Can mortgage brokers get me a better deal?
A mortgage broker may be able to use their negotiating power to find you a more competitive rate than you are offered by the bank.
Does a mortgage broker need to be licensed?
Yes. It is illegal to operate as a mortgage broker in Australia without a licence.
How are mortgage brokers paid?
Usually a mortgage broker is paid a commission from the lender the loan is offered by. Sometimes, the borrower is required to pay a fee.
What does a mortgage broker do?
Mortgage brokers negotiate loans between borrowers and lenders, researching the most suitable deals for each customers circumstances.