Sunday, March 20, 2005

Finding a Mortgage Broker in Australia

The Easiest and Best way to Obtain a Home Loan

In Australia, a Mortgage Broker is becoming the first port of call when seeking a loan. Mortgage Brokers started to become an alternative to Bank finance about 15 years ago. They now write about 30% of Australia's Mortgages and nationally there are about 2000 mortgage broking businesses.

Mortgage Brokers look at borrowers requirements and then match them to a lender that has the best deal on a loan product that matches as closely as possible those requirements. Normally this service is free to the borrower as the lender pays a commission to the mortgage broker.

Australian Banks, Credit Unions, non-bank lenders and Building Societies all use mortgage brokers to market their loans as it is cheaper than maintaining their own staff and facilities.

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