We understand that securing a mortgage can be a complex and confusing process,
which is why we have put together this FAQ section to help answer some of the most common questions our clients have.
A mortgage broker is a liaison between clients and lending institutions to achieve a desired financial product such as a residential or commercial property loan.
Mortgage brokers must act in your best interests when suggesting a loan for you.
A good broker works with you to understand your needs and goals.
A good broker works with you to:
Before you see a broker, think about what matters most to you in a home loan. Do you simply want the lowest-cost loan? Do you want specific features, such as being able to make extra repayments? Thinking about this beforehand will make the conversation with your broker easier. Make a list of your:
Check if the broker is licensed to ensure they are legally compliant to give you credit (loan) advice.
Search the following lists on ASIC Connect’s Professional Registers:
To search, choose the list name in the ‘Select Register’ drop-down menu.
Often, lenders pay the broker a fee or commission for selling their products, so you don’t pay the broker anything.
Some brokers get paid a standard fee regardless of what loan they recommend. Other brokers get a higher fee for offering certain loans.
Sometimes, a broker will charge you a fee directly – instead of, or as well as, the lender’s commission.
A mortgage broker is a liaison between clients and lending institutions to achieve a desired financial product such as a residential or commercial property loan.
Mortgage brokers must act in your best interests when suggesting a loan for you.
A good broker works with you to understand your needs and goals.
A good broker works with you to:
Before you see a broker, think about what matters most to you in a home loan. Do you simply want the lowest-cost loan? Do you want specific features, such as being able to make extra repayments? Thinking about this beforehand will make the conversation with your broker easier. Make a list of your:
Check if the broker is licensed to ensure they are legally compliant to give you credit (loan) advice.
Search the following lists on ASIC Connect’s Professional Registers:
To search, choose the list name in the ‘Select Register’ drop-down menu.
Often, lenders pay the broker a fee or commission for selling their products, so you don’t pay the broker anything.
Some brokers get paid a standard fee regardless of what loan they recommend. Other brokers get a higher fee for offering certain loans.
Sometimes, a broker will charge you a fee directly – instead of, or as well as, the lender’s commission.