Who pays the FREE Mortgage Broker?

By: Choice Home Loans Camberwell  28-May-2015
Keywords: Loan, Mortgage, Investment Loans

There’s no such thing as a free lunch, but that doesn’t mean you will receive lower levels of service or expertise from a finance broker who doesn’t charge you. It just means that someone else is paying for it. Each business will have its own reasons for its revenue model, and each structure offers different advantages. Approximately 90 per cent of the more than 10,000 MFAA accredited finance brokers don’t charge a fee for their advice, relying on lender commissions for their income. Choice Home Loans Camberwell do not charge clients a fee for our services, unless extremely rare circumstances apply. The main and very obvious advantage of seeing a credit adviser who does not charge a fee is that it lowers the cost of procuring finance and, despite public debate, the different commission structures offered by the various lenders do not impact the credit adviser’s recommendations. Not only are MFAA accredited finance brokers bound by ethics agreements that demand they do not suggest loan products that are unsuitable for a client, an adviser who prioritised commissions over their clients would see their business suffer as clients realised that they would get a better deal elsewhere. Whether you choose an adviser who charges fees or one who relies on commission, MFAA accredited finance brokers are bound by ethical standards requiring them to give you appropriate advice. Contact our office today, to find out how we may be of service to you.

Keywords: Bank Mortgages, First Home Buyers, Investment Loans, Investment Property, Loan, Loan Calculators, Mortgage, Mortgage Broker, Personal Loan, Property Loans

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Our name has CHANGED but we are still the SAME!

Our name has CHANGED but we are still the SAME!