What does a Mortgage Broker do?
A mortgage broker is someone who can assist you in finding finance with a wide range of lenders. At Bendigo Mortgage Brokers, we have over 40 lenders on our panel who can help to provide you with the most suitable finance to meet your needs. We deal with the banks directly from lodgement through to settlement, but also post settlement when reviewing your loan, so you can relax and not have to deal with the stress banks can sometimes cause!
Why use Bendigo Mortgage Brokers over a bank?
We have an extensive list of lenders available to provide finance to you and to meet most needs you may have no matter how niche they are. A bank will only provide you with their products, whilst we compare loans with over 40 lenders on our panel. Bendigo Mortgage Brokers aims to find multiple lenders suitable to your circumstances and then pick the best option for you based on interest rates, fees and customer service is still an important component.
How much does it cost to use Bendigo Mortgage Brokers?
Our service at Bendigo Mortgage Brokers is free to use, with all appointments coming at no cost to the client. We get paid by the bank when a loan is settled, which is disclosed to you in documents throughout the loan process. Sometimes there may be a fee that you have to pay for your loan, as it may involve a higher level of investigation and communication with the lender, but if this is the case, you will be informed prior to taking an application.
What is the process for getting a loan?
Getting finance through Bendigo Mortgage Brokers starts with an initial appointment to assess your borrowing power and provide guidance as to what you can afford. Once you have purchased a property or decided to proceed with a refinance, we have an appointment to collect all your personal information & documents, whilst deciding on a lender to use.
It is then lodged in our system with some documents for you to sign, before it is submitted to the lender for processing. From there, the bank issues conditional & formal approvals along with loan documents before it becomes ready to settle. We keep you updated at all stages during this process so that you know where your application is at all times. We aim to make this a smooth process and for you to have as little stress as possible!
What loans can a mortgage broker provide finance for?
We provide a range of loans at Bendigo Mortgage Brokers which include Home Loans, Construction Loans, Investment Loans, Personal Loans and Car Loans.
For our home loans we have options of owner occupied or investment loans, variable or fixed loan and Principal & Interest repayments or interest-only repayments.
We also offer a refinancing service for you to look at your current mortgage and see if there is a better deal for you!
Personal loans can be for a range of reasons, including:
- Purchase of a Caravan, Boat, Trailer, Motorbike or Jet Ski
- Consolidation of debts
- Paying tax debts and Centrelink debts
- Renovations and home improvements
- Holidays
- Education costs
- Medical expenses
- Wedding costs
There are also other reasons for a loan that have not been listed as we have lenders who can help you get finance in most circumstances but give us a call to discuss further!