What does a mortgage broker do?
Mortgage brokers are professionals in the home loan industry. They work with you to determine your finance needs and to help you work out how much you can afford to borrow. Brokers help to ensure that you don’t take out a loan that is not right for your financial circumstances.
Brokers have access to a wide variety of loans. This means your broker can find a loan that’s just right for you.
Do you charge fees for home and investment loans?
Some mortgage brokers charge a fee and some don’t. When you take out a loan via a Mortgage Broker – it does not cost you more. That is an absolute myth. Brokers get paid commission by the bank for bringing new business to them, this does not impact your rate or level of service.
Don’t you just recommend the lender who pays you the most commission?
The mortgage and finance brokering industry has legislation called the National Consumer Credit Protection Act (or NCCP), that is designed to protect consumers and ensure ethical and professional standards in the finance industry. We are required to present you with a selection of suitable loans from different lenders and tell you upfront what commission we will be getting. Our job, our only job, is to find the best loan for your needs and serviceability.
Isn’t it more expensive to use a broker?
How much can I borrow?
Should I go fixed or variable?
I am not in your area, can we still work together?
Which lenders do you deal with?
Who sets interest rates?
Why should I use a mortgage broker if I can go with a bank?
As your mortgage broker, we do all the leg work for you. We are across many lenders and all of their loan products and our sole purpose is to find the right loan for your needs.