Data from the Australian Security and Investment Commission (ASIC) have shown that around half of new home loans written in Australia are through mortgage brokers.
What is a Mortgage Broker
Mortgage brokers are home loan and mortgage advisors who help borrowers find the right finance option to purchase or refinance a property. Mortgage brokers help you understand your borrowing capacity and available loan products so you can make an informed decision. They act as an intermediary between you and the lender, representing your interests to get you the best loan possible. Although this is the most basic service a mortgage broker provides, a good mortgage broker can usually offer you more giving you peace of mind throughout the whole application process.
Pros and Cons
The Pros:
A mortgage broker makes the application process easy.
They are able to offer customers a better range of loan products.
A broker has better access, meaning they can find you home loan options with better rates.
Mortgage brokers have the knowledge and expertise to guide you to the best investment decision.
The Cons:
Not all brokers have the right qualifications, experience, and industry knowledge.
Not all mortgage brokers are backed by a qualified support team.
The Process
Organising loan applications is one of the main ways a loan broker can demonstrate value. They usually collect information about you through questionnaires or interviews to help understand your current situation at the request of potentially viable lenders. After understanding your home purchasing plans and expectations, a mortgage broker will conduct an initial assessment of your financial situation by reviewing your income, expenses, and assets. Following the initial assessment, the loan broker will provide you with the loan product that best meets your requirements, including whether to choose a fixed or variable rate, whether to have a hedging account, etc.
As a borrower, you need to provide documents showing your true financial situation, this may include debit card statements, credit card statements, as well as asset status, personal loans, and other loan-related information. For mortgage brokers to best understand your situations and recommend the right loan products, it is recommended that you are completely transparent.
Why Choose KBRZ
KBRZ has years of experience in mortgage services, allowing the company to establish mature financing channels and customer networks, as well as accreditations with multiple Australian financial institutions. Our professional wealth management team has a strong financial background with years of experience and occupies outstanding data analysis and risk management skills. Our team has access to back-office support with the most qualified specialists, providing you with a more stress-free experience, so you can achieve your goals faster.
Other than our developed financing channels and networks, we also offer an independently approved commercial loan product as well as a residential loan product, being K-DIRECT and K-LOAN respectively. KBRZ professionally provides a variety of loans catered to your circumstances including Australian non-bank loans, bridging loans, short-term loans, overseas loans, construction and development loans, and secondary mortgage loan services. Our advantages are low-interest rates, exceptional service, flexibility, and time efficiency.
With advanced investment strategies and strict risk control methodologies, KBRZ endeavours to provide a steady and solid wealth accumulation for our valued customers.
