Why should I use a mortgage broker if I can go with a bank?

Currently >50% of Australian Home loans are done through a Mortgage Broker.

Mortgage Brokers have access to special pricing discretions through banks and lenders. Using a mortgage broker is a low cost channel for a bank. This is often why a person is able to achieve a stronger rate via a broker than through a branch.

A branch makes more money if the client has a higher interest rate.

A Mortgage Broker’s commission is independent of the client’s interest rate.

What does a mortgage broker do?

A Mortgage Broker works closely with you to determine your needs. With a strong knowledge of banking processes and policies a broker is then able to determine which lender and product is most suitable for your needs.

We then prepare and submit an application on your behalf to the lender. We work with the bank to ensure your loans and accounts are set up just the way you want them.

Do you charge a fee for your service?

No. We do not charge a fee.

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?

No. A successful business is built on putting the client’s needs first. Our job is to find the best loan for your needs and serviceability. We tell you upfront what commission we will be getting from the bank.

We are governed by ASIC (Australian Security and Investment Commission) via the NCCP Act (National Consumer Credit Protection Act). This is legislated to protect consumers and ensure ethical and professional standards in the finance industry.

How much can I borrow?

This is dependent on several factors including; income, expenses and security. Give us a call and we can go into your options in more detail, or check out the loan calculator page of our site.

Should I go fixed or variable?

We are only allowed to recommend a product based on what you say is most important to you – for example, “pay my loan off quickly” or “guaranteed repayments”. We cannot determine which loan is right for you without a full understanding of your financial circumstances.

I am not in your area, can we still work together?

Yes. We can work remotely or can come to you.

Which lenders do you deal with?

I am a Connective Broker. This means that I have access to many lenders – these include the major banks, second tier lenders and credit unions. We can source you a loan from the lender of your choice.

Who sets interest rates?

The Reserve Bank of Australia meet on the first Tuesday every month to determine the official cash rate for the country. The lenders then use this information to set their own rates. Mortgage brokers do not set rates.