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WHAT DOES A MORTGAGE / FINANCE BROKER DO?

Mortgage / Finance brokers are qualified finance industry professionals. They work with you to determine your borrowing needs and objectives, and financial goals. Like your solicitor, accountant or financial planner, we are specialists in what we do. With a broker, you can expect a more personalised level of service. Additionally, our brokers have access to finance products from a wide variety of lenders. This means your broker can compare lending products from different lenders to find a loan that is right for you.

DO YOU CHARGE FEES AS A MORTGAGE / FINANCE BROKER?

Some brokers charge a fee for their service and some don’t. Here at Azzopardi Finance, we will not charge a fee to engage our services. Brokers get paid a commission by the lender for bringing new business to them, but this does not impact your interest rate.Some brokers charge a fee for their service. They must disclose this fee upfront to you so that you know what it will cost if you engage their services.

DON’T YOU JUST RECOMMEND THE LENDER WHO PAYS YOU THE MOST COMMISSION?

Absolutely not, there is very little difference between the commissions paid by the various lenders on the panel. There is also legislation in our industry that is designed to protect consumers and ensure ethical and professional standards in the finance industry.

ISN’T IT MORE EXPENSIVE TO USE A BROKER?

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. These costs depend on the loan and lender you choose. If you want to save on loan costs, just tell us. We can locate loan products from the lenders with the lowest fees and charges.

How much can I borrow?

There are specific factors that need to be considered when determining how much a customer can borrow, such as income, employment position, the deposit saved, current living expenses and any liabilities. For an accurate assessment, please get in contact with us and we can go into your options and discuss your circumstances.

SHOULD I GO FIXED OR VARIABLE?

A mortgage broker will recommend a product based on the information you provide and what is most important to you with your lending needs and requirements.

I AM NOT IN YOUR AREA, CAN WE STILL WORK TOGETHER?

Sure thing! We may be based in Bundaberg, QLD; however, we can assist Australia wide.

WHICH LENDERS DO YOU DEAL WITH?

We have access to a vast panel of lenders; this means we can provide you with a variety of options that we can tailor to your needs.

WHO SETS INTEREST RATES?

Mortgage/finance brokers do not set rates. 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. Lenders also adjust their rates according to their costs and other economic considerations.

WHY SHOULD I GO DOWN THE PATH OF A MORTGAGE / FINANCE BROKER OVER A BANK?”

Banks offer their own products, only. Mortgage / Finance Brokers can offer you different options, with access to our broad panel of lenders where we can find a lending solution suited to your needs.

FAQs