Frequently Asked Questions
What service does a mortgage consultant provide?
Your mortgage consultant can help you in the following ways:
- Calculate your maximum borrowing capacity and the minimum loan repayments on the loan you require.
- Explain the features, benefits and disadvantages of the products available in the marketplace.
- Help you make an informed decision regarding the selection of a home loan product and lender from our approved list.
- We complete the necessary loan offer and mortgage documents for you.
- We will deal with the lender on your behalf throughout the application process right through to settlement.
- We can, where necessary, liaise with your solicitor and/or real estate agent to help secure your property for you as quickly as possible.
What will it cost me to use your services?
As brokers, we are remunerated by the lender we arrange your finance through so there is no cost to the consumer. Because The Home Loan Centre and our mortgage consultants are only paid if a loan settles, we have significant incentive to ensure you are satisfied with our service and the loan proceeds to settlement.
Do all lenders pay The Home Loan Centre the same amount of commission?
The lenders on our panel pay varying rates of commission. We recommend a lender based solely on your personal situation and requirements. As part of the loan application process we disclose all commissions to you.
How do you select the recommended lender?
After assessing your personal situation, including wants and budget regarding structure, we search for the best lender to meet your needs. We strive to recommend a lender that is suitable and competitive.
What are your industry associations and qualifications?
The Home Loan Centre holds an Australian Credit Licence and is a member of the Finance Brokers Association Australia (FBAA). We were inducted into the REIACT Hall of Fame for Mortgage Providers in 2006.