Frequently Asked Questions

For your convenience, our most common customer questions are answered right here.

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Q: What is a Mortgage Broker

A: Mortgage brokers are finance advocates.

We help you find the deal that best suits your needs and circumstances and then take care of the application process for you, liaising with the “banks” and your solicitor from start to finish on your behalf.

We are able to offer our clients a wide range of choice across a large number of financial institutions. Your choice may not always be based on price alone, but will also consider the requirements of our lenders to ensure a successful outcome for our clients.

Q: How does your service work?

A: We start by learning about your financial goals and future plans; we assess your needs and create a tailored package to suit your short and long term financial and lifestyle objectives. Once you are happy with the package we help you to complete the banks application. We handle every step from submission to approval and follow it through to settlement.

We offer an ongoing support and an alternative to the Banks call centres when our clients need advice following settlement.

Q: Will you charge me for your services?

A: No we do not charge a fee for service. ALIC like most brokers are paid on the settlement of a loan by the institution where the loan is written. This is paid by that institution and is not passed onto the client. Brokers are also liable for a ‘clawback’ if the loan is refinances or paid down within a 1-2 year period. So it is in our best interest to find the best bank to suit your longer term needs and ensure we provide you a strong ongoing service proposition that delivers value.

Q: What’s in it for the banks

A: Lenders find mortgage brokers are a cost effective means for them to obtain new business. Like online companies, banks don’t have to pay for our bricks and mortar; they only pay have to pay us for successful new business.

Q: What is the advantage of using a mortgage broker?

A: There are many advantages to using a mortgage broker.

We are able to offer you more choice in your finance options. You also have the benefit of dealing with staff who have many years of experience in the industry. We have the knowledge to evaluate your needs, make comparisons and negotiate better terms and conditions for you. We will also liaise with all parties from the time of submission through to approval and settlement.

Q: Should I get a pre-approval for a loan?

A: If you want to buy, it makes sense to find out how much you can borrow.

If you apply for a loan and get “pre-approval”, you’ll know how much you can afford, you’ll strengthen your position as a buyer and you’ll have the lender’s backing to purchase a property.

By securing a “Pre-Approval” you remove some of the stress of buying a property by streamlining the process after you have located a property.