How Mortgage Brokers Work

How Platinum Mortgage Brokers Work?

As a trusted mortgage broker in Batemans Bay, Platinum Mortgage Brokers bridge the gap between loan providers and borrowers, and we are committed to providing you with honest and valuable information and credit services.

Our mortgage brokers are licensed professionals who serve as intermediaries between borrowers and lenders to help individuals find the most suitable loan products according to their preferences and needs. We do this through our extensive knowledge in the mortgage industry, great resources, and wide networks.

When you come to us, our team of brokers will research, assess, and arrange various mortgage products and make recommendations according to your circumstances.

What Services Can Platinum Mortgage Brokers Provide?

Platinum Mortgage Brokers can help you with the following services:

Needs Assessment

Our brokers will assess your financial circumstances and figure out your borrowing capacity and the type of loan products that are most suitable for your needs. We will present you with different calculations across various scenarios.

Mortgage Loan Products Recommendation

After evaluating your personal and financial circumstances, our brokers will identify the most suitable mortgage loan products that will more likely help you achieve your goals.

Lender Negotiation

Your broker will arrange a panel of lenders so you can find the top deals with the most suitable features and competitive rates.

Continuous Support

The mortgage process can be complicated, so Platinum Mortgage Brokers will provide you support and will try to answer your questions so you can easily understand the process.

Take Charge of the Paperwork

It is part of our responsibility to make certain that we have all the required information and documents to submit the application on your behalf.

How Are We Paid?

Platinum Mortgage Brokers don’t charge a fee for our services. We make money through a commission from lenders. The amount and the structure of the commission will vary depending on the size of the loan and the policies of the lender.

Usually, we receive an upfront commission from a lender, which could vary between 0.5% and 0.7% of the total loan amount. For example, for a $450,000 home loan, a 0.5% commission is equal to $2,250 as our commission.

On the other hand, some lenders pay us trailing commission, which is calculated according to the remaining loan amount every year. The ongoing trailing commission is between 0.1% and 0.2% of the outstanding value of the property.

However, this doesn’t mean that you are paying higher fees when you work with us. Banks charge the same retail rate to borrowers regardless of which ‘channel’ they choose to use ie; a branch, a broker or a mobile lender. The benefit of using Platinum Mortgage Brokers is that because we offer access to dozens of lenders at once, you may end up saving money compared to when you directly apply to a bank.

To know more about how mortgage brokers work or if you wish to speak to a mortgage broker who covers from Nowra to Narooma, call Platinum Mortgage Brokers on +61 455 571 075.