Mortgage brokers are professionals in the home loan industry. They work with you to determine your finance needs and help you understand how much you can borrow. Brokers help to ensure that you don’t take out a loan that is not right for your financial circumstances or needs. Professional mortgage brokers only focus on loans. If you need
Some mortgage brokers charge a fee and some don’t. When you take out a loan via a Mortgage Broker – it does not cost you more. That is an absolute myth. Brokers get paid commission by the bank for bringing new business to them, this does not impact your rate or level of service. Some brokers
Our team are experienced and motivated lending professionals. We take a long-term approach, considering your goals before connecting you with the right loan for your circumstances. You will also have our support throughout the home-buying process, right up until the day you get the keys. Beyond facilitating loans, we are now proud to provide extended services
The truth is that there is very little difference between the commissions paid by the lenders. You can also rest assured that your interests in this respect are covered by law. The mortgage and finance broking industry has legislation called the National Consumer Credit Protection Act (or NCCP), that is designed to protect consumers and ensure
Some Brokers charge a fee for their service which they must disclose to you up-front before you engage their services. However, the costs of the loan are the same, depending on the loan you choose.
This depends on how much you have saved for a deposit and what you current expenses are. Give us a call and we can go into your options in more detail, or check out the loan calculator page of our site. Use our calculators here
A mortgage broker is only allowed to recommend a product based on what you say is most important to you – for example, “pay my loan off quickly” or “guaranteed repayments”. With regard to interest rates, however, we recommend the following; “if you want flexibility, take a variable rate loan. if you want repayment certainty. take
Xcellerate are Connective Brokers. This means we have access to many lenders – these include the major banks, second tier lenders and credit unions. We can source you a loan from the lender of your choice.
The Reserve Bank of Australia meet on the first Tuesday of every month to determine the official cash rate for the country. The lenders then use this information to set their own rates. Mortgage brokers do not set interest rates.
When we talk about a ‘loan product’ we are referring to the thousands of options that are currently available for you for your loan. Each bank (or lender) has loads of different loan options – low doc, package loans, redraw facilities, plant and equipment loans, fixed, interest only, interested in advance, variable, introductory variable… the