A mortgage broker is worth his weight in gold I recently decided to refinance my home loan and my investment loan and it was suggested to me that there was little need for a mortgage broker because it was easier enough to go direct to a bank and apply for a loan. I thought that I would speak with my own bank. The first frustration was I could not actually contact my branch direct. I had to

I read an article recently that suggested that borrowers who use a mortgage broker pay more for their loan than if they go direct to the bank. It is extraordinary when this sort of poorly researched misinformation is published in a magazine.

I have been involved ion the mortgage industry in Australia for over 25 years and during that time I have seen the growth of the mortgage broker market.

First home buyers, investors and those looking to upgrade their property by way of home improvements or the purchase of a bigger home are all in a better position to do so than they were some six months ago when home finance interest rates were looking like hitting 10% p.a. In mid-2008 the Reserve Bank of Australia was lifting interest rates to curb inflation knowing that an increase in the

There are not too many benefits coming out of the world wide credit crisis, but one at least, is the reducing home finance interest rates that we are now experiencing in Australia. Home finance is becoming more affordable as the Reserve Bank of Australia (RBA) drops interest rates. In October interest rates reduced by 1% p.a and then in November they reduced again by a further 0.75%. While the

The world economic global crisis has had a huge and negative impact on the car finance industry in Australia because the major suppliers of car finance here have recently withdrawn from the car finance market. GE Money and GMAC who are believed to have had at least 60% of the car finance market in Australia have suddenly withdrawn from this market. While GE Money has continued to play in the

If you are in the market for home finance then the best bet is to speak with a mortgage broker who will have access to a wide range of home finance product and will be in a position to recommend the right home finance for you. Once an experienced mortgage broker has discussed your home finance needs with you and ascertains whether you prefer home finance with all the “bells and whistles” or

What is happening in the mortgage broker space in the Australian finance market? With the global credit crisis continuing, the face of the home finance sector of the market is changing. Until recently Australians enjoyed sound competition between the banks, credit unions and non-bank sector. Because of the myriad of home finance packages and investment loans available a role developed for the

During the 1990s there was huge growth in the number of mortgage brokers providing services to borrowers looking to purchase, refinance or endeavouring debt consolidation. This came about because of a number of factors prior to this time

1. the choice of mortgages available to borrowers was pretty limited. You didn’t really need a mortgage broker if the decision was simply whether to take an

I am an Australian citizen based in the UK and have been looking to purchase a property in Australia in anticipation of my returning home over the next few years. I had initially thought I would apply to my own bank but after speaking with an expatriate friend who recommended I seek the services of a mortgage broker, I did exactly that.

I asked my buddy what one should look out for when

While the banks have been trying hard to undermine the role of a mortgage broker in the new home loan application process, there is no doubt that borrowers who utilise the services of a mortgage broker are much better informed and invariably obtain a home loan that is better suited to their needs.

If a home loan borrower approaches their own bank for a home loan one would hope that the bank