Broker Activities

Most people go to mortgage pools to get access to a greater range of mortgage options, for better service and for the mortgage broker's ability to negotiate with lenders. A mortgage broker offers loans from a panel of financial institutions, including banks and non-banks. In Australia now, there are literally hundreds of lenders with many, many more options than was traditionally available in the past and competition amongst lenders for customers is fierce with new home loan products available every day. Using a mortgage broker is now an essential part of scouring the market for the right home loan. In simple terms, brokers evaluate your situation against the 20 or 30 lenders on their panel for the best deal.

banks and lenders have changed

In Australia, along with the well known banks and lenders there are now a whole range of specialist lenders offering increasingly competitive products to first home buyers, self employed and business people, retirees, new Australians and immigrants, previous bankrupts and people with a bad or poor credit history. One of the great advantages of using a good mortgage broker is that they have access to many of these lenders and their products.