As a Mortgage Broker, my role is to provide information and guidance in relation to loans. To do this properly, I need a really solid understanding of what your goals are. I complete an assessment of your financial position to find out what’s possible, like how much you can borrow, and then explain the options to you. My goal is to not only find you a great deal, but to create a strategy that aligns with your goals, educate you along the way, and make it as simple and seamless as possible by dealing with the lender on your behalf.
Whether you are looking for assistance with buying a home, an investment property, a commercial property, or taking out a personal loan, the same goals apply.
Mortgage Brokers are legally obliged to act in your best interest, but banks are not. As a Mortgage Broker, I can help you achieve your short and long-term goals with expert advice from over 10 years of industry experience. We offer you choice with a wide range of lenders and have years of experience and knowledge of their policies giving you the best chance of an approval.
When you go directly to a bank, they can only offer you their range of products which may not be the most suitable for your individual circumstances, or the most competitive in the market.
Using a Broker saves you the time and hassle of shopping around multiple different banks to find the right fit.
Mortgage brokers can get better rates by requesting a rate discount with most lenders. Major banks won’t always offer their best rate without being asked. Mortgage brokers know how to navigate this system and apply the best available discount to your interest rate.
At Feel Good Financial Services, we do not charge a fee for most of our clients as we are paid a commission from the lender after settlement. In some circumstances, where this commission is not sufficient to cover our time, we may charge a small service fee. This fee is quoted upfront before any work is undertaken so there are no surprises.
Mortgage Brokers are paid commission from the lender after settlement. Usually a broker will receive an upfront commission which is a percentage of the settled loan amount, minus any funds in the offset, the month after settlement. A trailing commission can also be received each month if the loan is not in arrears.
A Broker’s commission can be subject to “clawback”, whereby the Broker must repay all upfront commission if the loan is closed within the first 12 months.
Australia has over 19,000 mortgage brokers to choose from. Some are part of large national franchises, and others are small independent businesses.
Mortgage Brokers must hold a Certificate IV or Diploma in Finance and Mortgage Broking. You may consider their years of experience as well.
Mortgage Brokers should have access to a large range of lenders and products to ensure they have satisfactory options to meet clients’ needs.
It is wise to check the online reviews of Mortgage Brokers to help you choose. And finally, you should follow your gut and work with someone you trust.
At Feel Good Financial Services, Ellen holds a Diploma and has over 15 years’ experience in the finance industry. We have over 40 different lenders on our panel. Feel Good Financial Services has over 60 5-star reviews and hundreds of happy clients.
The answer will depend on your circumstances! There are different ‘best rates’ for owner occupied homes vs investment properties, for fixed vs variable rates, interest only vs principal & interest repayments. We will always work with you to uncover your needs and objectives, before presenting a range of options for you to choose from.
Feel Good Financial Services is based in the Shoalhaven, NSW. We take face-to-face appointments at The Greenhouse in Huskisson and we happily provide our services Australia-wide via videoconferencing technology.