These days, with interest rates moving up and so many different loans and lenders in the market, you should rely on a finance broker to do all of the investigative legwork for you. A good finance broker will be able to source the most suitable loan for your circumstances at the most competitive interest rate available. Special deals with the majority of banks and financial institutions are available – it is just a matter of seeing if you qualify for them.
How much does a finance broker cost?
It will depend on which finance broker you use. There are 3 types:
Finance brokers who do not charge you a fee. The lender will usually pay them a fee once the loan has settled and an ongoing fee for the length of your loan (called “trailing commission”). Finance brokers (including Acceptance Finance) often operate this way.
Finance brokers who charge you a fee (or commission) and also receive a one-off commission and a trailing commission from the lender.
Finance brokers who only charge you a fee and do not receive any payment from the lender for introducing the loan. This type of finance broker is not as common as the other two types.
Always ensure you are dealing with someone who is a member of the MFAA (Mortgage & Finance Association of Australia).
The world of loans, leases or mortgages, is vast and complex. There are so many providers, so many products and complicated tax and accounting implications. Who knows what will work best for you?
I invite you to call and pick our brains. It won’t cost you a cent, but it could save you a fortune.
Joe Terlato
03 9854 3500
Acceptance Finance
If interested in learning more about this update please contact me today!
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As Domain Property Advocates continues to grow I will continue to provide superior service to those choosing to use property as their investment. It is an important choice of who to choose as the one responsible to look after your property. You can be sure that Domain Property Advocates will always strive to be the best. |  |
