What Do Mortgage Brokers Do?

  • Mortgage brokers offer a service (often a free service) where they can help you find a home, investment or commercial loan.
  • Most brokers have lender accreditation's with between 5 and 40 lenders. Most of these lenders include the major banks and many second tier banks, building societies, mortgage managers and credit unions.
  • A mortgage brokers service goes well beyond finding you the cheapest loan.
  • Find a mortgage that is best suited to your lending needs.
  • Prevent you from making common mortgage mistakes.
  • Compare interest rates, fees and lender policy with multiple lenders.
  • Help negotiate better terms and interest rates.
  • Show you how to structure your loan to pay your mortgage quicker or taxation benefits.
  • Come visit you in you home or office after hours if convenient.
  • Handle all the paper work and submit the loan to the lender and keep you regularly updated.
  • Offer ongoing support and yearly loan reviews.
  • Most Mortgage Brokers are members of Mortgage and Finance Association of Australia (MFAA) or the Finance Brokers Association of Australia (FBAA). MFAA and FBAA members need to achieved a set education and experience level as part of their membership criteria, abide by a strict Code of Practice, and must be a member of the Mortgage Industry Ombudsmen Service.

Contact a Mortgage Broker