Using a broker gives you
Brokers are qualified Finance industry professionals. They work with you to determine your borrowing needs and objectives and to help you determine how much you can borrow and which loan product is right for you.
You can expect a more personalised level of service with a broker than you would usually receive directly from a lender. Additionally, our expert brokers have access to finance products from a wide variety of lenders, which means your broker can compare lending products from different lenders to find a loan that’s right for you.
When you take out a loan via a broker, it does not cost you more in loan repayments or fees. Brokers get paid a commission by the lender for bringing new business to them, but this does not impact your interest rate or loan costs.
Never. There is legislation in our industry called the National Consumer Credit Protection Act (or NCCP). This legislation protects consumers and ensures ethical and professional standards in the finance industry. We tell you upfront what commission we will be getting from the lender. Our role is to find the best loan for your needs and objectives.
No, there is no cost to you for using a broker. The lender pays your broker. Your broker has access to hundreds of loan products from many lenders and will source the best loan for you and your circumstances. In most cases, this will be a combination of the best rate and the most convenient product features for you.
Some brokers charge a fee for their service, which they must disclose to you up-front before engaging their services.
There are specific factors to be considered when determining how much you can borrow, such as income, employment position, deposit saved, current living expenses, and liabilities.
Our borrowing calculator can give you a rough idea of how much you may be able to borrow. For a more accurate assessment, please give us a call to work through your options and discuss your circumstances in more detail.
Variable-rate home loans tend to be more flexible, with more features (e.g. redraw facility, ability to make extra payments) but not fixed repayment amounts. Fixed-rate home loans typically do not have as much flexibility but have predictable repayment amounts over the fixed term.
A broker will recommend a product based on what you say is most important to you.
Yes, we work Australia-wide.
As Connective Brokers, we have access to over 50 lenders, which means we can source loan options from multiple lenders to provide you with various suitable options for you and your situation.
Brokers do not set rates. The Reserve Bank of Australia meets 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 rates according to their costs and other economic considerations.
If you go direct to the bank, you will only be offered the loan options available through that one lender. As your broker, we do all the leg work to find the right loan for your needs. We have access to many lenders and all of their loan products, and our sole purpose is to find a suitable loan to match your financial circumstances and goals.