Brokers are lending professionals in the bank & finance industry. They work with you to determine your borrowing needs and how much you can borrow. Brokers help ensure you don’t take out a loan that is too big or the wrong product for you.
Professional brokers only focus on loans. If you have a toothache, you go to the dentist not a florist. If your car is broken you take it to a mechanic not a librarian. You go to someone trained to help you with your specific need. It’s same when you need a loan.
Brokers have access to a wide variety of loans. This mean your broker can find a loan is just right for you.
Some mortgage brokers charge a fee and some don’t. WE DON’T! When you take out a loan via a Broker – it does not cost you more. That is an absolute myth. Brokers get paid commission by the bank for bringing new business to them, this does not impact your rate or level of service.
Some brokers charge a fee for their service. They must disclose this fee upfront to you so you know what you will be up for if you engage their services.
Lenders Mortgage Insurance is one of the ways to achieve the dream of home ownership sooner for borrowers that do not have a large deposit in most instance approximately 20%.
Most banks and financial institutions require you to contribute a deposit based on a percentage of the purchase price of your property. With Lenders Mortgage Insurance, lenders may allow you to borrow a higher portion of the purchase price, allowing you to purchase a property sooner and with a smaller deposit than would otherwise be required. Many lending institutes here in Australia will allow clients to borrow between 90 – 95%.
Lenders Mortgage Insurance should not be mistaken for Mortgage Protection Insurance, which covers your mortgage in the event of death, sickness, unemployment or disability. Lenders Mortgage Insurance protects your lender against a loss should you as a borrower default on your home loan. If the security property is required to be sold as a result of the default, the net proceeds of the sale may not always cover the full balance outstanding on the loan. Should this be the case, your lender is entitled to make an insurance claim for the reimbursement of any shortfall.
Our panel of lender consists of major banks, second tier lenders and credit unions. We can source you a loan from the lender of your choice. Our panel consists of approximately 45 home loan lenders and nearly 20 lenders who deal with specialty lending such as personal and business.
We do not have any affiliations with any lenders so we source the most appropriate loan for you.
