What does a mortgage broker do?
A broker helps you work out what you need and how much you can borrow, then compares products from a range of lenders to find a suitable loan. You get a more personalised service than going to a single lender, and we manage the application through to settlement.
Do you charge fees for home and investment loans?
No, Ausena doesn’t charge clients for our service. Lenders pay brokers a commission, which doesn’t affect your interest rate or increase your repayments.
Don’t you just recommend the lender that pays the most commission?
No. Commissions are similar across lenders, and brokers are required by law to disclose their commission to you up front. Our job is to find a competitive loan that fits your needs and to act in your best interests.
Isn’t it more expensive to use a broker?
The cost of a loan depends on the loan and lender you choose, not on whether you use a broker. Brokers who charge fees must disclose them beforehand, and you can ask us to focus on lenders with low fees and charges. Ausena doesn’t charge for its services.
How much can I borrow?
It depends on your income, employment, savings, living expenses and existing debts. Our calculators give a rough estimate, and we can give you a more accurate assessment based on how different lenders would view your situation.
Should I go fixed or variable?
It depends on what matters most to you: paying the loan off quickly, certainty of repayments or keeping costs low. Variable loans generally suit flexibility, fixed loans suit budget certainty, and a split loan gives you some of both. We’ll talk through the trade-offs with you.
I’m not in your area. Can we still work together?
Yes. We’re based in Adelaide and Brisbane and work with clients Australia-wide, in person by appointment or remotely, including outside business hours and on weekends. We also help expats, foreign nationals, and temporary and permanent residents buy property in Australia.
Which lenders do you deal with?
As a Connective broker we have access to over 40 lenders, including the major banks, regional banks, building societies, credit unions and specialist lenders. See our lender panel.
Who sets interest rates?
Brokers don’t set rates. The Reserve Bank of Australia sets the official cash rate, and each lender sets its own rates based on the cash rate, its funding costs and economic conditions.
Why use a broker if I can go straight to a bank?
A bank can only offer its own products. A broker can compare loans from many lenders to find the best match for your circumstances and goals, and knows which lenders are likely to look favourably on your application.
This information is general in nature and doesn’t take your personal circumstances into account. Please contact us for advice about your situation.
Still have a question?
Every situation is different. Book a free consultation and we’ll talk it through.