If you borrow $500,000, your mortgage broker gets about $3,500 in commission at settlement. That’s more than enough for their service and expertise.
But did you know that your mortgage broker also gets around $900 p.a. trailing commission? And trailing commission pays your broker for the life of your loan. That cost comes out of your pocket and inflates your mortgage repayments.
And this is what hurts…most brokers provide ZERO service for this income. In fact, after settlement, most tell you to deal directly with the bank.
As an Independent Mortgage Broker, we give unbiased mortgage advice and refund 100% of the commission.
We provide a Guarantee that our fee is covered by the savings you receive through a cheaper loan and commission refund. If we cannot put you in a better position, we won’t take you on as a client.
You can be confident you’re getting mortgage advice that isn’t influenced by the amount of brokerage paid by lenders. You’ll get advice on the best loan available for your situation and money back at the start of your mortgage and each year thereafter.
And the good news…it’s never a bad time to review your loan arrangement.
Contact me if you want to talk further.