Why Use A Mortgage Broker?

An experienced broker could help you save time, money and confusion.

Young couple shaking hands with mortgage broker

What is a Mortgage Broker?

Did you know more than 70% of Australians put their trust in a mortgage broker to secure their home loan?

A mortgage broker works as an intermediary connecting borrowers with home loan products from banks and lenders.

Mortgage brokers have access to a wide range of mortgage products from numerous banks and lending institutions. They understand each lender’s home loan products, lending policies, and procedures.

A qualified, knowledgeable, and experienced broker will help you navigate the home loan market to ensure you get the best mortgage package for what is likely to be your largest-ever financial transaction.

A good mortgage broker will:

  • Understand your financial needs and long-term goals
  • Determine how much loan you can afford to borrow and repay
  • Establish the best option that suits your financial situation
  • Explain how each home loan works and what each loan costs including the interest rates, fees, and features
  • Apply for the loan and manage each step of the process through to settlement

Specialist Mortgage can quickly assess your personal situation and present the most suitable mortgage solutions to best meet your financial needs and objectives, by comparing hundreds of home loan options.

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What qualifications does a Mortgage Broker have?

All Specialist Mortgage’ brokers are fully qualified. Our staff operate under our ASIC Australian Credit License and all our mortgage brokers are members of the Mortgage & Finance Association of Australia (MFAA).

Mortgage brokers have a statutory duty to comply with “responsible lending” and “best interest” obligations when providing advice and recommending loan products.

The mortgage broking industry is heavily regulated by the Australian Securities and Investments Commission (ASIC).

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Porch of weatherboard residential house in a Australian suburb. Pedestrian sidewalk in a quiet neighbourhood. Melbourne, VIC Australia

What does a Mortgage Broker Cost?

Generally speaking, a mortgage broker doesn’t cost you anything.

A mortgage broker is paid a commission or fee by the bank or lending institute for securing a new home loan.

In some special circumstances, a mortgage broker may charge the client a fee. This would be discussed prior to the client engaging the services of a broker.

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Will I Get A Home Loan Quicker Through A Mortgage Broker?

You will most certainly secure the best home loan package faster if you work with a mortgage broker compared to doing it yourself. They have access to leading industry technology and understand the complex mortgage landscape.

Keep in mind you will be more attractive to lenders and might get a preferential rate if you have a healthy deposit, a steady income and a good credit rating.

A mortgage broker will really benefit clients who do not fit the traditional lending model or present a complex scenario. This might include clients who live overseas, who are self-employed or have irregular income, or clients with a small deposit or a history of bad credit.

Often people use a Mortgage Broker to get the most competitive home loan in the fastest time.

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Free annual home loan reviews.

Yes please!

We have a team solely dedicated to annual client home loan reviews.

If there is a more suitable home loan that could put money in your pocket rather than the banks, we will inform you!

If there is an opportunity to negotiate a better deal with your current lender then we will pursue it!

Conversely if your circumstances change, we can review your current situation and find alternative options for refinancing or renegotiating to suit your situation.

Get A Free Review.

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Benefits of using a Mortgage Broker

Best loan, lowest rate.

Mortgage brokers have access to a broad range of loan products and lenders, including those that may not be readily accessible to the public. They recommend loans that best match your needs, circumstances, and goals. A more structured loan could save you thousands in the long term.

Expert Knowledge.

Qualified mortgage brokers have a deep understanding of the home loan market, lenders’ policies and procedures, and who is offering the most competitive rates and features in the current market.

Time And Effort Savings.

Researching and comparing different loan products can be time-consuming and complex. A mortgage broker does all the legwork for you by researching various loan options, handling all the paperwork, and negotiating with lenders on your behalf.

Tailored Advice.

Mortgage brokers can offer personalised advice based on your financial situation and goals. They can help you understand the various loan options available and explain the features and benefits. They can guide you towards making an informed decision so that you can achieve your goals sooner.

Competitive Loan Options.

Mortgage brokers use industry technology to compare many home loan options from a variety of banks and lenders. Brokers can often secure better loan terms, rates, and fees than if you were to approach the lender directly.

Home Loan Pre-Approval.

Mortgage brokers will provide you with home loan recommendations. They will explain the benefits and pitfalls, features, fees and repayments of each product. They will do this before you apply for mortgage pre-approval. Once pre-approved you can be confident of your house budget.

Home Loan Process Help.

Mortgage brokers will walk you through each step of the home loan process, including serviceability, recommendations, loan application, searching for a home, and the buying process right through to settlement.

Complex Situations.

If you are an expat, non-resident, are self-employed, have seasonal income or a less-than-perfect credit, you may be faced with limited mortgage options. A mortgage broker may be able to find lenders more willing to provide you with home loans at a good rate with favourable terms.

Experts In Australian Finance, Located Worldwide.

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Get a free mortgage assessment.

Let us know your situation and one of our brokers may be able to provide a better mortgage solution.

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Book a free online consultation.

Book a time to chat through your options with one of our friendly mortgage brokers.

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Find Your Local Office.

Discover which one of our global offices is best to have a chat face to face about your home loan objectives.