Why use a Mortgage Broker
Find out why using a mortgage broker may suit your individual needs. 1 out of 3 Australians already do.
Mortgage Brokers provide consumers with:
- Choice
- Convenience
- Professionalism
As a consumer wades through the complex home loan process, a mortgage broker can be your expert mentor. A mortgage broker offers customers extensive choices while balancing their financial interests and goals.
Some brokers may offer to visit you at your home after hours, or on the weekend. This service may be convenient and suit your needs.
Even if you have had a troubled credit history or your financial situation is too unusual for mainstream lenders, a broker may still be able to assist you.
Ask your Mortgage Broker Questions
With the large and varied home loan options available these days it is important to ask your mortgage broker some specific questions regarding which lender you will be using, the type of home loan they've selected and how much you will be paying, so you don't get any nasty surprises.
Are They a Member of the MFAA?
All mortgage brokers listed on MortgageBroker.com.au must be a member of the MFAA. As a member of the MFAA they must subscribe to a Code of Practice.
What Industry Experience and Qualifications Does Your Mortgage Broker Have?
Don’t be afraid to ask how long your mortgage broker has been working in the industry or what their relevant qualifications are.
How are Mortgage Brokers Paid?
Mortgage brokers are required by law throughout Australia to disclose the commissions they receive. As a MFAA member , they are required under the Code of Practice to disclose this information. (Remember there may be also relevant government and lenders fees payable).
Important Questions to Ask to Ensure the Home Loan your Mortgage Broker Has Selected is Suitable
:
- What percentage of the property value can I borrow?
- Do I have to pay lenders mortgage insurance?
- What are the types of home loans that are available?
- Which home loan will suit my immediate and future needs?
- Which home loans offer the best variable/fixed interest rate?