How to find a good mortgage broker

A good broker is someone who should have the best interest of all your funding needs at heart. Showing you what home finance is available, helping you choose the right home loan, getting it approved, settled and staying in touch afterwards, and then monitoring both your changing circumstances along with interest rates and economic influences. And any time you need it, a Loan Market broker can also organise your personal loans, car loans or leasing and if you have them, business loans and leasing.

Arrange a personal home loan assessment with your local mortgage broker

Arrange a personal home loan assessment with your local mortgage broker to find the home loan that is in your best interest. Simply fill in the form below or call us any time on 13 LOAN (+61 2 9249 3739).

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Finding a good mortgage broker

• Does the broker belong to a reputable industry association? Is the broker independent or do they only deal with a certain lender?
  Do they offer a wide range of loans from a variety of independent lenders?
• Has the broker disclosed all fees and commissions prior to signing up (as a guide, the fee should not be any larger than 1.5 – 2 per cent of the loan amount)?
• Can the broker justify their recommendations? Be aware that brokers receiving commissions or kickbacks from lenders may recommend the loan that gives them the biggest commission.
• What qualifications/courses has the broker undertaken – some lending institutions will only allow accredited mortgage brokers to sell their product and accreditation is achieved by completing a training course on their products?
• Do you know exactly what you are agreeing to when you sign up? Some brokers require you to pay them if they successfully obtain an offer of finance – even if the interest rate and conditions on the loan found by the broker do not suit your needs.
• Does the broker expect an upfront fee? Reputable brokers do not.
• Is the broker a lender as well as a broker? This may affect their recommendations.
• Does the institution have a dispute resolution system in place? Do they have professional indemnity insurance? Can you have a copy of the application and any financial details they send to the lender on your behalf?
• What happens with your personal information – is it kept in a secure place or is it accessible to anyone during the process and what happens to it after the loan is granted?
• Will you be comfortable if brokers come to your home? Some brokers are trained to exploit your politeness to improve their chances of a sale.

Mortgage Brokers in Australia

• Australian Capital Territory
• New South Wales
• Northern Territory
• Queensland
• South Australia
• Tasmania
• Victoria
• Western Australia