Frequently Asked Questions
“There are no foolish questions and no man becomes a fool until he has stopped asking questions.”
- Charles Proteus Steinmetz
A Mortgage Broker is a qualified finance professional who acts as a go-between with banks or other lenders to arrange a home loan on your behalf. Mortgage Brokers must act in your best interest when recommending a loan to you.
In the ever changing, and increasingly complicated world of residential home loans, more and more time poor clients are turning to industry professionals to provide advice and solutions for their home lending needs. It is our combined 63 years industry experience along with our highly efficient and compliant systems that will allow us to deliver an exemplary experience to every client, every time.
Generally, we do not charge a fee for our service. In most cases we’ll be paid by the lender (with no additional cost to you) in the following ways:-
Initial Payment (Up Front Commission):- When your loan has settled the selected lender will pay us an initial payment as a percentage of the net borrowing. This percentage varies with each lender and includes GST. If the loan is transferred or is paid out within 2 years of the settlement date, the lender may reclaim all or part of these commissions from us.
Ongoing Monthly Payments (Trail income):- The selected lender may also pay an ongoing monthly payment to me as a percentage calculated and paid on the outstanding balance of your loan at the end of each month. The percentage varies with each lender and includes GST.
The initial payment and ongoing monthly payments are NOT reflected in your interest rate or fees.
Regardless of how we are paid by a lender, we’ll be there to help anytime you need us throughout the life of the loan and beyond.
No, even though we are based in Northern Rivers NSW, we have clients all over Australia. We are now able to talk to you via Skype/Zoom etc due to Lender policy changes implemented during Covid so arranging an appointment has never been easier.
We have access to a comprehensive and competitive product range to allow us to provide advice and solutions to our clients that will see us very well placed in the market. Our lender panel includes major banks, building societies and credit unions including retails lenders and specialist non-bank lenders.
Your credit score is an important piece of the puzzle when applying for a Home Loan. Most lenders do a credit check when you apply for a loan and this gets recorded as an enquiry on your credit file. Multiple enquiries could adversely impact your credit score. However, credit checks done by us do not register as an enquiry on your file.That means we can research multiple lenders on your behalf without affecting your credit score.
You have us for life and we are always just a phone call away!! In fact, some of our newest clients are the children of some of our oldest clients we helped into their home over 20 years ago. We conduct an annual review to make sure your loan is still meeting your requirements and to discuss any new financial goals and objectives you may have.
