How a Mortgage Broker Works
People go to a mortgage broker to get access to a greater range of mortgage options, for the mortgage broker's ability to negotiate with lenders and for better service. A mortgage broker offers loans from a panel of financial institutions, including banks and non-banks.

In Australia now, there are literally hundreds of lenders with many more options. Using a mortgage broker is now an essential part of searching the market for the right home loan. In simple terms, mortgage brokers evaluate your situation to find you the best mortgage.

One of the great advantages of using a good mortgage broker is that they have access to many of these lenders and their products.

How can a mortgage broker service be free?
A Mortgage Broker usually runs their own business with lenders working with the mortgage broker because they effectively give the lender a bigger "shop front" without carrying overheads. Some lenders have few or no branches and partly rely on the mortgage broker to represent their products.Other lenders simply extend their access to Customers through the mortgage broker network. The lender pays the mortgage broker a fee or commission for your business. Just as if you were dealing with a bank manager or lender, these fees do not change the interest rate you pay on a home loan.

DIAMOND FINANCE

Phone: 02 9980 9002
Fax: 02 8088 1156
Email: contact@diamondfinance.com.au
Web: http://www.diamondfinance.com.au