What is a Mortgage Broker?
Someone who saves you time researching mortgage products. They should have access to at least twenty different lenders.
Only a Strategic Mortgage Broker will help you to develop a Mortgage Strategy.
Why use a Mortgage Broker?
- Mortgage Brokers have access to exactly the same interest rates, products and fees as a lender direct and the website comparison sites.
- Mortgage Brokers are held to a higher level of compliance by ASIC than employees of lenders and they must provide you with a Credit Proposal
- Once upon a time, there was little choice beyond the major banks. Using a mortgage broker is a vote for choice remaining, and not being taken away.
- A great Mortgage Broker saves you significant time and leg work. They inform and educate you and provide excellent customer service.
- A great Mortgage Broker provides ongoing support and advice.
We overlay this with in depth Mortgage Strategy and Property Planning all supported by our ‘award winning’ Private Banking service.
How do the Lenders derive an income from Mortgage Brokers?
Exactly the same way they do when you take out a loan direct – the earnings from your interest rate, savings and fees.
With loans originated by a mortgage broker, lenders earn this income without paying for marketing, employee salaries and business overheads.
No wonder most lenders, with the exception of the majors, do not have a branch network and ONLY use mortgage brokers – imagine the savings!
How does a Mortgage Broker get paid?
A Mortgage Broker receives a fee from the lender your loan is placed with. A Mortgage Broker can access the same rates and products as when you deal with the lender direct. Half of all mortgages in Australia are originated by Mortgage Brokers.
A Strategic Mortgage Broker does a whole lot more than just find a lender, product and a rate!
How do I find a Mortgage Broker?
You are not looking for an average mortgage broker.
The better question is how do you find a Strategic Mortgage Broker?
You have now found a Strategic Mortgage Broker.