Frequently Asked Questions
Avoid The Twists and Turns… Get The Right Information From The Start
How do you select your Mortgage Brokers?
We have a unique 5 step process in identifying and working with our Mortgage brokers. Please click here to see the process
How much does your service cost?
Nothing. Our Brokers are paid upon completion of the loan by your chosen lender. (A commission). Home Borrowers Advocate is paid by the Mortgage Broker from their commissions (See below). For any business there is a “Cost of client acquisition” and we receive a referral fee from the Mortgage Brokers of up to 50% of their revenue to ensure we are able to work hard for you.
What Lenders do your Mortgage Brokers use?
Our Mortgage brokers all use different “Aggregators” (Aggregators provide the agreements with the Lenders and also process commissions and act as a “go- between” the Lenders and Brokers) and as such, combined our brokers have access to over 50 Lenders. (Major banks included)
Do we have Lender Preferences?
Some Lenders are better than others on price, service, fees, and charges. Some Lenders have great after-sales service and some lenders just don’t care about their clients. Our Broker will determine who is a good fit based on all aspects and recommend accordingly.
What about lender commissions. I hear they are all different and some brokers go to the one that pays the most.
Lenders do have different “Commission Structures” based upon the value they believe the Mortgage Broker provides to their business. However all commissions are duly disclosed and accessible to you. It will be VERY clear to you should a Mortgage Broker travel this path and attempt to do this. While we don’t look at this on every Loan, we do spot checks to ensure our Mortgage brokers maintain a high level of ethics and transparency.
Are your Mortgage Brokers regulated?
Yes, of course. All our Mortgage Brokers hold either an “Australian Credit License” or are a “Credit Representative” of a Credit License Holder. The are also up to date with their Professional Indemnity Insurance and other compliance requirements.
Disclaimer: “Home Buyers Advocate” is not a credit provider and will not be giving you any credit or product information whatsoever. We simply organise a connection between you and a tried and true Mortgage Broker who won’t let you down.