A Mortgage Broker is a go-between between the borrower and the lender (usually a bank), who negotiates the loan on your behalf.

They will do the legwork on researching products on the market from the hundreds available, and then support you through the application and settlement process.

They generally charge the borrower nothing for their service, as brokers are paid a commission by the lender when the mortgage is settled.

What are the benefits of using a Broker?

There are a number of benefits to using a broker, particularly through the application process.

Firstly, they can shop around for you. Everyone knows shopping around could lead to a better deal but it’s time consuming, especially if it involves contacting a number of banks and lenders. A broker can search the range of loans available from multiple lenders very quickly to find you the right home loan for your needs.

They also provide you with one central point for mortgage information and will talk you through the process.

All banks have different guidelines, and unless you’re familiar with them you can find yourself not getting a loan – just because you haven’t crossed a ‘t’ or dotted an ‘i’.

The big difference between property and any other type of investment is that you can actually touch it. It’s bricks and mortar, not just numbers on a screen.

It’s also considered one of the more solid, less volatile forms of investment. Investors tend to like property for its:

• Potential capital growth (increase in value).
• Ongoing rental return.
• Tax benefits.

You don’t need a big salary to get started.

Whether you need to pay for a holiday, renovations, or a wedding to name a few things, you can with a personal loan from Aussie.

While lots of people will pull out a credit card or redraw on a mortgage for this sort of thing, a personal loan is often a smarter way to go because:

• 
  The interest rate on a personal loan can be a lot less than the rate on your credit card.


• 
  If you only make the minimum monthly payment on your credit card, the original debt can hang around forever and the amount of interest you’ll pay in the long term can really add up. A personal loan from Aussie can be a better way to pay, because the fixed term and repayments mean you regularly reduce your debt.


• 
  Unless you increase your repayments on your mortgage, the accumulated amount of interest you’ll pay over the term of your home loan can add up to a lot more than what you’d end up paying on your personal loan.