When it’s time to take out a home loan, you can go straight to your bank or work with a mortgage broker instead. If you’ve never used a broker before, here’s a friendly explanation of what we actually do, and why it tends to make the whole process easier.
You get access to more than one lender
A bank can only offer you its own products, understandably. We work with a panel of lenders, from the major banks through to smaller and non-bank lenders, and we compare their rates, fees and lending criteria to find the options genuinely suited to your situation.
We know how different lenders think
Lenders assess self-employed income, casual work, existing debts and credit history quite differently from one another. Working across many lenders day in, day out gives us a practical feel for who’s likely to look favourably on your particular circumstances, which can help you avoid an unnecessary knock-back on your credit file.
We’re with you for the whole journey, not just the paperwork
A good broker does more than submit an application. That includes walking you through loan structures (like our guide to fixed vs variable rates), coordinating with your conveyancer or solicitor around settlement, and chasing things up if the lender is taking longer than expected.
We keep an eye on your rate over time
Your circumstances change, and so does the market. Many brokers, us included, check in periodically to see whether your current loan is still competitive, and can help you refinance if something better comes along.
Usually, it won’t cost you a thing
Mortgage brokers are typically paid a commission by the lender once your loan settles, rather than charging you directly. That means you get the benefit of comparison and support without an upfront cost, in most standard home loan situations.
If the broker process has felt confusing in the past, or you’re simply weighing up your options, a conversation with us costs nothing and can help you see clearly what’s actually available. Get in touch whenever suits.