If you borrow $500,000, your mortgage broker gets about $3,500 in upfront commission at settlement.
But did you know that your mortgage broker also gets around $750 p.a. trailing commission? And trailing commission pays your broker for the life of your loan.
Most brokers do a great job in helping you get the right loan, but most provide ZERO service for the ongoing trail income.
We can refer you to a mortgage broker who can provide mortgage advice and refund commission.
You can be confident you’re getting mortgage advice that isn’t influenced by the amount of brokerage paid by lenders or the amount of debt you take on.
And the good news…it’s never a bad time to review your loan arrangement.
Contact me if you want to talk further.