How to Apply for a Loan in Australia

This is one of the most googled questions around! (Well, in Australia anyways)

There’s a few things you can do to apply for a Home Loan in Australia. First of our (and our favourite) is to set up a time with your favourite mortgage broker. If you don’t have a broker, you can rely on referrals from a trusted friend or family, search google or your community pages.

We recommend using a broker that has a good understanding and education of the finance industry because a good bank or broker can be the difference in getting the education you need for applying for finance (and a better chance of being approved)

Second option is to go direct to your bank. But think about it this way…. will your bank tell you if the lender down the road is more suited to you, has a better rate or better options? Probably not. They’re not obliged to. And for fair reason, they’re in business to do business with you, so why would they send you down the road.

A broker has access to up to 40+ lenders and we work for you. We’re also bound by best interest duty, meaning we have to put your best interest at the front of any decisions we present to you.

Your final option, is to do it all yourself. Consider each lender policy, shop around, research rates, fees and charges and figure out which lender has a policy suited to you (and will approve your loan) who has time for that??? Well, we do. That’s our job. Our one job, is to research lenders for you, offer solutions and comparisons for the lenders who are suited to your loan, based on the goals you tell us.

So if you have the choice, which loan path will you be taking?