The benefits of using an independent mortgage broker

When it comes to finding the best home loan to suit your individual needs and financial circumstances, you generally have two options. You can do all the research yourself or you can get professional help from an independent mortgage broker. Here we look at the reasons why it pays to consider getting help from an independent mortgage broker.

DOMDocument::loadXML(): Start tag expected, '<' not found in Entity, line: 2

Looking for a great value home loan with super fast approval?

Get Pre-Approval online & get a response in minutes with MyRate.

Why use an independent mortgage broker?

Using an independent mortgage broker to help you find the best home loan for your personal situation will save you time and perhaps even money. Independent mortgage brokers can provide you with advice on home loan products from a wide range of home lenders. Independent mortgage brokers are not tied to any particular home loan provider. For the home buyer, this means that by using an independent mortgage broker, you will have the option to consider home loan products from the different providers.

How are independent mortgage brokers paid?

While some mortgage brokers may ask for a fee for the service they provide to you, most will be paid through a commission they receive on any home loan product they provide. This is usually a percentage of the amount of the home loan. Your mortgage broker should disclose the commissions they receive for any home loan that you consider. If they do not, simply ask them. The commission will normally be received by the mortgage broker upon settlement of the home loan.

If a mortgage broker charges an up front fee for any service they will provide to you, then perhaps you should shop around for another independent mortgage broker. In fact, in states including NSW, ACT, Victoria and WA, it is illegal for a mortgage broker to charge an upfront fee.

Finding an independent mortgage broker

Independent mortgage brokers can be found in most suburbs and regional areas. When searching for a mortgage broker, ask family, friends, colleagues and other professionals for any recommendations they may have. Before choosing a mortgage broker, check their website. Is it professional or is nothing more than a promotion or sales page? The website should include information about the range of home lenders the independent mortgage broker deals with.

You can find an independent mortgage broker in your area by visiting the Mortgage Industry Association of Australia website at www.miaa.com.au.

Alternatively, you can find one of our mortgage broker partners on our home loan resources page.

Online mortgage brokers

Online mortgage brokers offer the benefits of a professional independent mortgage broker with the convenience of the internet. Online mortgage brokers allow you to search for the right loan and you can even apply online.

DOMDocument::loadXML(): Start tag expected, '<' not found in Entity, line: 2

Digg this Post page to del.icio.us Post page to Furl

Independent mortgage brokers reviewed How to choose the right home loan broker

Home Loan Info.com.au

Home Loans Australia

Refinancing Information

Home Loan Information

Mortgage Broker Information

Featured Home Loan Information

Introductory home loans offer highly competitive interest rates - But whats the catch?

With the intense competition in Australia's home loan market today, home mortgage lenders are working harder and harder to capture our attention in order to win our business. One of the ways in which mortgage lenders attract our attention is by offering introductory loans with low interest rates for a period of usually between three and 12 months. Here we take a look at the introductory home loan detailing the benefits & pit falls of such an offer.

Mortgage brokers in Australia

Mortgage broking in Australia has boomed over the past decade with the growth in more competitive and more complex home loan options. Mortgage brokers in Australia provide a valuable service to many home buyers who do not have the time or means to fully research their home loan options by themselves and employing the help of an expert in the field can be beneficial. Here we provide an overview of the mortgage broker industry in Australia as it becomes increasingly important to consumers.

Investment loans reviewed How to choose the right loan for your purpose

If you want to invest in property in Australia, then you will most likely apply for a property investment loan from one of the home lenders. In the past, investment loans used to purchase investment properties charged a slightly higher interest rate than home loans for owner occupiers. However, with increased competition in the home loan market in Australia, you can now find an investment loan for a property with the same low interest rate available to owner occupiers. Here we look at investment loans for property investors.

First home buyer's loans reviewed - Getting into the property market

The increasing cost of real estate across Australia is making it increasingly difficult for first home buyers to get into the property market. With this in mind, home lenders have come up with more innovative loan options in order to help first home buyers get into the property market. Here we look at some of the first home buyer loans available today that are helping more Australians get into their first home.

How to become a mortgage broker

So, you want to become a mortgage broker. Before you can start, there are some requirements you will need to meet. Here we provide information on how to start your career as a mortgage broker including mortgage broker training requirements, courses available and ASIC requirements.