From your beautician to the in-laws, and even complete strangers – when you’re on the hunt for a home loan, chances are you’re taking tips from faux-perts – non-experts who sometimes offer dodgy advice.

No wonder one in five Aussies say they’re confused about the home loan process.

Mum and dad may be chipping in a few pointers from one side, despite them getting a home loan when the Beatles were topping the charts.

Then there’s the colleague from accounts telling you how to handle the bank manager (he’s never actually owned a home himself).

And just when you think you’re in safe territory, your local beautician adds, “If I were you darls, I’d get a looong loan. 40 years, maybe 50”. It’s enough to make you fly from the salon, wet hair and all.

Watch out for drop bears

It turns out, two-thirds of Aussies have been given advice from faux-perts – whether they wanted it or not. And plenty of the ‘hot tips’ are right up there with warnings about drop bears and bunyips.

Some of the gems Aussie home buyers have come across range from conspiracy theories – “Don’t apply for your loan online, the government keeps track of every home loan application”, through to the downright suspicious – “Borrow more than you need and then go on a holiday”.

And of course, there’s the occasional mystic faux-pert, who may chime in with: “Put a rabbit’s foot in your pocket and a wishbone in the other pocket for good luck”.

Confusion reigns over deposits

It’s when talk turns to how much deposit you need to buy a home that the faux-perts really swing into action.

Aussie home buyers have heard some real clangers, with recommendations that you don’t need a deposit at all, right through to needing a 50% deposit.

One hapless home buyer was even offered this toe-curling gem: “Get a personal loan for the deposit, just don’t tell the bank”.

Time to leave the land of home loan confusion

All this ear-bashing may be well-meaning. But it’s not coming from home loan experts. And the confusion it creates can just isolate you further from the home of your dreams.

That’s why it pays to talk to your local Aussie Broker.

Your Aussie Broker will skip the mortgage mumbo jumbo and explain the steps you need to take to buy a place of your own. And because your broker works with over 20 different leading lenders*, it’s like having access to thousands of loans in one place.

Go straight to Aussie and you’ll find how easy it can be to navigate the home loan market with an Aussie Broker by your side.

*Not all lenders are available through all brokers.