As A Mortgage Broker, Which Banks Do I Deal With?

This is a email question from Mark in Floreat, As a mortgage broker, which banks and lenders do you deal with? And is there a difference between the lenders?

This is a good question, and I will list the banks and lenders I am accredited to write home loans with. Firstly, lets look at the question, Are there differences between the banks and lenders. Well the answer is yes. While there are interest rate differences, between them, the main advantage to using a mortgage broker, is the credit policy differences between the banks and lenders.

The differences in credit policies, means that each bank or lender has different rules about what they accept when considering a home loan scenario. Lets look at some of credit policy differences between the banks and lenders, that may help influence your decision when thinking about a home loan –

-         Some lenders require genuine savings, some don’t.

-         Some lenders lend up to 95% of the property value, some don’t.

-         Some lenders allow large cash advances (if you have the equity in your home), and some don’t.

-         Some lenders will lend on your mortgage for business purposes, some don’t.

-         Some lenders have credit default tolerances, some don’t.

The list of credit policy differences between the lenders is endless. Each bank or lender have their own rules, about what is an acceptable mortgage credit purpose to them. This is where some information from an experienced mortgage broker can be useful, as the mortgage broker can research your personal financial requirements, and come up with different mortgage options for you. If your current bank has said no to an idea or request you have had, a call or email to a mortgage broker may be able to help you achieve your goals.

Here is a list of the banks and lenders, than I can help you with mortgage finance –

Banks –

Adelaide Bank.

AMP.

Bankwest.

Commonwealth Bank.

Citibank.

Homeside Lending.

Macquarie Bank.

National Australia Bank.

ING Bank.

St George Bank.

Suncorp.

Westpac.

Other Lenders-

Bluebay Finance.

Collins Securities.

First Mac.

Homeloans Ltd.

Keystart Home Loans.

La Trobe Home Loans.

Liberty Financial.

Hemisphere.

Paramount Mortgage Services.

Pepper Home Loans.

PFG Mortgage Managers.

The Base Loan.

Building Societies and Credit Unions-

Police and Nurses Credit Society.

The Rock.

I deal with all these banks, so I may be able to help you with your home loan. If you have any comments, please leave below. If you would like more personal mortgage information, or to use my services as a mortgage broker, please contact me anytime.

http://www.mortgagefacts.com.au/