.

To learn how much stamp duty, you could expect to pay on your new home purchase or vacant land purchase use our Stamp Duty calculator.

All you have to do is enter your details and our calculator will automatically break down the government fees that you are required to pay.

Chat with your local MyChoice Home Loans consultant about available home loan options for you. 

*Terms & Conditions apply. Head to your appropriate states’ website for further details.

Pay off your home loan sooner.

Becoming mortgage-free is the ultimate goal. There are so many benefits to achieving this, largely the financial freedom that comes with being relieved of one of the biggest debts possibly in your lifetime.

We’ve compiled a list of ways you can help pay off your home loan faster.

1.     Secure a lower interest rate.

Many Australia’s may question if this is even possible these days; however, the good news is you can!

By locking in a more competitive interest rate, this can save you thousands of dollars. By paying less in interest you may be able to increase the amount you pay towards your principal loan.

Our expert mortgage consultants will do the hard work for you. We can call on our relationships with some of Australia’s leading lenders to negotiate an interest rate that works best for you.

To discover how much you could save with a lower interest rate using our mortgage
repayments calculator.

2.     Make more frequent or extra repayments.

It sounds obvious, but making more frequent or extra repayments is a simple way to pay off your home loan sooner.

Have you recently received a pay rise, or maybe you’ve started a side hustle as a way to bring in an additional income? Did you receive a tax refund, or inheritance? Consider putting this additional money towards your mortgage.

Plus, did you know by making fortnightly repayments rather than monthly, you can end up making an extra month’s home loan repayment every year! Now that’s what we call a fun fact!

3.     Create an offset account.

An offset account is like an everyday bank account linked to your home loan balance. Fully transactional and allows you to withdraw funds for your day-to-day expenses.

You can deposit your salary and savings into the account and the balance is then offset against the amount owing on your home loan, reducing the interest on your home loan.

For example, if you have a loan of $550,000 and $30,000 in your offset account; in this situation, you’ll only be charged interest of a loan balance of $520,000.

As the interest charged on your monthly repayments is cut down, you could find yourself with extra money to put towards your repayments and help you reduce your loan quicker.

4.     Refinance your home loan.

We highly recommend looking at refinancing every few years, whilst you may not actually need to refinance your home loan, you will have peace of mind knowing that your interest rate is still competitive.

Our mortgage consultants can also check that you aren’t paying for any features you don’t need and not over-paying in fees and charges. 


Chat with your local MyChoice Home Loans consultant about a FREE home loan review.

Home Loan Satisfaction for the Self-Employed.

Becoming self-employed and being your own boss is something that more people are transitioning into. Whilst there are many benefits to doing so, when it comes to applying for a home loan, many people find themselves up against the financial stigma that makes it harder to build your dream home.
This was the main issue that our client Glenn faced, whilst looking to build his dream home in The Gables, Box Hill.

During COVID, Glenn bought into a franchise, and started his self-employment journey, where he was able to double the revenue and overall value of the business.

Whilst Glenn was financially stable, he found that when looking to buy his dream home, the banks and brokers wouldn’t consider his home loan application due to his current work status.

“Since I hadn’t been with the business for at least two years, it was very difficult to be considered for construction funding or a mortgage loan,” Glenn says.

That was until he spoke to the mortgage experts at MyChoice Home Loans and started the process with John Berghella and Brendan Hawe.

MOJO Homes had this package going, where if you built with them and secured the construction loan with MyChoice Home Loans, you qualified for up to $12,000 of interest costs paid for whilst you’re building.
“I mean, who else is offering that? No one! It’s just too good of an offer to ignore.”

On top of the MyChoice Pays interest saver offer, Glenn was pleased he was able to be heard and understood. Our home loan specialists are committed to providing reassurance and certainty, no matter your working situation.

“I wouldn’t have been able to settle my land if it wasn’t for John. There is no one else who comes to mind that could’ve helped make this experience run smoother.”

At MyChoice Home Loans, we understand every journey is different, and from securing your first home build to refinancing the future, there’s a product out there to suit you and your personal situation. Our expert team will work with you to understand your situation, no matter how unique, and help you get the solution that you desire.

To find out more, get in touch with our mortgage consultants today for all your home loan needs.

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Buying vs. building an Australian house: What are the costs?


What does your dream Australian home look like? Many people go their whole lives never finding it, but it could be right around the corner. It could be on that empty piece of land down the road. All you have to do is build it.

However, building a home can take some time, and there are a few expenses that you have to take into account. It can end up being cheaper than buying an existing house, but you’ll still have to budget for more than the cost of the land and the build.

What costs do you need to consider when constructing a new home in Australia?

Building your dream house means paying for every single aspect of the project. This includes:

  • Buying the land.
  • Stamp duty on your property.
  • Loan settlement costs from a previous mortgage (or transferral fees).
  • Cost of preparing the site for a build.
  • Planning fees, including going to council for approval.
  • Finishing costs (account for approximately 25 per cent of your total budget).
  • Cost of the build itself.

Some of these costs might end up being small, but they certainly add up. It helps to have a home loan consultant who understands every aspect of a build, and how you’ll need to structure your loan to keep on top of necessary payments.

Before you start your build, you need to plan everything.

What does a construction loan include?

Getting a land and construction loan is more than just taking out a regular mortgage from a bank or broker. You should only work with a lender with experience in providing construction loans, and that’s where MyChoice Home Loans comes in.

When you build your brand-new home with a builder supported by the NXT Building Group, speak to one of our construction loan consultants who can guide you through the entire process, calling on our relationships with some of Australia’s leading and most respected lenders to find the perfect home loan to fit your unique needs.

Our construction loans are made to suit you:

  • Enjoy very competitive rates on a Land and Construction Loan that we customise to your personal needs.
  • Stay in control of your construction finance with a simplified monthly statement that tracks your offset balance, loan balance and all transactions.
  • Minimise loan costs with no establishment fees and no ongoing account keeping fees – put extra money towards furniture and fitting out your brand-new home.
  • Reduce interest payments with 100% Offset Account.
  • Receive ongoing support and help with paperwork from our experts. 

 For more information, get in touch with our team today.


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