Brisbane Mortgage Broker List

List of mortgage brokers in Brisbane:

• Sterling Mortgage Services
• Home Loan Finder Mortgage Broker
• Rams Home Loans
• Intellichoice
• Mortgage Choice
• Home Loan Connexion
• Azee Mortgage Brokers
• Remortgage
  

What is mortgage?

A debt instrument, secured by the collateral of specified real estate property, that the borrower is obliged to pay back with a predetermined set of payments. Mortgages are used by individuals and businesses wishing to make large value purchases of real estate without paying the entire value of the purchase up front.

Mortgages are also known as liens against property, or claims on property.

"The nature and scope of a mortgage broker's activities varies with jurisdiction. For example in the UK anyone offering mortgage brokerage is offering a regulated financial activity; the broker is responsible for ensuring the advice is appropriate for the borrowers circumstances and is held financially liable if the advice is later shown to be defective. In other jurisdictions the transaction undertaken by the broker may be limited to pointing the borrower in the direction of an appropriate lender and no advice given.

Therefore the work undertaken by the broker will depend on the depth of their service and liabilities. Typically the following tasks are undertaken:

• Marketing to attract clients
• Assessment of the borrowers circumstances.
• This may include assessment of credit history (normally obtained via a credit report) and affordability (verified by income documentation).
• Assessing the market to find a mortgage product that fits the clients needs.
• Applying for a lenders agreement in principle (pre-approval)
• Gathering all needed documents (paystubs/payslips, bank statements, etc.),
• Completing a lender application form.
• Explaining the legal disclosures.
• Submitting all material to the lender."