What is a Financial & Mortgage Broker?
“We Are Here To Serve You”
What is a Financial & Mortgage Broker? Who is it for?
At 1300whatloan we provide an FMB, to ensure you are fully appraised of all the options and structures that are available to you. This service is an ideal first step for clients. It usually takes around two hours, during which time our highly trained Finance & Mortgage Broker will work closely with you to gain an in-depth understanding of exactly how your finances are structured.
What do I get out of a FMB?
The session will:
During this consultation, your specific needs and wants are assessed in line with your proposed asset accumulation or business plan. Any changes to existing or recommendation provided on will include a cost versus benefit analysis.
This will allow you to be fully informed, and able to make a decision on the most appropriate course of action.
About Costs
1300What Loan receives a commission from the lender, this means our personal service provided to you at no additional cost. 1300WhatLoan Services is committed to helping you achieve these goals.
We look forward to the opportunity of helping you choose the right loan for you. Call us today and together we can review your current situation and apply the wealth creating steps that will set you on the right path.
At 1300whatloan we provide an FMB, to ensure you are fully appraised of all the options and structures that are available to you. This service is an ideal first step for clients. It usually takes around two hours, during which time our highly trained Finance & Mortgage Broker will work closely with you to gain an in-depth understanding of exactly how your finances are structured.
What do I get out of a FMB?
The session will:
- Identify where you are today from a financial aspect, in particular your debt and equity
- Identify any problems with your current situation.
- Provide possible solutions for any problems.
- Find the right loan the wrong loan or products could you hundreds of dollars extra.
- Show a way to save money with your current situation.
- Calculate your borrowings and repayments
- Explain (LMI) Lenders Mortgage Insurance
- Discuss your insurance needs
- Enable you to create a detailed plan of action for future wealth creation, asset accumulation and asset protection.
- Most Important Answer any of your questions
During this consultation, your specific needs and wants are assessed in line with your proposed asset accumulation or business plan. Any changes to existing or recommendation provided on will include a cost versus benefit analysis.
This will allow you to be fully informed, and able to make a decision on the most appropriate course of action.
About Costs
1300What Loan receives a commission from the lender, this means our personal service provided to you at no additional cost. 1300WhatLoan Services is committed to helping you achieve these goals.
We look forward to the opportunity of helping you choose the right loan for you. Call us today and together we can review your current situation and apply the wealth creating steps that will set you on the right path.
Who is better? The Bank Or The Broker
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File Size: | 87 kb |
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6 Reasons to Use a Broker
1. Choice
2. Ease of Use
3. Commitment (of the broker)
4. Rate
5. Product niches
6. The ability to place the hard-to-house home loan
2. Ease of Use
3. Commitment (of the broker)
4. Rate
5. Product niches
6. The ability to place the hard-to-house home loan
Six Reasons to Use a Mortgage Broker
The growth of home loans arranged through mortgage brokers has increased greatly of late – Australia is rapidly catching up on the US and UK in its use of brokers. In fact, around half of all home loans are now arranged by a mortgage broker.
Here are six reasons why people are using brokers, when they could go to their own bank and get a perfectly good deal.
1. Choice
Through a broker, homeowners have access to a much wider range of home loan options than if they went to their local branch. This is because most brokers have access to a panel of around 20 lenders. These lenders range from the Big Four, interstate lenders (such as St George Bank or Adelaide Bank), well known lenders who only go through brokers (AMP & Macquarie) and specialist in-house lenders.
2. Ease of Use
If work commitments make it hard for you to find time to get to a bank for a home loan, a broker could well be the answer. Many brokers are prepared to visit clients at home out-of-hours and weekends.
3. Commitment (of the broker)
Most brokers get paid commissions for arranging a loan. This means that they are committed to sorting out your finance. Your home loan application is more likely to go all the way with a broker than when you approach a relatively junior home loan manager in a branch whose hip pocket is not directly affected whether you are approved or declined.
4. Rate
Good brokers know which banks are hungriest for business. Chances are that, if you went to your branch, you would pretty-much be offered a take-it-or-leave-it deal. Brokers can shop around to get you the best rate and have access to banks’ ‘pricing teams.’ With these teams, brokers can negotiate a sharp rate for you.
5. Product niches
Not all banks are the same. For example, NAB won’t lend of a property which is subject to Company Title and ANZ won’t lend more than 90 per cent of the value of a property if you have not had a credit facility with them for more than six months.
Good brokers know the relative niches of each bank and are able to place customers where they are most likely to get approval.
6. The ability to place the hard-to-house home loan
Lo-Doc loans are still used; often by people who have not filed tax returns or whose credit history is imperfect. There are specialist lenders, such as Pepper and Liberty, who offer competitive products for these clients. These lenders concentrate much of their effort in going through brokers.
The banks are neutral on who brings them the business; it could be a broker who gets paid a commission, or it could be an in-house loan manager who gets paid a salary.
Either way, brokers can access loans that are at least as good as anything from a bank branch. Often they are better than what a branch can offer.
Disclaimer: This article contains general information. Before you make any financial or investment decision you should seek professional advice to take into account your individual objectives, financial situation and individual needs.
The growth of home loans arranged through mortgage brokers has increased greatly of late – Australia is rapidly catching up on the US and UK in its use of brokers. In fact, around half of all home loans are now arranged by a mortgage broker.
Here are six reasons why people are using brokers, when they could go to their own bank and get a perfectly good deal.
1. Choice
Through a broker, homeowners have access to a much wider range of home loan options than if they went to their local branch. This is because most brokers have access to a panel of around 20 lenders. These lenders range from the Big Four, interstate lenders (such as St George Bank or Adelaide Bank), well known lenders who only go through brokers (AMP & Macquarie) and specialist in-house lenders.
2. Ease of Use
If work commitments make it hard for you to find time to get to a bank for a home loan, a broker could well be the answer. Many brokers are prepared to visit clients at home out-of-hours and weekends.
3. Commitment (of the broker)
Most brokers get paid commissions for arranging a loan. This means that they are committed to sorting out your finance. Your home loan application is more likely to go all the way with a broker than when you approach a relatively junior home loan manager in a branch whose hip pocket is not directly affected whether you are approved or declined.
4. Rate
Good brokers know which banks are hungriest for business. Chances are that, if you went to your branch, you would pretty-much be offered a take-it-or-leave-it deal. Brokers can shop around to get you the best rate and have access to banks’ ‘pricing teams.’ With these teams, brokers can negotiate a sharp rate for you.
5. Product niches
Not all banks are the same. For example, NAB won’t lend of a property which is subject to Company Title and ANZ won’t lend more than 90 per cent of the value of a property if you have not had a credit facility with them for more than six months.
Good brokers know the relative niches of each bank and are able to place customers where they are most likely to get approval.
6. The ability to place the hard-to-house home loan
Lo-Doc loans are still used; often by people who have not filed tax returns or whose credit history is imperfect. There are specialist lenders, such as Pepper and Liberty, who offer competitive products for these clients. These lenders concentrate much of their effort in going through brokers.
The banks are neutral on who brings them the business; it could be a broker who gets paid a commission, or it could be an in-house loan manager who gets paid a salary.
Either way, brokers can access loans that are at least as good as anything from a bank branch. Often they are better than what a branch can offer.
Disclaimer: This article contains general information. Before you make any financial or investment decision you should seek professional advice to take into account your individual objectives, financial situation and individual needs.
Borrowers Guide to Lending
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File Size: | 2995 kb |
File Type: |
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Borrowers Guide to Construction Loans
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If the seemingly endless array of mortgage products on offer has left you feeling a little dizzy, don't despair.
Use this Mortgage guide to help you navigate ...
Use this Mortgage guide to help you navigate ...
5 Tips To Set Up Your Home Loan
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File Size: | 26 kb |
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Property Types
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How to Break Out or Prepay your Fixed Rate Home Loan?
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Financing Your Investment Property
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What is Lenders Mortgage Insurance?
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6 Steps Buyers Guide To Purchase A Property
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The Loan Application Process
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Documents Checklist
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Do you know what you are spending your money on?
Plan to get you expenses under control by using this comprehensive budget
Plan to get you expenses under control by using this comprehensive budget
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File Size: | 187 kb |
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Mortgage Stress Tips Mortgage Stress Tips
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File Size: | 32 kb |
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View Our Credit Guide
When was the last time you looked closely at your loan?
How is the progress you are making on paying it off ?
How does it compares to others in the market?
Analysing your mortgage could mean savings hundreds of dollars, as well as the opportunity to pay it off more quickly and reach mortgage freedom sooner.
If you think your current loan no longer matches your situation, speak to me now.
I will be able to find the right home loan product for you, at a competitive rate .
I will be able to provide details and make sure you have a loan that lets you pay down your balance sooner.
www.1300whatloan.com.au
[email protected]
How is the progress you are making on paying it off ?
How does it compares to others in the market?
Analysing your mortgage could mean savings hundreds of dollars, as well as the opportunity to pay it off more quickly and reach mortgage freedom sooner.
- Make extra payments, even $ 10.00 extra make a difference.
- Make fortnight repayments instead of monthly.
- Don’t decrease repayments when interest rates fall.
- Use an Offset account.
- Know your home loan fees and minimize them where possible.
- Review your mortgage regular, at least every 2 years.
- Find a better deal and refinance.
If you think your current loan no longer matches your situation, speak to me now.
I will be able to find the right home loan product for you, at a competitive rate .
I will be able to provide details and make sure you have a loan that lets you pay down your balance sooner.
www.1300whatloan.com.au
[email protected]
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