Why a use a Broker
Mortgage brokers are consumer advocates in the home loan selection process by helping you to select a home loan and complete the required mortgage documents. Mortgage brokers follow your new home purchase, investment or refinance through to settlement providing a smooth and convenient transaction.
By linking with banks, other financial institutions and private lenders, mortgage brokers offer you access to a wide range of home loan choices to find the right mortgage for your needs.
You will be mentored through the complex home loan lending process. Our mortgage brokers offers you the convenience of doing all the leg work to access an affordable home loan while balancing the your financial interests and goals.
Delphi Financedoesn’t charge a fee for home loans since we are paid by the lender once the loan settles. In the case of commercial loans or complicated loans we may ask for a service fee.
Some brokers do charge a service fee, as they are not paid a salary and if the loans don’t settle they are not paid.
Yes they are not paid a salary by anyone. They are paid by the lender once the loan settles.
Yes, we are. Mostly by appointment only as we know our clients are more readily available outside standard working hours.
Like every industry, there are a few bad apples. Which ever mortgage broker you end up going with they should supply you with a credit guide, credit proposal and the preliminary assessment which is a summary of your information. These documents will disclose the interest rate, fees and charges plus the relevant phone numbers and licensing numbers.
If a broker isn’t fully transparent and honest with you from the get-go, that is a red flag.
This is down to personal preference for a lot of people. To start with I always deal with people I can talk to and are forth coming.
At the lending circle we have the following:
- Fully licensed through ASIC, completed Diploma in Finance Broking.
- Member of the Mortgage & Finance Association Australia (MFAA)
- We use high tech software that will compare the different lending partners rates and products against your needs.
- Have access to offers from over 25 different lending partners, including the other lenders besides the big four banks.
- We provide a credit guide, credit proposal and preliminary assessment which discloses the licensing details, interest rates, fees, charges and commissions received.
- We are also constantly receiving ongoing professional development both through the lenders and other associates to provide the best level service to our customers
The brokers under Delphi Finance have been working in the finance industry since 1995, are fully licenced and are focused on providing the best solution that is most suitable to the clients personal needs.
The mortgage broker doesn’t actually approve the loan, however at the lending circle we are fully licensed and qualified to assess your situation and pre qualify your application so that you have the best chance of an approval before the loan is submitted to the lender who actually does the underwriting.
Yes. Definitely. A mortgage broker needs to at least have a credit representatives certificate. At the lending circle we are fully licenced by ASIC, we also have membership to the Mortgage and Finance Association of Australia ( MFAA) , we are also members of the Credit ombudsman and we are required to do continuous professional development. This includes information and training by the various lenders to maintain our accreditations.
Yes they can, Investment properties can also be refinanced, either as an interest only loan or a principal and interest loan. You can also either have a fixed rate or a variable rate.
We go through a client fact find and supporting documentation, we then will enter your information into our software that also compares all the different products as well as how much you can borrow.
We will discuss the options with you can complete the lenders documentation and submit the loan and keep you updated through the process.
A pre approval is an approval on how much you can borrow before you have found the property, they last for 90 days however they can be extended. It is suggested to get this done as it give you confidence when you are negotiating the property purchase with the real estate agent or owner.
Depending on what the loan amount is in comparison to the value of the property. Each situation is different, in most cases you can.
You could just go to the bank yourself but they will only tell you the information for that lender, where as we are qualified professionals, our business is to know the different lenders interest rates and we spend the time searching for the best rate and product for you and your personal needs. There are lenders who also don’t have a lot of shop fronts so they are not as well known but have great products that may suit your circumstance better. We are also up to date with the different special offers that that banks have at various times.
Not at all, most of the lenders for home loans pay almost the same anyway. To the mortgage broker it really doesn’t matter which lender we suggest, the flow of importance is that your borrowing capacity works with that lender, then the product will be flexible so that you are able to use the loan to your advantage , the rate, customer service of the lender, then we also look at the turn around time for approval.