FAQs

A broker is a finance professional dedicated to working with you individually to explore your borrowing goals and help determine your borrowing capacity. Unlike direct lenders, brokers offer a more personalised level of service and have access to a wide range of loans from multiple lenders. This enables them to find loan terms that best suit your unique financial situation, tailoring their search to meet your specific needs and objectives.

There are no extra loan repayments or fees when you take out a loan through a broker. A broker is simply paid commission by the lender for introducing new business, but this doesn’t affect your interest rate or other aspects of the loan agreement.

Using a broker typically incurs no cost to you, as they are compensated by the lender. With access to a vast array of loan products from numerous lenders, brokers are adept at finding the ideal loan tailored to your circumstances. This often means securing a combination of the lowest available rate at the time and product features that best suit your needs. It’s important to note that some brokers may charge service fees, but these must be disclosed upfront before any services are provided.

As the name suggests, variable-rate home loans feature interest rates that fluctuate over time. These loans often offer greater flexibility than other types, with options like redraw facilities and the ability to make extra payments. However, they do not provide fixed repayment amounts. In contrast, fixed-rate home loans offer predictable monthly repayments, allowing you to know exactly how much you’ll need to pay each month for the entire loan term.

While they may not provide the same level of flexibility in features, they offer peace of mind for borrowers who value certainty in their budgeting. When deciding which type of loan suits you best, it’s important to consider what matters more to you—flexibility or the assurance of consistent monthly repayments.

Thanks to our connection with a mortgage aggregator, we have the advantage of sourcing loan options from over 50 different lenders. This extensive network allows us to find multiple suitable options tailored to your specific situation, ensuring a broader range of choices to meet your financial needs.