Mortgage Brokers are qualified industry professionals who will work with you to understand your objectives and determine your borrowing capacity, providing a selection of loan products that are most suited to your needs. They will provide a more personalised level of service than what is normally given directly from a lender, and with access to a wide variety of finance products from a large range of lenders, they are in a better position to provide a loan product that’s just right for you.
Some brokers charge a fee for their service that they must disclose to you up-front before you engage their services. However, the costs of the loans are the same and depend on the loan and lender you choose. If saving on loan costs is a priority for you, I will factor that in when choosing products for you.
Definitely not. While there is very little difference between the commissions paid by each lender, the legislation in our industry, called the National Consumer Credit Protection Act (NCCP), is designed to protect consumers and ensure ethical and professional standards in the finance industry. We will tell you upfront what commission we will be getting from the lender with our key goal being to find a competitive loan that meets your needs and objectives.