Question 1

What exactly is a mortgage broker?

Accepted Answer

Mortgage brokers arrange home loans between lenders, and borrowers – people who are looking for a home loan.    We shop around for a loan that’s right for you and your circumstances.   We astay up-to-date with constant changes in the home loan market and new products, to match you with the right solution, doing the hard yards for you to get you into the right deal.

Question 2

How does the home loan process actually work?

Accepted Answer

Don't worry, your not alone. Many first home buyers and even seasoned borrowers can feel intimidated when taking out a mortgage.   People often get confused because of the many steps involved, which can make the home loan process longer and more complicated than it should be. The home loan process actually starts well before you apply for a loan and extends well after it settles.   We've helped thousands of Australia's just like you navigate this often daunting process every step of the way.   We pride ourselves making the process as easy and stressfree as possible.

Question 3

Why not just go to a bank?

Accepted Answer

Firstly, it’s hard for most people to choose. Which bank? Which product? What about building societies and credit unions? There is just so much choice.    A mortgage broker will steer you through the complexities to find a loan that suits your needs and not the need of just one particular bank, which will only offer you the loans they provide.    Banks enjoy working with brokers, as we do a lot of the work for them and may help speed up the application process. Put simply, having a broker in your corner makes it easier to find the right loan, saves you time and, hopefully, money.

Question 4

How does a morgage broker get paid?

Accepted Answer

You as a home buyer, don't actually pay a morgage broker. We are paid by the banks for introducing new applications and for doing much of the work that would otherwise be done by one of their staff.   When the broker introduces a client to a particular lender, the lender will pay the broker a commission once the mortgage application has proceeded to settlement and then a small “trail” commission payments while the borrower retains the mortgage with that lender.   We're not paid any different from each bank, so there is no favoritism between lenders and strict regulations ensures our payment process is clear & transprent with you along the way.

Question 5

Will you recommend a suitable loan?

Accepted Answer

It is a common misconception that mortgage brokers recommend unsuitable loans for their clients to try to maximise their incentives.   The reason for this is that prior to the regulation of our industry in 2010 there were a few unscrupulous mortgage brokers which gave the rest of us a bad name.   We recommend several suitable loans for you and then let you decide which one you would like to apply with. In fact, as a holder of an Australian Credit Licence, it is against the law for us to assist you with applying for an unsuitable loan.

Question 6

How does applying for a loan work?

Accepted Answer

Our mortgage brokers do all of the hard work.   All you will be required to do is fill out the application and supply the required documentation. We can then complete a preliminary assessment and give you some options to choose from.   Once we know which lender you would like to proceed with then we lodge the loan online directly into their system for a quick approval.

Question 7

Are you owned by a bank?

Accepted Answer

Nope. We're an indipendant business in Australia, run by a hard working family on the Gold Coast, Queensland.    This makes us complelty unbiased to who we recomend your loan to and to which lender.   This is quite unique, becuase did you know...   Aussie Home Loans is owned by the Commonwealth Bank (CBA).   Mortgage Choice is listed on the Australian Securities Exchange (ASX) and has several banks as shareholders.   Fast, Plan and Choice are owned by Advantedge (a division of NAB).

Question 8

How long does this take?

Accepted Answer

Using our expertise, we can find you the right home loan in less than 24 hours as long as you provide us with all of the required documents in one go.   If you are in a hurry to get approved because you are going to an auction or have a deadline for a cooling off period on your purchase then please let your mortgage broker know and they can escalate your application.   We have great relationships with our lenders, which means we understand how to fast track your loan application.

Question 9

Can you cover every unique situation?

Accepted Answer

Our mortgage brokers love a challenge! We can usually find a solution to even the most complex and difficult situations.  
This is because we have extensive knowledge of policy and know which lenders have flexible lending criteria. If you have been declined by the banks we can help to find other lenders who will approve your home loan.

We make finance quick & easy.

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