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A Broker’s Role in the Loan Process

Updated: Mar 10


A loan broker acts as a middle man between you and the lender, representing your interests and getting the best possible loan suited for your situation. They assist you in making an informed decision by helping you understand your borrowing capacity and the available loan options. While this is the most basic service a mortgage broker provides, a good mortgage broker usually can offer you more, giving you peace of mind through the whole application process.


Organizing loan applications is one of the main ways a broker can demonstrate value and capability. At this stage, they collect information about you through questionnaires and interviews to help you understand your situation at the request of potentially viable lenders. A qualified loan broker should be able to find and recommend the most suitable loan product for you based on your situation and budget.


After understanding your purchasing plans and expectations, a broker will conduct an initial assessment of your financial situation by reviewing your expenses, assets, and income. As a borrower, you must provide documents and evidence showing your true financial situation. This usually includes pay stubs, credit card bills, savings card bills, as well as information on asset status, personal loan-related information.


A piece of advice: be completely transparent with your mortgage broker, only when they best understand your real situation, financial goals, and expectations, the better they will be able to help you apply for the right loan.


After an initial assessment, the loan broker will provide you with the loan product that best meets your requirements. This includes whether to choose a fixed or variable rate, whether to have a hedging account etc.


The loan broker should lead through the entire application process. Once you have selected your loan product, the broker will collect the relative documents needed and complete all paperwork. After reviewing and signing relative documents, you can send the application for approval.


What a mortgage broker can do is not limited to finding a loan product with the lowest interest rate but also adding more value.




What KBRZ has to offer:


KBRZ has a professional wealth management team, all with strong financial backgrounds and years of experience. Our team has access to qualified back-office support that occupies outstanding data analysis and risk management skills. With years of loan brokerage experience comes with established financing channels and networks, as well as accreditation with multiple Australian financial institutions.



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