What is a mortgage broker?

A mortgage broker acts as a middleman between borrowers and lenders. They assess your financial situation and goals, based on which, products are recommended that are considered to be best aligned to your personal situation.

How does it all work?

We would have an initial discussion with you to understand your circumstances (e.g. your deposit, income, existing loans, dependants) and your needs (such as targeting a certain property price range, or restructuring multiple mortgages). Based on this information, we would then calculate your borrowing capacity and identify the product/s that fit your situation.

The services of brokers can prove most beneficial where:

• A decision must be made to select a product that enables you to borrow the amount that you want, whilst minimising the interest rates and fees you would pay. We are always happy to step through your options in detail, and the good news is, it’s all free to you.
• The rates that we offer to you are the same or better than what the lenders can provide to you directly. If you decide to proceed with a product, we then assist with compiling and filling out the paperwork.
• There are complications after lodgement of paperwork. In an age where lenders need to demonstrate responsible lending practices to regulators, lenders often raise follow-up questions. Some of these questions may be very detailed or confusing, which can hold up the process. Having access to a broker means you can leverage our experience to understand why the banks are raising these questions, and we can help you to liaise with and respond to the banks.
• You’re keen to secure a really competitive rate, but just don’t have the time to compare and inquire through every lender. Some lenders do not have a physical presence and can only be accessed through a mortgage broker. This means fewer overheads, and therefore lower interest rates.

At JNW Finance, we pride ourselves on our responsiveness and personalised service, aiming to arm our clients with financial education. We are accredited with over 25 lenders, giving us a broad coverage of different loans and types of lenders (i.e. the big 4 banks, 2nd tier banks and non-banks).

What types of mortgages are there?

There are a number of mortgages to choose from:

• Home loans
• Low doc loans for the self-employed
• Investor loans
• Expat or foreign income loans
• Self managed superannuation fund (SMSF) loans
• Fixed rate loan
• Interest-only loans
• Guarantor loans