WHAT IS A MORTGAGE BROKER?

A mortgage broker is a professional who acts as a middleman between borrowers and lenders. The primary role of a mortgage broker is to recommend the loans that are best suited to a particular borrower.

Comparing loans can be a difficult and tedious task. A good mortgage broker understands the subtle differences between loans and, importantly, how those differences will impact the borrower. A good mortgage broker will also keep up-to-date with newly introduced loans and changes to existing loans.

Brokers usually have access to a wide range of lenders and products, and should aim to source the best and most appropriate loan for their clients. A broker looks at the clients specific needs and circumstances, and should be able to interpret which type of loan best suits their clients and why.