Fee Disclosure |
Brokers claim to be unbiased but unless
a broker discloses their fees you are unable to confirm
that they are actually unbiased. Also some brokers sell
their own loan, so do request disclosure of the fees
that they earn on their own loan. |
List of Lenders |
Some brokers may only represent 1 or 2 lenders which limits
your options so ensure that the broker is accredited with a few lenders
before making a decision about your loan.
|
Lender Comparison |
Make sure that your broker shows you more than
one option for a loan so that you can choose the loan that is
right for you.
|
Tertiary Qualifications |
Many brokers have no tertiary qualifications
and entered the mortgage industry because of the boom
in property. When making such a financial commitment
as a mortgage, it is imperative that your broker has
studied finance and has experience in the finance industry. |
Product Details |
Once a loan product is selected, be
sure to request the details of the product from the broker
so that once you receive your loan contract you can confirm that
the details of the loan are correct.
|
Single Contact |
Ain’t it frustrating to meet
with a broker, select a loan and never be able to contact
that broker again. Often brokers pass on the loan application
to an assistant after you have made your selection.
This is both frustrating and annoying as you often have
to repeat your background details to the assistant. |
