FAQ

What can a mortgage broker offer that banks can’t?

A mortgage broker has hundreds of products to choose from, while an individual bank may only have 3-15 products. A bank can only you tell you about the products they have, not all the products o the market. A mortgage Broker is an individual who will endeavour to obtain the best possible financial deal for you and your circumstances from the lending panel.

Fixed or Variable?

This is a great question and is up to you. A broker cannot tell you what to do. In most cases over 30 years you are better off with a variable loan. However it depends on your circumstances. If you cannot afford for interest rates to go up then it might be best to fix the loan and borrow the amount that allows this.

Repayment or Interest Only?

If it is your own home then it is usually a repayment mortgage so that you pay the interest and the loan. Many investors will use an interest only loan as they are relying on the value of the property to increase to pay the loan out, and they want to get the maximum tax benefits.

How do I recognize a good Mortgage Broker on the Gold Coast?

We strongly recommend asking people you know about brokers they have used and have been happy with. If you don’t know anyone who has personally had a great experience with a mortgage Broker, then request references from any companies you are considering engaging. A good Mortgage Broker will listen to you and your circumstances and take the time to explain everything to you as often as you need in order to understand.

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