What is a Mortgage Broker?
With hundreds of loans out there offered by multiple financial institutions, it can be incredibly time consuming to find the right home loan for your specific needs. A Mortgage Broker is an adviser who specializes in helping people finding a home loan. They help you all the way through the application process and are able provide valuable advice through their experience and professional network.
As a Mortgage Broker, Auspac Finance Can
Determine your borrowing capacity so you know what property you can afford to buy
Search the loan market for the most suitable finance products for your needs
Access a variety of different lenders
Compare all available products and understand the differences and the benefits of each product that meets your needs and borrowing criteria
Select a finance product and then assist you with your loan application
Submit a successful application the first time—we know what each lender requires, what documents you need and what it takes to get your application approved
Save you time, hassle and money
Progress through every step of your buying journey smoothly from pre-approval, to formal approval, settlement and beyond
Answer all your questions
Cover all your bases. We do all the leg work for you
Help you with other needs like car loans or insurance
Check that your interest rate is still competitive, on any kind of loan
As a Mortgage broker, we Strive to Be
Mortgage brokers are qualified, educated home loan experts. We work with you to determine your borrowing needs and how much you can borrow.
A mortgage broker will always put your interests first. We will help to ensure you don’t take out a loan that’s beyond your means. You’ll find we provide amazing customer service and we’re in it for the long-term. Mortgage brokers love to help their customers build wealth for the future
When you enlist the services of a mortgage broker, you’re dealing with a loan and credit advice specialist. We know the industry, lender policies and products—and how they will apply in your circumstances and financial situation. We do all the legwork for you.
Focused on choice
Mortgage brokers have access to a wider variety of loan choices than your local bank. That’s because a bank can only offer you their own loan products, but brokers can choose from a wide variety of lenders. This means your broker has more capacity to help you find a loan that’s just right for you.
How are mortgage brokers regulated?
Responsible lending laws ensure brokers have as much responsibility as lenders to keep the borrower’s best interests front of mind when providing credit advice. Across Australia, brokers are governed by the National Consumer Credit Protection Act 2009 (NCCP). Brokers must also have a credit license authorised by ASIC, or act as a Credit Representative under a license holder, and must undergo ongoing training and development, every year.
Mortgage brokers are regulated and supervised by the Australian Securities and Investments Commission (ASIC), an independent government organisation which works to keep Australia’s financial markets fair and transparent. If you want a better understanding of your rights when dealing with a broker, just chat to us. We are happy to answer all your questions and help you feel confident and comfortable on the journey.
How are mortgage brokers paid?
Most brokers do not charge a fee for service as we are paid a commission by the lender. However, if a broker intends to charge you a fee, we must provide you with a document up front which details what services you will receive in return for the fee.