Finding a Mortgage Broker
What is a Mortgage Broker?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.
The best place to start your home loan search
The Tomorrow Finance provide a Free Home Loan Quote service for Australian home owners and real estate investors. Ask them for a Free Quote on a Home Loan or Investment Property Loan.
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